CIBIL Score Tips– In today’s time, people’s expenses have increased a lot. In such a situation, it has become very difficult for people to save money. Due to lack of savings, most people take a loan from the bank when they need money, but taking a loan from the bank or getting it approved is not an easy task. The bank looks at many things to approve your loan. The most important thing among these is the CIBIL score. To get a loan approved from the bank, your CIBIL score should be good. If you have a bad CIBIL score, it is very difficult to get a loan from any bank.
If you want to take a loan from a bank and your loan is not getting approved due to a poor CIBIL score, then today we will tell you about 4 ways by which you can improve your CIBIL score in a short time. Let’s know.
Do not take more than one loan
If you have already taken a loan and you take another loan before repaying that loan completely, then it spoils your CIBIL score. Taking more than one loan shows that you are trapped in a debt trap. In such a situation, do not take more than one loan to improve your CIBIL score.
Pay EMI on time
Always pay the EMI of any of your outstanding loans on time. Delay in paying EMI leads to you paying a penalty, which affects your CIBIL score.
Don’t take short term loans
If you take a short-term loan, your monthly EMI will be higher. In such a situation, you may get delayed in paying the EMI, which will affect your CIBIL score. Taking a long-term loan will reduce the EMI, which you can easily pay from time to time.
Maintain your credit card limit
The way you use your credit card also affects your CIBIL score. To increase your CIBIL score, pay your credit card bills on time and do not spend more than your credit card limit.
