Your lender considers a number of factors at the time of processing your loan application. And one of the most important factor among these is your credit score. Your credit score is a numerical evaluation of your creditworthiness – namely your capacity to repay your outstanding debt.

Your credit score is based on your credit history and credit report. It ranges from 300 to 900 – and usually, higher the score, better the chances of you getting the loan. The minimum CIBIL score for Loan depends upon the kind of loan you wish to avail.


Keep a check of your credit report if you have a low credit score. Having a poor credit score can reduce the odds of your loan application getting approval. Improve your loan credit score before you apply for a loan and find higher chances of getting your loan.
If your CIBIL score is low, you can increase your Credit score by taking these steps:
· Check your credit report
· Pay your bills on time
· Spend within the credit utilisation ratio
· Avoid applying for multiple loans in a short span of time
· Get a secured credit card
Once you have the minimum credit score for loan approval, you can easily avail a loan to fulfil your financial goals with lenders like Bajaj Finserv.