The loan has become an unskippable part of human life. Whether you plan for your dream home or purchasing a new vehicle, you have multiple reasons to apply for a loan. You can apply through various banks and NBFCs, but whether you qualify for the loan or not matters the most.
Yes! Before you proceed to the documentation level, the bank checks your cibil score. Your cibil score plays a significant role in decision-making.
What is a Cibil score?
A cibil score is a parameter that banking and NBFCs use to check whether the candidate/person qualifies for the loan or not. A cibil score is the most crucial factor in the finance industry.
Whether you are planning for a car loan or a home loan, it's crucial to ensure you have a good cibil score that qualifies you for the desired amount. You should note that many other factors are considered to decide the final loan amount. However, a cibil score is the initial qualifying factor. Continue reading
