How to Improve Your CIBIL Score?
Repay your dues in time
Your ability to repay your dues timely is a testimony to your credibility. It is vital to be disciplined in repaying.
Set credit limit
It is safe to set a credit limit for yourself and use less than the limit to maintain your credit score.
Opt for long-tenure loans
Chances of you being a defaulter in long-term loans are low, as the EMI is easy to pay.
Avoid multiple loans at a time
Maintaining the least number of loans positively impacts your credit score, as less no. of loans means less chances of you being a defaulter.
Know your capability
Taking out a loan to repay another loan without considering your repayment capacity can trap you in the vicious cycle.
Maintain credit history
Having a credit history is necessary to maintain a credit score, regardless of whether you take out loans or not.