Easy way to understand your CIBIL Report in India and what inferences can you make

Table of Contents

Your CIBIL report is a comprehensive document that contains information about your credit history, including information about your credit accounts, payment history, and credit inquiries. Understanding your CIBIL report can help you identify areas where you need to improve your credit behaviour and increase your chances of getting approved for a loan.

Here is an easy way to understand your CIBIL report in India:

1. Personal Information

The first section of your CIBIL report contains your personal information, such as your name, address, and date of birth. Make sure that this information is accurate and up-to-date.

2. Credit Score

The second section of your CIBIL report contains your credit score. This is a three-digit number that ranges between 300 and 900, with a higher score indicating a better credit history. A score of 750 or above is considered to be good.

3. Credit Information

The third section of your CIBIL report contains detailed information about your credit accounts, including credit cards, loans, and other types of credit. This section will show the credit limit, outstanding balance, and payment history for each account.

4. Enquiries

The fourth section of your CIBIL report contains information about credit inquiries made on your credit report. This includes information about hard inquiries and soft inquiries. Hard inquiries are made when you apply for credit and can lower your score, while soft inquiries are made when you check your own credit report and do not affect your score.

5. Public Records

The fifth section of your CIBIL report contains information about any public records that have been reported to CIBIL. This may include information about bankruptcies, judgments, or defaults.

In conclusion, by understanding your CIBIL report, you can identify areas where you need to improve your credit behaviour. It’s always better to check your report regularly and dispute any errors with the credit bureau. Additionally, you should focus on paying your bills on time, keeping your credit utilisation low, and limiting credit applications to boost your score.

Where to get Low CIBIL Score Loan

Omozing 

Omozing helps make Smart Money Moves for a Lifetime. They strive to get lowest interest rates and best terms for your Online Applications at www.Omozing.com . We’ve made business lending smarter, faster and easier by transforming the approval process from stumbling blocks to stepping-stones. This enables borrowers to not just get access to capital, but also understand what areas they need to work on in order to enhance their credit profile. Omozing ensures that Borrowers get a secure, safe and reliable application process that be tracked online.

Personal Loan Interest Rates starting from 0.8% p.m, and Loan amount ranging from INR 10,000 to INR 25,00,000. The Minimum and maximum repayment period ranges from 1 month to 48 months.  CIBIL 600+ all company categories (including LLP, Self Employed, Proprietorship)

5 Reasons to choose Omozing

1. Loans from INR 10k to INR 25 lakhs

Personal Loan Interest Rates starting from 0.8% p.m, and Loan amount ranging from INR 10,000 to INR 25,00,000. The Minimum and maximum repayment period ranges from 1 month to 48 months.  CIBIL 600+ all company categories (including LLP, Self Employed, Proprietorship)

2. Cutomised Tailor Options

  • Depending on your demands, we may provide quick financing of varying quantities at affordable interest rates.
  • You have the freedom to utilise your loan anyway you want, whether for business or for immediate personal needs.
  • Flexible repayment options from 3 months to 3 years depending on your specific cash flow and budget, as well as conditions that is beneficial to your position.

3. Lower CIBIL

While most lenders require borrowers to have a CIBIL score of over 750, at Omozing.com provide loans even with 600.  Besides the CIBIL score, we also considers your age, employment status, and net monthly income.

4. Ways to apply

You can apply for a personal loan through us by 2 ways:

1. You can download our Mobile Application from Google app store.

2. Apply on portal using out Personal Loan link

5. Prompt Loan Disbursal

An easy online application process facilitates speedy verification and disbursal of loan. Get KYC verified from the comfort of your home and have our loan manager take care of an instant transfer of funds to your account. Money in Bank account in 24 hours post Loan approval.

Please read more CIBIL Score related Blogs below: