What Is A Good CIBIL Score For Personal Loan? Don’t Know! Read It Now

To get a personal loan, you need a good credit score. However, little is heard about what actually a good score means. The credit score range is from 350 to 900. A score above 750 is considered to be an excellent score. An individual with a score above 650 is considered to have a good score. Generally speaking, every score range has its own specifications and drawbacks. It is important for you to understand every range before you actually find out where you belong. A good credit score comes with a lot of benefits like instant approval and a low rate of interest. To get one, you need to know what a good score is. Check out my credit score range with a detailed description.

Credit score range

●    300-549: Having a credit score in this range is not at all recommended. There are high chances that with a credit score in this range you will face loan rejection. Even if you get a loan, you will find it very expensive. The rate of interest along with fees and charges will be high. This means you need to improve your credit score.

●     550-649: A credit score in this range is particularly an average score. This means you will find it difficult to get a personal loan. Even if you get one it will not be an affordable one. You will have a loan with a high rate of interest and high charges. If you have a credit score in this range you need to improve it.

●   650-749: A credit score in this range is a good credit score. You should experience little to no problems with loan providers giving you the credit you require. It helps you with a low rate of interest and the approval rate is faster. A score in this range is a good one, with enough opportunities to explore the debt portfolio.

● 750-900: A credit score above 750 is an excellent credit score that offers you an amazing borrowing experience. Approvals on your loan requests will never be rejected. In fact, you can actually negotiate for better interest rates and lower restrictions at this point. This allows you to get any kind of loan. A credit score in this range will help you get the best borrowing experience.

Wrapping up

How to check credit score? Find my credit score option by visiting the official website of Clix Capital. It helps you with instant approval and the rate of interest is also affordable.

Location: Gurugram, Haryana, India

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