A CIBIL score is a three-digit number between 300 and 900 generated by the Credit Information Bureau. The CIBIL is generated based on every individual’s credit history and determines the creditworthiness of the borrowers. There are different cibil score range and they can varry.
Here are different Cibil Score Ranges.
NA/NH: If the borrowers have not taken any loan or not used the credit cards, then it indicates that they don’t have any credit history and they will have a CIBIL score of NA/NH which means it is either “not applicable” or no history”.
300-599: A CIBIL score between the range of 300-599 is considered as a poor CIBIL score. With this credit score, there are more chances of getting a loan application rejected as the borrowers have a high risk of becoming a defaulter.
550 – 649: If you have a CIBIL score between the range of 550-649, then the chances of getting a loan approved is low. This range is considered a fair range, but only a few lenders would consider providing credit if they have a credit score in this range.
650 – 749: The credit score between this range is considered as a good CIBIL score. The financial institutions c may approve the loan application quickly but may still charge a high-interest rate on the loans.
750 – 900: The CIBIL score in this range is considered as an excellent CIBIL score. The chances of getting a loan approved at best interest rates are higher if the credit score is between this range.
Continue Reading : How to compare different CIBIL Score Range?
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