A CIBIL Score is a consumer’s credit score. It is a three-digit numeric summary of a consumer’s credit history. This is based on past credit behaviour, based on borrowing, and repayment history shared by lending institutions with CIBIL on a regular basis.
The CIBIL score is based on various factors such as repayment history and discipline on loan accounts or credit cards, payment status, outstanding amounts, and delayed payments. This number ranges between 300 to 900. The closer a CIBIL Score is to 900, the higher the chances of the consumer’s credit card or loan application getting approved.
The CIBIL score in effect is an indicator of a consumer’s creditworthiness.