What Is Considered a Good CIBIL Score for Getting a Personal Loan?
In India, your CIBIL score is one of the most important factors banks and NBFCs look at when deciding whether to approve your personal loan application. A good score tells lenders that you’ve managed your past credit well and are likely to repay future loans on time. So, what exactly is considered “good” when it comes to your credit score? ✅ A Quick Look at the CIBIL Score Range: 300–549: Poor – High risk, very low chances of loan approval 550–649: Fair – Some lenders may consider, but interest rates will be high 650–749: Good – Decent chances of approval with moderate interest rates 750–900: Excellent – Higher approval rate, better loan offers, lower interest rates 👉 For personal loans, a score of 750 or above is generally considered ideal. 💡 Why Is a Good Score Important for Personal Loans? Personal loans are unsecured loans, which means the bank isn’t taking any assets as security. Because of this, they rely heavily on your CIBIL score to assess the risk. A strong sco...