Check Free Credit Score

A credit score is an important measure that lenders such as banks and non-banking finance companies consider before approving your loan or credit card application. Getting credit from lenders comes in handy as it increases your financial independence and brings you closer to your dreams of buying a car or a house. Therefore, it is important to maintain a high credit score. What is a credit score? A credit score is a measure of your creditworthiness. It is a 3 digit number between 300-900 that offers summary of your credit report and measures credit risk based on your credit history and repayment behaviour. Your credit score are calculated by credit bureaus in the country that are regulated by the Reserve Bank of India (RBI). Currently there are a total of four credit bureaus in India viz; TransUnion (CIBIL), Equifax, Experian Credit Information Company and High Mark Credit Information Services. Importance of checking your credit score regularly Know your credit status: ...

A credit score is a 3 digit number between 300-900 which represents your creditworthiness. Majority of banks and non-banking finance companies (NBFC) consider a credit score of 750 and above as ideal. Low credit scores will brand you a risky borrower and bankers will be hesitant to approve your loan or credit card application. On the other hand, a high credit score improves your chances of not only getting better deals, rewards and benefits on your credit card but also for lower interest rates on loans. So, how can you increase your credit score to 750 and maintain it for a longer period? Let’s take a look at some of the important secrets to maintain a high credit score . Start the right way Building a credit history is a long-term process and requires patience. A good credit history is a result of a systematic and good buying as well as repayment behaviour. Therefore, you should start following a balanced credit usage behaviour right from the beginning as it will eventu...

It is important to have a controlled and systematic approach while spending your money, as it can affect your credit history. In order to build a credit history you need to have some good financial habits. A credit score acts as a key measure when it comes to getting an approval on you loan or credit card transactions. If you want to be eligible to get credit cards with good rewards and benefits and also got home or auto loans at low interest rate, you need to have a high credit score . A low credit score decreases your chances of getting a good deal on the aforementioned offers. Therefore, it is important to take efforts to rebuild as well as maintain it. Here are top 5 spending habits that you need to consider while rebuilding your credit: Making use of debit cards Using debit cards for all your purchases does not give you an opportunity to use the credit that is available to you via your credit cards. Unlike a credit card activity, all the purchases and bills paid b...

A credit score forms one of the most fundamental measures of an individual’s credit management debt repayment history. Credit scores are usually given out by major credit bureaus like TransUnion, Equifax and Experian. In India, credit scores can be obtained through the Credit Information Bureau India Limited (CIBIL). The score ranges from 300 to 900. The base limit for a good credit score is 700. Banks and Non-Banking Financial Companies rely on the CIBIL credit report to assess the credit history of an individual along with their utilization ratio and loan-related transactions. A credit bureau is usually informed of a cardholder’s payment details based on a code sent by the lender which ranges from one to nine. If a cardholder is successfully able to clear the dues within a 30-day billing cycle, a rating of ‘1’ is awarded to them. A rating of ‘2’ would indicate a late payment by 31-59 days and so on. The delayed payment is viewed by how recent the event is, and the severity a...

It is a well known fact that keeping a healthy credit score is essential to getting an approval for a loan. Usually a credit score of 750 and above is considered to be good and a credit score of less than 750 is considered to be poor. Companies like CIBIL and Experian provide credit score free once per year on their website as it has been made mandatory by the RBI to do so. However there are factors other than the credit score that determine whether a person will get approval for a loan or not. The factors are: The amount that will be paid as the down payment: While taking a loan, the sanctioned loan amount received by the borrower is a specified portion of the asset rather than the whole amount of the asset. This is known as the loan to value ratio and it usually varies based on the type of loan taken by the borrower. For instance, for a car loan, the loan to value ratio ranges from 85-95% of the value of the asset and for a home loan, the value ranges from 75-90%...

Nitin Gadkari, who is a Union Minister and senior BJP leader, is well-known for project management qualities. He is of the opinion that bringing both diesel and petrol under the purview of the present tax framework, which is Goods and Services Tax (GST), will bring down the revenue for the Central Government. According to Dharmendra Pradhan, who is the current Oil Minister, said that imposing the system of GST will reduce the prices of petrol and diesel by 50%. The opinion of the Minister of Maharashtra, Devendra Fadnavis, is completely different. He said that bringing these two widely used fuels under the GST structure is an ideal option to reduce unstoppably soaring fuel prices in India.  Check for Petrol price in India How does GST impact fuel prices? Here is a explanation. GST is presently charged at 5%, 12%, 18% and 28%. The products and services have been classified to collect GST. On petrol per litre, the VAT imposed in Delhi currently is 27%. The price charged to f...