Z Cherry Blog

cibil score:

July 10th, 2009

On the basis of how you have been regular in making your payments towards your credit cards and other loans, the credit information bureau of India gives a rating to every person. This rating is known as cibil score and this score is very helpful for the member banks in taking lending decisions quickly and fairly. It cuts down the risk factor and holds back the bank to give away funds to a defaulter. It is on the basis of this score that banks decide on how much funds should be given to any person or whether a credit card and a loan should be issued to you or not.

Entry Filed under: Business