Credit Score
At Genial Financial, we understand how important your CIBIL score is when it comes to your financial journey. This three-digit number is a crucial indicator of your creditworthiness and plays a major role in how lenders evaluate your loan repayment capacity. A strong credit score not only boosts your financial credibility but also enhances your chances of quick and hassle-free loan approvals. That’s why we’re here to help you build, maintain, and improve your credit profile with smart financial planning.
What Is the CIBIL Score?
At Genial Financial, we believe that understanding your credit health is the first step toward smarter financial decisions. One of the key components of this is your CIBIL score — a three-digit number that reflects your overall creditworthiness.
This score is evaluated by credit bureaus, officially recognized by the Reserve Bank of India (RBI), with TransUnion CIBIL being one of the most prominent and trusted among them. These agencies collect and analyze your financial data to generate accurate credit scores, helping lenders, including us at Genial Financial, assess your loan eligibility quickly and effectively.
Whether you’re applying for a personal loan, a home loan, or a business loan, your CIBIL score plays a major role in the approval process. A good credit score indicates financial reliability, which makes it easier for you to access credit when needed.
It’s also important to understand the difference between a credit report and a credit score. While your credit score provides a quick snapshot of your financial health, your credit report offers a detailed view — including loan history, credit card usage, repayment patterns, and personal details. Both are essential tools for evaluating your financial standing.
At Genial Financial, we’re here to help you navigate the world of credit with confidence. Whether you need help understanding your credit report or tips on improving your score, our team is here to guide you every step of the way.
Credit Score Range
| Credit Score Range | Rating | Description |
|---|---|---|
| 806 – 900 | Excellent | This helps to get the best possible offers on loans with lower interest rates. |
| 761 – 805 | Very Good | This is the ideal score. |
| 736 – 760 | Good | This can be improved quickly. |
| 681 – 735 | Fair | This is not a good score and should be improved. |
| 601 – 680 | Doubtful | This is not a good score and should be improved. |
| Below 601 | Bad | This is not a good score and should be improved. |
How to Check Your CIBIL Score?
Most credit bureaus allow individuals 1 free credit score check. For instance, if you would like to know your CIBIL score, you can log into the CIBIL website and create a free account. Enter your details. A valid ID such as your PAN, Voter ID, Ration card, Passport etc. and the corresponding number is required. After successful account verification, you will be able to see your CIBIL score.
Next, based on this score, you can select a lender and apply for a loan. Please remember that most bureaus allow you to check your CIBIL score online only once through a free account. A paid account will enable you to check your credit score more times in a year.
What are the requirements to check Your Credit Score?
PAN Number
Personal Details
Employment details
Apply for a loan or credit card
How is Credit Score Calculated?
A credit score is calculated based on several key factors, including your credit history, previous loan rejections, credit utilisation, and more. It reflects your financial discipline and repayment behavior. Over 200 variables are considered as inputs for the algorithm used to generate your credit score, providing a comprehensive picture of your creditworthiness.
Key factors that influence your credit score include:
- History of Bill Payments: Lenders typically review your repayment history over the past 6 months to gauge reliability. Timely payments help improve your credit score.
- Active Loans: Having multiple ongoing loans can impact your ability to secure new credit or may lead to higher interest rates.
- Type of Loans: Secured loans (e.g., car loans) are less risky for lenders and may require a lower credit score compared to unsecured loans.
- Delayed or Missed EMIs: Missing monthly instalments can lower your credit score and reduce your chances of loan approval.
- Multiple Loan Applications: Frequent applications trigger hard inquiries, which can temporarily lower your score. It’s best to apply only when necessary.
- Credit Card Utilisation: Keeping your usage below 30% of your credit limit indicates healthy financial management and positively impacts your score.
What Are the Factors Considered in Calculating a Credit Score?
Here’s a quick overview of the elements that influence your credit score calculation:
- Recent credit and repayment activity
- Length of your credit history
- Number of credit inquiries in a short span
- Diversity in your credit types (loans, cards, etc.)
- Total outstanding debt
- Credit utilisation versus the available limit
This information is brought to you by Genial Financial – empowering smarter credit decisions.
