CIBIL Full Form

CIBIL is the term used in the context of loans which are granted by banks to borrowers. Full form of CIBIL is Credit Information Bureau India Limited; it is used by the banks to check the history of the borrower and whether or not the borrower will be able to repay the loan or not on the basis of past credit history. CIBIL score range is 300 to 900, within this range there is no ideal CIBIL score but the more the score the better are the prospects of individual getting the loan approval from the bank or financial institution.

For example, if one individual has CIBIL score of 800 and other has a score of 850 and the bank has to choose between the two then it will choose the borrower who is having CIBIL score of 850. CIBIL takes into account many variables before arriving at a definite score so factors like timely repayment of loan installment, less use of credit card limit and so on are good for credit score whereas factors like defaulting on loan installment, credit card payment delay, multiple loan accounts and so on will lead to lower credit score.

As one can see from the above that CIBIL score is of paramount importance when one is thinking about taking a loan from banks or financial institutions because a bad CIBIL score will not be viewed as the good thing by the lender and chances of getting loan will be next to nil in case of very bad CIBIL score. Hence one should keep factors which improve CIBIL score in mind and try to avoid the negative factors so that the loan does not get rejected due to bad CIBIL score.

0 comments… add one

Leave a Comment


Related pages


what is fictitious assetswhat is unqualified audit reportcommodity swapswhat is the full meaning of fmcgdifference between implicit cost and explicit costmeaning consigneepurchased goods on credit journal entriesconsignor meaningadvantages and disadvantages of delegation in managementadvantages of autocratic leadershipdictatorship advantages and disadvantageswhat is the difference between systematic risk and unsystematic riskpros and cons of mixed economypros of urbanizationcomplements in economics examplestrade discount entrydefine predeterminationadvantages of process costingdefine operating leasepreliminary expenses meaningmeaning of regional rural banksdefine inferior goods in economicsprepaid rent expense journal entrydifference between corporation and conglomeratecharacteristics of socialist economyjunk bonds advantagescheque exampleswhat is privatisation in economicsadvantages disadvantages diversification strategyzero based budgeting pros and consdisadvantages of cost based pricingdisadvantages of planned economydifference between import tariff and import quotawhat is autocratic leaderjunk bonds advantagesadvantages and disadvantages of organizational structuresadvantages of unrelated diversificationdisadvantages of debenturesexamples of substitution effectaudit evidencesexamples of mixed economy countrieswhat does the law of diminishing marginal utility statemeaning of accrued interestdebit cards advantages and disadvantageswholesale funding vs retail fundingconcept of materialityppf account benefitsmonopolistic companycore product augmented productunearned revenue on a balance sheetwhat are horizontal mergersgaap full formcompetitive advantages and disadvantagesadvantages of job costingadvantages of ppflimitation of financial accountingplanned economies examplescapitalist economy advantagesskimming pricing strategy advantages and disadvantagesurbanisation wikiexamples of conglomerate merger companiesconvertible and non convertible preference sharesqualified and unqualified audit reportsensex full formexplain debenturesdeferred income journal entrywhat is unsystematic riskcharacteristics of oligopoly market structuredifference between shares and debentures and bondswhat does penetration pricing meanpublic goods pptdisadvantages of specialisationskimming pricing advantagestransfer pricing disadvantageswhat is the meaning of consignordiscounting of bills meaningexamples of substitution effect