An individual’s CIBIL score is one of the first things that lenders check when a person applies for a loan. The CIBIL score is a three-digit number ranging from 300 to 900. This number is important as it reflects a person’s repayment capacity. A good credit score, i.e. anything in the range 750 to 900 indicates high creditworthiness and ability to repay loan money on time. Thus, borrowers who have such a credit score get approved for a loan quickly and are also able to negotiate with lenders for beneficial terms and conditions on their loans, such as low-interest rates, higher loan sanctions, etc. On the other hand, applicants whose credit score falls below 750 often find it difficult to get approved for a loan. If your CIBIL score is between 700 and 749, you will be approved for a loan, but it is quite likely that you will find yourself repaying this loan at a higher interest rate than you had anticipated. Lenders in India require applicants to have a CIBIL score of at least 750 to be eligible for a loan.

Borrowers must check their CIBIL score as without a good CIBIL score, it is nearly impossible to get approved for a loan and if a person’s CIBIL score is below 750, improving it would take time. Further, sometimes, a person’s CIBIL score goes down due to wrong information passed by financial institutions to credit information agencies. Such errors can cause a person’s CIBIL score to go down. However, rectifying these errors takes time, more often than not, easily over a month. So, one must check their CIBIL score from time to time so that they can take the required action promptly if their CIBIL score is below 750. 

So, how does one check their CIBIL score? To check your CIBIL score, simply follow these steps:

1. Go to the official website of TransUnion CIBIL. 

2. Once there, select the option ‘Get Your CIBIL Score.’

3. Next, you will be asked to log in by entering your name, email ID and password. 

4. Submit an ID Proof, such as Aadhar or PAN. 

5. After this, enter your phone number, PIN code and date of birth.

6. On the next screen, select the option ‘Accept and Continue.’

7. Once you select this option, you will receive an OTP on your phone number. Enter the OTP and choose the option ‘Continue’.

8. Next, choose the option ‘Go to Dashboard’ and then the option ‘Check Your CIBIL Score’. 

9. You will now be taken to the website  myscore.cibil.com.

10. Select ‘Member Login’ and as soon as you do this, select the option, and you will be able to check your CIBIL score.

You can subscribe to TransUnion CIBIL and have them send you your CIBIL report on a monthly, bimonthly or yearly basis. However, opting for this facility would require you to pay a small fee. These days, many websites allow individual borrowers to check their CIBIL score for free. All one must do to check their CIBIL score on any such website is share certain details, such as name, phone number, PAN, etc. The information shared will remain safe and one need not worry about any kind of safety breach. However, one must keep in mind that one will get the most reliable report on TransUnion CIBIL’s website and therefore, one must always prefer to go with this option. 
To know more about Essential Steps And Tips To Check Your CIBIL Score just follow the link.