Cibil Score

A CIBIL Score is a consumer's credit score. Simply put, this is a 3-digit numeric summary of a consumer's credit history and a reflection of the person's credit profile.

What is a CIBIL Score?

The Credit Information Bureau (India) Ltd, popularly known as CIBIL is a Reserve Bank of India (RBI) authorised credit agency. It offers CIBIL scores and CIBIL reports for individuals. A CIBIL score is generated by the bureau after considering an individual’s detailed credit information. The agency also offers credit report services to the banks and other NBFC (Non-banking financial companies). A CIBIL score is a three-digit number between 300-900, 300 being the lowest, that represents an individual’s credit worthiness. A higher CIBIL score suggests good credit history and responsible repayment behavior. CIBIL scores are calculated on the basis of at least 6 months of historical financial data of an individual. The data is fed into an algorithm with 258 different variables; each with a different weightage.

A CIBIL Score is a numeric summary of credit history that is calculated based on the following factors:

Track Record of Past Payments	Record of all past repayments Consistently making payments on time leads to a higher score Delayed payments leads to a lower score Recent delayed payments makes a more negative impact
Previous Settlements, Defaults, Write-offs	Recent write-offs impact more negatively than older ones Multiple write-offs lead to lower score Write offs documented by lenders on previous debts lower score Delays or defaults on secured loan repayments impact more negatively than unsecured loans
Loans as Proportion of Income	Low loan balance indicative of healthy credit usage and thus higher score High loan balance reduces score
Secured Loans vs. Unsecured Loans and credit cards	High credit card balances lower score Reliance on unsecured loans (credit cards) over secured loans viewed negatively Lesser number of such accounts coupled with frequent payment history pushes up score
Loan Equities	Many loan enquiries to avail loans indicative of “credit hungry” behaviour, negatively impacts score

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