Need a Home Loan? Ensure a Great Credit Score! [Infographic]

Updated on November 19, 20181 min read

If you have been thinking about applying for a home loan, one of the first things we suggest you do is check your Credit Score. This is because, even if you have a low credit score, you can work towards improving it over a few months time. You can apply for the loan after these efforts have borne fruit, as a good credit score is a key requirement in the loan approval process.

According to CIBIL, the largest CIC in India, 79% of the loans approved are for individuals with a score greater than 750

In case you are wondering what is a credit score – do read here!

There are number of ways you can work towards improving your credit score, here is a quick infographic on the same.

For a more detailed read on the same – read here.
Credit Score

Applying with a high credit score (over 700 if it is the CIBIL score) is one of your strongest bets towards getting your home loan sanctioned. So if you haven’t already, check your credit score and start improving it right away!

PS: In case you have a poor credit score and need a loan urgently, here are some suggestions.

1 COMMENTS

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  1. Anand
    Dec 26 2015 at 4:29 pm
    Reply

    Hi which is better for electricity supply. Should we take it from rinfra or Tata power