What is CIBIL score?
The image shows a digital dashboard with a scale between 300 and 900 and a number highlight of 750. In fact, CIBIL score is a three-digit number that shows how trustworthy you are. A score of 750 or above is considered good, while a score below 730 is considered risky.
What will be the new rule of RBI?
In this picture, the date of 1 April 2027 has been marked on the RBI headquarters and a calendar. According to reports, the ECL framework will come into effect from this date. In this new rule, banks will have to make provisions in advance by estimating the potential bad loans (NPA). The direct impact will be that banks will be very hesitant to give home loans, car loans or education loans to those with a CIBIL score below 730.
The first step - Official website
In the photo, the CIBIL homepage is open on a laptop, in which the 'Get Your Free CIBIL Score' button is clearly visible. This is the most secure and official way to check your score. All you need to do is enter your name, email address, and phone number.
Identify yourself
In the photo, he is seen holding a PAN card in one hand and a voter ID card in the other. To verify your identity on the website, you have to provide information such as PAN card, passport or voter ID. This step is necessary only for your report to reach you.
The OTP will be verified
In the image, an OTP (one-time password) message is seen on a mobile phone screen. After this, an OTP will come on your registered mobile number, which you will have to enter. This process confirms that you are the one to see the score. Your CIBIL score will appear on the screen [citation: 1].
Download free report
The image shows a file of a PDF document with 'CIBIL Report' written on it. According to the rules of RBI, every person can download his full CIBIL report for free once a year. This report not only contains your score but also a complete history of all your current accounts and loans.
Check with your smartphone
The photo shows a smartphone in one hand with an app like Google Pay or PhonePe open on the screen. Don't worry if you don't have to open the laptop. Nowadays, there is also a facility to check CIBIL score on payment apps like BHIM, Google Pay, or PhonePe. This method is very simple and fast.
Score in just a few clicks
The image shows the 'Credit Score' option inside the app. Select the 'Check CIBIL Score' or 'Credit Score' option in the app, fill in your mobile number and PAN card details, verify the OTP and simply click on 'Verify OTP'. After a few seconds, your score will be displayed on the screen.
Is it safe to check it over and over again?
Another photo showing the 'Soft Fetch' symbol, that is, it does not affect the score. There is a common misconception that checking the score again and again spoils it. But that's not correct. When you check your score yourself, it is called 'soft fetch', which does not have any negative impact on your credit score.
What happens if the loan is repaid?
The image shows a 'Rejected' stamp on an application form and a 'What to do' guide next to it. If your loan has been rejected, don't despair. This means that you need to improve your credit history. Start paying EMIs and credit card bills on time, avoid taking excessive loans and do not apply for multiple places at once.
Keep a good score, secure the future
In the last picture, some people are happily shaking hands, who are taking the key to a new house. This is a picture of the future that is possible with a good CIBIL score (730 +). In the changing banking regulations, a good CIBIL score will be the biggest strength of your financial credit. Therefore, pay attention to your score in time.