Credit Score - Get Credit Score India

Credit Score - Get Credit Score India

You must have heard the term ‘Credit Score’ or ‘CIBIL Score’ mentioned often. These words have become a part of common parlance. However, it is important to understand what these terms are. Especially when you are considering seeking financial aid from a bank in the form of a loan, your Credit Score can impact the entire application and approval process.

What is a Credit Score?

A Credit Score is essentially your creditworthiness represented in a numerical format. This score shows banks or any financial institutions your ability to repay the borrowed amount. Generally, CIBIL Score is a three-digit score ranging from 300 to 900.

Often ‘Credit Score’ and ‘CIBIL Score’ are used interchangeably. However, CIBIL or TransUnion CIBIL Limited, is one of the most trusted credit information companies in the country. This company collects the credit history and information of millions of people. It is because of its stellar reputation that the CIBIL Score is often referred to as Credit Score in India. 

Why is your Credit Score important?

Your Credit Score helps a lender decide if you are a good candidate for them to lend money to, in the forms of loans, credit cards, etc. 

When you seek a Personal Loan, meet urgent medical expenses, plan a family event, or support your loved ones, your Credit Score will play a pivotal role. If your Credit Score is low, your loan application might not be approved. Thus, it is vital that you check your Credit Score before making an application. At HDFC Bank, you can get a Personal Loan that offers several benefits, along with an affordable interest rate. Plus, you can repay the loan with easy EMIs through several modes. In this way, your Credit Score can remain healthy after repayment of the loan. 

What are some factors that affect your Credit Score?

There are various factors that determine your Credit Score, crucial of which is your payment history. Other factors which can affect your Credit Score are:

  • Irresponsible payment history, such as paying loan EMIs and delaying Credit Card bills payments, can lower your Credit Score.
  • If you use your credit limit excessively – more than 30% - it can affect your score negatively.
  • If you have outstanding debt and pay the minimum amount due on your Credit Card, your Credit Score will be lowered.
  • Lastly, the length of your credit history also factors into how your Credit Score is perceived. 

How to Improve Your Credit Score?

Here are some ways to maintain a healthy Credit Score:

  • Set reminders to pay off loan EMIs or Credit Card dues on time.
  • Lengthen your credit history by holding on to older Credit Cards.
  • Ensure that you control your credit usage to maintain a healthy utilisation ratio.
  • Do not take on too much debt at once and pay off one loan before taking another.
  • Build a Credit Score by choosing a mixed bag of secured and unsecured loans.

Once you strengthen your Credit Score, you can apply for several types of loans, such as Car Loans and Home Loans, various kinds of insurance, and Credit Cards. As you pay off these loan EMIs and other dues, your score can improve. Then you can apply for loans that offer higher amounts, like a Personal Loan. 

Apply for the HDFC Bank Personal Loan to meet any financial challenge! 

Check your Credit Score with HDFC Bank by clicking right here. 

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.

*Terms and conditions apply. Personal Loan at the sole discretion of HDFC Bank Limited. Loan disbursal is subject to documentation and verification as per Banks requirement.


  1. What is a Credit Score?

Your Credit Score is the history of your repayments to banks or financial institutions in a numeric form. This score reflects how you conduct repayments when you have borrowed funds from banks. 

  1. What is a Good Credit Score?

According to Indian standards, the CIBIL Score is between the ranges of 300 to 900. Within this range, anything above 700 is considered good. 

  1. Credit Score affects which types of loan?

Your Credit Score is generally important, but even more so when applying for unsecured or collateral loans. Here the lending bank can only rely on your Credit Score while disbursing the loan amount; thus, your Credit Score becomes vital to loan approval. 

  1. How to Improve Credit Score?

You can improve your Credit Scores through various ways, such as:

  • Repay loan amounts and associated EMIs on time.

  • Spend only around 50% of the credit limit available on your credit card. 

  • Apply for different forms of credit cards and create a credit history.

  1. How is Credit Score calculated?

You Credit Score is essentially a numerical amount derived after an algorithm is applied to your credit history. While every institution has its algorithm, certain factors such as payment history, credit type, credit age, etc., are generally considered. 

  1. If I check my Credit Score, will it affect my CIBIL Score?

When you check your Credit Score, the act is considered a soft enquiry and has no impact on your Credit Score. 

  1. Should I monitor my CIBIL Score regularly?

Since checking your Credit Score does not affect the score itself, you can monitor it regularly. Checking might provide you with the information needed to improve or manage your score and allow you to apply for the right kind of loans and credit cards. 

  1. What is the cost to get a Credit Score report?

At HDFC Bank, an official partner of CIBIL, you can check CIBIL Score. Click here, input basic details, and find out your CIBIL Score in mere minutes! 

  1. What is the minimum CIBIL Score to get a Personal Loan?

To apply for a Personal Loan, the higher your Credit Score, the better your chances of getting loan approval. Usually, banks approve loans for candidates whose Credit Score is 750 or above. 

  1. How long does CIBIL hold the record?

CIBIL keeps track of people on the Defaulters’ List and the details of their defaults. CIBIL holds this report for 7 years from the date of the first late report.