While evaluating a loan application, lenders look at the CIBIL score, which is an essential factor. But it's necessary to know about CIBIL score and how it is calculated before having any loan.
CIBIL score is a 3 digit numeric summary of your credit history. Credit history is derived by using details from the accounts and inquiries sections of your CIBIL report. The payment status of your loan account and credit cards, as well as the outstanding amount's days past due, plays a significant role in your CIBIL score.
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