If you are thinking to increase your CIBIL Score and have a question about how to increase it then you are on a right article.
The score of your credit is managed by the Credit Information Bureau India Limited and the range is between 300 to 900.
By the basis of this score you can get any kind of loan if your eligibility criteria is fulfill to take. Because this is the only point your score of credit varies.
Hare are the sample of the range of Credit Score:ย
| Poor | 300-579 |
| Fair | 580-669 |
| Good | 670-739 |
| Very Good | 740-799 |
| Excellent | 800+ |
If you want to check your Credit score then you can check it online as well as offline both.
But if you are going to take any finance or loan form any financial institution like any bank or company then they will check and generate your credit score report.
And you have the score in physical form.ย If you have taken any mortgages or finance or loan and you have mistaken your EMI payment.
It gives you your credit score down . But you donโt worry my friends, you donโt have to look at your past, we are here to increase your CIBIL score.
In this post you will find the various 5 top tips to increase it as below:
1. Set Reminders to Repay on Time
If you are missing your repayment of EMI then this is big mistake and this can destroy your credit score. You have to know that this will impact directly to your credit.
So friends, to avoid this omission you have to set a reminder on the date on which you are scheduled to pay your loan EMI.
2. Check Errors in your Credit Report
If you seems that your feel that your loan is now closed but again it is reflecting in your credit report, then you have to contact your financier.
For example, if you have taken a loan from X Bank and you have paid all the EMIs of that loan completely is showing that the loan is not closed.
The X Bank and told him related to this loan not closed.
Sometimes this error happens due to some reason but bank or lender will close your loan and donโt forgot to take NOC (No Objections Certificate) from them.
3. Clean all Credit Cards
If you are still using credit cards, then please we suggest you to try to pay your credit card bill well in advance before the due date.
And please close all your credit cards and your score will be increase.
4. Avoid taking too many loans at a Time
You should always avoid to take too many loans at the same time because if the EMI of even one loan is missed then it will directly reflected on your CIBIL score care. So we suggest you to please pay the loan repay on time and try to avoid many loans on same time.
5. Choose a Longer Tenure
Whenever you take any type of loan then please make sure that you are taking it for a long period. With this it will help you to pay less EMI as well as enough time to pay all the payments on time.
How Long will It Take to Increase Your CIBIL Score?
One thing you must have to know that once you maintain your correct credit history then no one will stop to increase your cibil score to increase.
So friends, first clear all your pending bills/ EMIs to rebuild your credit history because this is the only way to increase your credit score immediately. Sometimes it will take upย to 3 days to 2 years long to increase.