CIBIL Score Demystified: Why It Matters and How to Improve It in India

Anjalisharma01 Aug, 2023Finance

Achieving financial freedom requires a profound comprehension of the importance of your credit score. In India, four major credit bureaus, namely TransUnion CIBIL, Experian, Equifax, and CRIF High Mark, collate credit scores and reports based on an individual's payment habits, borrowing tendencies, and credit history. Among these bureaus, the CIBIL score provided by TransUnion CIBIL holds significant sway with most NBFCs and financial institutions. Your CIBIL score exerts a crucial influence on your borrowing capacity, interest rates, and overall access to various financial opportunities.