Check free credit score

Your credit score is the primary factor that determines whether a bank or a financial institution will provide you a loan or not. Before approving a loan, a financial institution checks the credit score and asks for the credit report of the borrower from one of the three credit bureaus of the nation. Having a good credit score i.e. more than 750 is beneficial in several ways. It will help you to get your loan approved quickly and on lower interest rates. The higher your credit score is the better is your creditworthiness. According to the guidelines of the Reserve Bank of India (RBI), the rate of interest to be charged on a loan is determined as follows: External benchmark rate + margin charged by bank + risk premium. The risk assessment determining criteria for borrowers varies from bank to bank. Some banks rely solely on the credit score of the borrower while other banks and NBFCs have their own internal risk assessment teams. So, keeping a watch on your credit score is import...

A credit score depends upon your financial reports, which is a summary of the credit history. While a score that is at least 750 helps you get a loan on your favorable terms, you can easily remedy a score that is less than ideal. Focus on all the factors that can improve your credit score and take conscious measures to improve it. If you maintain the measures and conduct  a free credit score check with the time you will surely end up having a good credit score.  Improve your credit score by the following measures Pay bills on time:  Paying your credit card and debt repayment bills on time is not an option, rather a responsibility. If you are a person bad with dates, then you can automate your payment from your financial accounts. The monthly collections are necessary and you need to make the bill payments on time without fail. Use a single credit card : Do not tempt yourself to go for multiple credit cards. It is not a responsible act t...