Frequently asked questions on CIBIL transunion report Ahmedabad 9426497770 /079-40099917

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Frequently asked questions on CIBIL transunion report

Why CIBIL report is important?

CIBIL report is important due to various reasons:

• CIBIL reflects your credit history and score which is used by banks to take a decision to lend to you or not.
• Banks check your CIBIL score before approving the loan application.
• In some cases, landlords check CIBIL report before renting you a home.

Who writes CIBIL report? How do they know all this about me?

• CIBIL is a third party agency that maintains and periodically updates credit profile of borrowers and share the same with lenders, service providers such as mobile phone companies and borrowers (for a fee). There are four authorized credit bureaus in India as of now. Of these CIBIL is the oldest and has the widest coverage in terms of number of customer accounts. Newer ones like Experian, Equifax and Highmark are also growing fast.
• CIBIL receives information about your credit history from the respective banks and the lending companies. After which CIBIL compares and combines it into one report.

How is CIBIL report useful for banks and financial institutions?

• Gives comprehensive information to banks on your existing borrowings - CIBIL report reflects your credit usage and includes extremely useful information on the following aspects:
  • Number of loans and credit cards availed in past
  • Type of loan availed (secured or unsecured like personal loan, home loan, car loan, loan against property).
  • Total amount of credit availed and amount outstanding
  • Payment track record
  • Application track record
• Allows banks to get insights on your credit behavior and hence your ability and willingness to repay back their loans on time.
• Helps banks in taking a decision on other loan terms such as loan amount eligibility: Accurate information on all past loans availed and your current EMI obligations allow banks to accurately estimate your loan eligibility thus reducing the risk of over-leveraging and hence, default.
• Banks can also introduce risk-based pricing based on your report, thus allowing to offer low-interest rates to borrowers with high credit score and vice versa.

In summary, credit reports help lenders identify borrowers who are likely to pay back their loans and avoid borrowers who have a poor credit history.

તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની  જરૂરિયાત હોય, તો  મેહરબાની કરીને અમારો  સંપર્ક કરવા વિનંતી  ઘર બેઠા સર્વિસ આપવામાં આવશે

1. Gumasta ધારા (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
2. નોટરી / સોગંદનામું
3. જન્મ પ્રમાણપત્ર
4. લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર
5. પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના
6. નામ ટ્રાન્સફર વીજળી , મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી
7. પાન કાર્ડ નવા / કરેક્શન
8. gst return filing (through C A)
9. આવકવેરા રીટર્ન
10. કાનૂની દસ્તાવેજો સુધારાઓ
11. મની લોન્ડરિંગ લાયસન્સ
12. આરોગ્ય લાઇસન્સ
13. વ્યાવસાયિક કર
14. નિકાસ આયાત લાઈસન્સ
15. ડ્રાઇવિંગ લાયસન્સ, નવીકરણ, આંતરરાષ્ટ્રીય
16. મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
17. વેચાણ કરાર, વેચાણ ખત

અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો

સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.

અમે તમને ઘર બેઠા સર્વિસ પુરી આપીશુ

Solutions for your CIBIL Credit Report Problems Ahmedabad 9426497770 /079-40099917

Loan,credit card rejected ? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedababd INDIA www.veritastheteam.com

Solutions for your CIBIL Credit Report Problems

CIBIL or Credit Information Bureau Limited is a credit information company in India. A CIBIL Credit Report is a record of your credit history and is formed after collecting the records of an individual’s payments pertaining to loans and credit cards. Once the CIBIL score is calculated, it is sent to banks and financial institutions for evaluation. Each bank or credit institution has its own benchmark that constitutes as a good score. It differs across banks.

The credit scores and CIBIL credit report help the banks and credit institutions in determining if the individual is eligible to avail credit.

Where will the CIBIL Credit Report be used?

Your CIBIL Credit report or score plays a pivotal role in your financial journey. Your CIBIL score/ credit report acts as the first impression for the lender, the higher the score, the better the chances of the loan/credit card is approved. Listed below are some of the ways a good CIBIL score/ credit report can help you.

• Quicker and hassle-free approval for loans and credit cards.
• Lower interest rates.
• Easy approval for rented/leased houses and apartments.
• More negotiating power.
• Get approved for higher limits.

CIBIL Credit Score Problems and its Solutions

1. Error in your CIBIL Credit Report- Errors in CIBIL report can be something as minor as a spelling error in your name or address. Though this might seem like a minor error, it can cause damage. The other sort of damage you might incur is from a mistaken identity where you might find someone else’s loan details in your report or an overdue amount on a loan that you haven’t taken. These minor errors will bring down your CIBIL score drastically and might even lead to rejection of your application.
   Kind of errors that might occur in the CIBIL report
   1. Inaccurate current balance
   2. Inaccurate amount overdue
   3. Incorrect personal details
   Solution: The first step of the solution is to obtain a copy of your CIBIL credit report from CIBIL. Once you get access to the reports, analyze the errors and initiate a dispute by filing a dispute resolution form that is available on the CIBIL website. One has to provide their name, address, date of birth, a control number when they file a dispute resolution.
2. Days Past Due (DPD)- Days Past Due indicates the number of days payment on that account is late that month. Anything other than ‘000’ is considered negative by the lender. If your DPD indicates anything other than ‘000’ it will mean that you haven’t met your financial obligations and this might create a negative impression on your financial record.
   Solution: The best way to avoid unfavorable DPD is to pay your bills on time and avoid taking excessive, unnecessary debt so that you can honor your financial obligations without any hassles.
3. Bad credit history- A poor credit score or credit report will sabotage your chances of availing a loan, credit card or any other kind of credit.
   Solution: Listed below are the steps to follow to avoid or repair bad credit.
   • Pay your bills on time- Never delay your payments.
   • Avoid making minimum payments- Making minimum payments will land you in trouble in the longer run.
   • Avoid excessive debt- Moderation is the key. Take what you need.
   • Converse- If you are unable to make payments on time make sure to contact your bank or financial institution about a credit plan.

One can avoid CIBIL credit score by being responsible and taking necessary measures. It is easy to repair your credit score problems but it’s better to avoid it.

તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની  જરૂરિયાત હોય, તો  મેહરબાની કરીને અમારો  સંપર્ક કરવા વિનંતી  ઘર બેઠા સર્વિસ આપવામાં આવશે

1. Gumasta ધારા (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
2. નોટરી / સોગંદનામું
3. જન્મ પ્રમાણપત્ર
4. લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર
5. પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના
6. નામ ટ્રાન્સફર વીજળી , મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી
7. પાન કાર્ડ નવા / કરેક્શન
8. gst return filing (through C A)
9. આવકવેરા રીટર્ન
10. કાનૂની દસ્તાવેજો સુધારાઓ
11. મની લોન્ડરિંગ લાયસન્સ
12. આરોગ્ય લાઇસન્સ
13. વ્યાવસાયિક કર
14. નિકાસ આયાત લાઈસન્સ
15. ડ્રાઇવિંગ લાયસન્સ, નવીકરણ, આંતરરાષ્ટ્રીય
16. મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
17. વેચાણ કરાર, વેચાણ ખત

અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો

સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.

અમે તમને ઘર બેઠા સર્વિસ પુરી આપીશુ

Office:

VERITAS THE TEAM

127,Sahajanand Park

Nr Swaminarayan Temple

Shahibaug Ahmedabad 380004

Ph: 079-40099917,9426497770

Mail :veritas.smeet@gmail.com

www.veritastheteam.com

Credit Score: क्या आपका क्रेडिट स्कोर कम है, इन तरीकों से बढ़ाए अपना स्कोर 9426497770 /079-40099917

Loan, credit card rejected? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedabad INDIA www.veritastheteam

Credit Score: क्या आपका क्रेडिट स्कोर कम है, इन तरीकों से बढ़ाए अपना स्कोर

यदि आप इस साल या आने वाले समय में एक मकान या कार खरीदने के बारे में सोच रहे हैं तो आपको क्रेडिट स्कोर के महत्व को अच्छी तरह समझना होगा। क्रेडिट स्कोर भारत में सिबिल, एक्सपेरियन और ट्रांस यूनियन जैसी कई कंपनियां देती है। आपका क्रेडिट स्कोर सिर्फ एक नंबर नहीं है बल्कि यह आपके फाइनेंशियल हेल्थ का एक इंडिकेशन भी है और एक लेंडर आपके लोन रीपेमेंट बिहेवियर और क्रेडिबिलिटी को समझने के लिए इसे जरूर देखता है।

आम तौर पर इसी के आधार पर यह तय किया जाता है कि आपको लोन देना चाहिए या नहीं और लोन का इंटरेस्ट कितना होना चाहिए। यदि आप एक लोन के लिए अप्लाई करते हैं और खराब क्रेडिट स्कोर के कारण आपका एप्लीकेशन रिजेक्ट हो जाता है तो आपका क्रेडिट स्कोर और नीचे गिर जाएगा।

इसलिए एक बैंक में एक लोन मांगने के लिए जाने से पहले आपको ऑनलाइन पर अपने क्रेडिट स्कोर की एक सॉफ्ट जांच कर लेनी चाहिए। लेंडर्स आम तौर पर 750 के क्रेडिट स्कोर को बेहतर मानते हैं। इससे कम स्कोर वाला क्रेडिट स्कोर आपके लिए नुकसानदेह साबित हो सकता है।

आईआरसीटीसी दे रही 5000 डिजिटल मैगजीन पढ़ने की सुविधा, 86 फीसदी डिस्काउंट का ऐसे उठाएं फायदा

लेकिन आप अपने क्रेडिट स्कोर को बेहतर बना सकते हैं। आम तौर पर ख़राब फाइनेंशियल हैबिट्स जैसे लेट ईएमआई रीपेमेंट, लोन डिफॉल्ट, क्रेडिट कार्ड बिल का लेट पेमेंट या नॉन-पेमेंट, इत्यादि के कारण क्रेडिट स्कोर ख़राब हो जाता है। इसलिए आप अपने स्कोर को खराब होने वाले कारणों की पहचान करके और उन्हें दूर करके अपने क्रेडिट स्कोर को ठीक कर सकते हैं।

आइए इसके बारे में विस्तार से जानने की कोशिश करते हैं। किस वजह से आपका क्रेडिट स्कोर कम हो सकता है और इसे आप कैसे ठीक कर सकते हैं? यहाँ एक क्रेडिट स्कोर के नीचे गिरने के कुछ आम कारण बताए गए हैं।

लोन डिफॉल्ट

किसी लोन के डिफ़ॉल्ट होने या ईएमआई पेमेंट के बार-बार मिस होने के कारण एक व्यक्ति का क्रेडिट स्कोर नीचे गिर सकता है, चाहे उसने ऐसा जानबूझकर किया हो या अनजाने में। आपका क्रेडिट स्कोर आपके रीपेमेंट पैटर्न का एक प्रतिबिंब है। समय पर रीपेमेंट न कर पाने की एक वजह यह भी हो सकती है कि आपने अपनी रीपेमेंट कैपेसिटी से ज्यादा बड़ा लोन ले लिया है। अब से अपने मौजूदा लोन का रेगुलर पेमेंट करके आप अपने स्कोर को फिर से ठीक कर सकते हैं। इसका असर आपको कुछ महीने बाद दिखाई देगा।

अपडेट्स की कमी 

कभी-कभी लेंडर्स, क्रेडिट ब्यूरो को सही लोन स्टेटस बताने में फेल हो जाते हैं, यदि आपने पेमेंट क्लियर कर दिया है तब भी, जिसे आपने अतीत में मिस कर दिया था। इससे आपका क्रेडिट स्कोर ख़राब हो सकता है। इसलिए अपने सभी ड्यूज क्लियर करने के बाद लेंडर से ‘नो ड्यूज’ सर्टिफिकेट लेना जरूरी है। इसके अलावा, यदि आपकी क्रेडिट रिपोर्ट अपडेटेड नहीं है तो आप ‘नो ड्यूज’ सर्टिफिकेट की मदद से उस पर फोलो अप कर सकते हैं।

5 लाख के बीमा वाली आयुष्मान भारत योजना के तहत 100 दिन में इतने लोगों का इलाज हुआ

हाई क्रेडिट यूटिलाइजेशन रेशियो 

क्रेडिट रेशियो का मतलब है - इस्तेमाल किए गए क्रेडिट और मौजूद क्रेडिट का रेशियो। इसका रिकमेंडेड लिमिट 30% है। इससे ज्यादा क्रेडिट रेशियो आपके क्रेडिट स्कोर पर बुरा असर डाल सकता है। ऐसा इसलिए होता है क्योंकि हायर क्रेडिट यूटिलाइजेशन रेशियो से पता चलता है कि आप क्रेडिट के भूखे हैं। इसके अलावा, आपकी क्रेडिबिलिटी पर भी इसका बहुत बुरा असर पड़ता है। आप अपने कार्ड का क्रेडिट लिमिट बढ़ाकर या अपने खर्च को एक से अधिक कार्ड में बांटकर अपने क्रेडिट यूटिलाइजेशन रेशियो को कंट्रोल में रख सकते हैं और आपका क्रेडिट स्कोर भी ठीक रहेगा।

एक लोन गारंटर बनने की जिम्मेदारियां 

यदि आप किसी के लोन के गारंटर बने हैं तो आपके क्रेडिट स्कोर पर उसके लोन रीपेमेंट बिहेवियर का भी असर पड़ सकता है। यदि वह अपना लोन चुकाने से चूक जाता है तो उसकी वजह से आपका क्रेडिट स्कोर भी ख़राब हो सकता है। इसके अलावा, यदि आप किसी के फाइनेंशियल गारंटर बने हैं तो बैंक के पास आपसे डिफ़ॉल्टेड अमाउंट वसूलने का अधिकार भी होता है। इसलिए, किसी का गारंटर बनने से पहले आपको उसके फाइनेंशियल पोजीशन के बारे में जान लेना चाहिए।

अंत में, यह जरूर याद रखें कि एक हाई क्रेडिट स्कोर, फ्यूचर में आपको लोन मिलने के चांस को ही नहीं बढ़ाता है बल्कि यह आपके लोन के कॉस्ट को भी कम करता है क्योंकि एक अच्छा क्रेडिट स्कोर आपको कम इंटरेस्ट रेट पर लोन लेने का मौका देता है। 

Personal Loan For Cibil Defaulters In Ahmedabad 9426497770 /079-40099917

Loan,credit card rejected ? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedababd INDIA www.veritastheteam.com

Personal Loan For Cibil Defaulters In Ahmedabad

How to "Dilute" Bad Credit with Good Credit to Improve Score?

Mistakes which will ruin your Credit score

Improving your credit score isn't easy. More often than not, it takes months if not years to reverse the damage. This is the reason why the majority of credit experts strongly emphasize on developing good credit habits in the first place.

If you are tired of looking for a loan with bad CIBIL score and want to improve your creditworthiness, then chances are you have already found out a variety of ways to go about it. If one of these is "diluting" your bad credit with good to make an overall improvement, then you are at the right place.

Personal Loan For Cibil cases In Ahmedabad

Is it possible to make up for bad credit with good credit?

There is no right answer to this question. This is because unlike report cards, in which you can make an overall improvement by scoring well in some of the exams to make up for the poor performance in the rest, there is no guarantee that it will happen in your free CIBIL report as well.

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An academic report card is pretty straightforward. Your overall score is affected by your performance in every single examination, as it's the average of all. However, credit reports are created differently. For starters, different credit rating agencies follow a different calculation method for the scoring and may give the highest priority to some factors over others. Some agencies are also more stringent than others and may ignore your efforts to improve your credit score with good debt.

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Now, it would be wrong to say that you can't improve your credit report with good credit at all. Positive results are often observed in long-term, so you definitely should give it a shot.

How do you go about it?

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If you want to improve your creditworthiness, the most important thing that you can do is get the bad debt removed from your credit report.

If you have defaulted on a loan in the past, then that can be the biggest factor to bring your score down. However, most banks are reluctant to have it removed because of the seriousness the act bears. That said, it's not impossible to get it removed.

You can start with becoming more careful with your credit management. For instance, you can start paying your bills on time, keep credit utilization low with your credit cards usage, etc. If you are able to develop a good reputation for credit management, then you can approach your bank and request them to remove the bad remarks from your credit report. These include late payments, loan defaults, settled accounts, etc.

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There are a few other things that you need to be careful about as well if you don't want to apply for a loan with bad CIBIL score:

1. Credit History

Your oldest bank accounts and credit card accounts are of the utmost importance when it comes to credit score calculation. So, unless you absolutely have to, you should keep these accounts open. If you have “too many” accounts, then consider closing the one that’s the most recent.

2. Minimum Payments

Don't be fooled by the convenience of the "minimum payments" offered with the credit cards. Although you can make a minimum payment (1% or 2% of the balance) every month, it can lead to debt accumulation.

You don't want your debt to increase if you want a healthy credit score. So, make it a point to always pay your credit card bills in full.

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3. Late Payments

Just like minimum payments, late payments can also have an adverse effect on your credit profile. In fact, by paying your EMIs and credit card bills on time on a consistent basis alone you can make a huge improvement in your credit score.

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The majority of credit rating agencies give the highest importance to repayment history. So, always pay your bills on time even if you have to borrow some money from your family occasionally.

To sum it up, "yes" it's possible to dilute bad credit with good credit for an overall improvement.

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તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની  જરૂરિયાત હોય, તો  મેહરબાની કરીને અમારો  સંપર્ક કરવા વિનંતી  ઘર બેઠા સર્વિસ આપવામાં આવશે

1. Gumasta ધારા (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
2. નોટરી / સોગંદનામું
3. જન્મ પ્રમાણપત્ર
4. લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર
5. પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના
6. નામ ટ્રાન્સફર વીજળી , મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી
7. પાન કાર્ડ નવા / કરેક્શન
8. gst return filing (through C A)
9. આવકવેરા રીટર્ન
10. કાનૂની દસ્તાવેજો સુધારાઓ
11. મની લોન્ડરિંગ લાયસન્સ
12. આરોગ્ય લાઇસન્સ
13. વ્યાવસાયિક કર
14. નિકાસ આયાત લાઈસન્સ
15. ડ્રાઇવિંગ લાયસન્સ, નવીકરણ, આંતરરાષ્ટ્રીય
16. મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
17. વેચાણ કરાર, વેચાણ ખત

અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો

સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.

અમે તમને ઘર બેઠા સર્વિસ પુરી આપીશુ

Office:

VERITAS THE TEAM

127,Sahajanand Park

Nr Swaminarayan Temple

Shahibaug Ahmedabad 380004

Ph: 079-40099917,9426497770

Mail :veritas.smeet@gmail.com

www.veritastheteam.com

Difference between Credit and CIBIL score Ahmedabad 9426497770 /079-40099917

Loan, credit card rejected? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedabad INDIA www.veritastheteam.com

1. Difference between Credit and CIBIL score

a. Credit score

A Credit Score is a three-digit number that sheds light on how you handle credit. In adult lives, it is normal to do financial transactions on a regular basis. And availing credit when required for various purposes is one of them. It is also like a progress report for your credit behavior. Consistently good credit conduct fetches you a higher score (out of 900) and any slip up will result in a lower score. It will be difficult for you to secure a loan of any kind, especially unsecured ones like personal loans and credit cards with a low score. In case, your application gets approved, it will be at a higher interest rate than usual.

b. CIBIL Score

People often think credit score and CIBIL score to be synonymous. However, it is not. India has 4 credit rating agencies to assess your credit score, and TransUnion CIBIL is the premier one among them. It has affiliations with almost every bank, gauging the creditworthiness of millions of individuals and enterprises. A high score from them not only denotes your excellent financial discipline but also your integrity. Every time you apply for a loan or a credit card, your recent score (last 6 months) is checked. Generally, any score above 700 is considered good, though some banks keep the bar high and some do not mind lowering the yardstick.

2. How to get your CIBIL Score

It is easy to obtain your recent CIBIL Score from the website itself. Relying on financial institutes is not a good idea as each inquiry from your side can result in a dip in your score.

Step 1: Select any of the plans below

1-month Subscription – Rs. 550

6-monthly Subscription – Rs. 800

1-year Subscription – Rs. 1200

Step 2: Type in your personal info as requested in the online form

Step 3: Enter the captcha shown in the box and accept terms and conditions, before proceeding towards the payment page

After making the payment and authenticating your account, you will be sent the credit report to your email id in 24 hours. You can also send the print-out of your duly filled application form to the company directly to receive the score by post

3. Factors that affect CIBIL Score

a. Repayment history

Past behavior is an indicator of future behavior. Every time you avail loan or credit, the lender is dutybound to report it to the CIBIL. The bank takes note of whether you repay debts on time. If you make an effort to repay in advance, it is seen as a positive sign. This shows that you can be trusted to repay the amount you owe.  

b. The drastic increase in credit

As an earning person, you may have a certain credit limit (whether it is for a loan or credit card). However, using them to the brim indicates credit hungry behavior and banks see them as red flags. If you maintain a certain credit level all months, but suddenly seen spending significantly more, it can result in a reduced score.

c. Debt to income ratio (DTI)

Generally, lenders don’t encourage people to take more debts than roughly 40% of their income. So, DTI is used to gauge a loan applicant’s ability to repay based on his/her income. It is a good metric to inculcate financial discipline as well as to ensure that you can repay your future EMIs without feeling burdened.

d. Numerous loans

Having many loans in your name will always be a matter of concern to lenders – like a home loan, a couple of personal loans, a vehicle loan and credit card(s) on top of them. It is always better to close one before availing the next. Focus on closing the smaller loans as soon as possible – it will at least reduce the number.

4. Good Score and bad Score

CIBIL Score	What it means
850 – 900	Shows that you have never defaulted even once and is an excellent score
750 – 850	It is a fact that 79% of loans sanctioned are for people with 750+ score. Scores above 800 are considered high and you can easily ask for a lower rate on personal loans and credit cards
700 – 750	A good score for secured loans. But for unsecured credit, the bank might investigate further (like social score) or impose slightly higher rates
500 – 700	This shows that you have delayed or defaulted a few times in the past. Personal loans can be difficult to obtain from a bank. A private financier may levy hefty interest
300 – 500	Such poor score indicates too many discrepancies in past loan repayments to ignore. Unless you work on credit repair or improvements, it will be impossible for you to get a loan from any bank in the country

5. Why CIBIL Score matters

CIBIL Score is like a progress card report for your financial integrity. It is an indicator that tells a lender that ‘yes, you can give the loan’ or ‘oh no, it doesn’t look like he/she will repay’.Listed below are reasons why you should always keep your CIBIL Score high.

a. For secured loan approval

There is a misconception that it is easy to avail secured finances like home loans, auto loans etc. because you providing the bank with some kind of security. However, your past credit behavior will be looked into by the lender. This is how they decide the upper limit and the interest rate. With a questionable CIBIL Score, the overall process can get difficult.

b. Quicker approval of unsecured loans

A clean chit from TransUnion CIBIL when it comes to credit score is of utmost importance when you apply for loans without any security. Like personal loans, for instance. For a borrower with high CIBIL Score (say, 750+), it is easier to get it sanctioned. If your score is above 800, you might even get a higher amount than normally given by a bank.

c. More bargaining power on interest rates

Are you aware that interest rates vary for different loans at different banks? Some people end up getting a better deal than others. A higher CIBIL Score enables you to bargain with banks for a better rate or deal. You can easily compare the offers from lenders and authoritatively negotiate as creditworthy customers are assets for any financial institution.

d. A lesser premium for insurance

Insurance is another financial instrument that rides mainly on trust and credibility, whether it is life cover, medical insurance or others. Your repayment history, claims history and general handling of debts and dues – all these are tracked carefully by the insurance companies. This helps them determine if you can enjoy a lower premium compared to others policyholders with low credit score.  

e. Chance and choice to pick the best credit card

Credit cards, if used smartly, can give you a host of benefits. Though they allow a definite zero interest period, the interest rates can shoot up drastically if you delay or miss a payment. With a better-than-good CIBIL Score, credit card companies will vie with one another to give you the best possible deal. Otherwise, you can end up with a credit card with an impossibly high-interest rate or a rejection.

6. How to Improve CIBIL Score

One bad credit score is not the end of the world. You can still salvage your score by doing the following. But mind you, it will take at least 6 months, if not more, for the ‘improvements’ to reflect in your credit report.

a. Avail your recent credit report

This will help you understand your current position and where you slipped. For instance, if it is a couple of delayed payments responsible for your low score, make sure that it doesn’t happen again. It will also help you to correct errors if any or keep a target (it has to be at least 6 months).

b. Never postpone payments

The number of procrastinators is on the rise, thanks to the dramatic advance in technology. However, CIBIL doesn’t buy this excuse and you have to pay your dues and EMIs on time. Or else, the score will fall, period. It is better to automate your payments in the initial week of payday to avoid accidental delays.

c. Have a diverse credit-folio

This will act as proof to the lender that you are adept at handling different kinds of credit. Having a blend of secured loans (house loan, car loan) and unsecured loans (personal loan, credit card) can do that. A higher leaning towards unsecured loans is not looked upon favorably.

d. Don’t have unused credit cards

It is never a good idea to keep one or more credit cards idle. If you are scared of maximizing limit, just use it for grocery shopping or fuel purchase and repay it at the beginning of next month. If you absolutely do not want to use a certain credit card, just close it.

e. Smart handling of debts

If it is seen that you are handling your debts smartly, the score can improve. For instance, we all know credit card works on revolving credit and can get unmanageable if we are not careful. In such a case, closing off the credit card dues with a personal loan is a smart move. This means you pay less interest and have the ability to solve a problem quickly.

f. No maxing out the credit

Just because your credit card allows you to borrow up to 2 lakhs doesn’t mean that you do that. Please make sure that you don’t upset the balance of debt-to-income ratio.

g. Not prolonging tenures

The vintage of the loan or credit is another factor that can impact your score. Say, if you have taken a personal loan with a tenure of 3 years, and have increased the tenure midway for a smaller EMI, it can cause your CIBIL Score to drop.

7. About TransUnion CIBIL Credit Agency

TransUnion CIBIL is a credit bureau or credit information company, incepted in 2000, the first of its kinds in India. We can logically conclude that the advent of credit cards in the country has contributed to its foundation. Based in Mumbai, it maintains data of the majority of bank and financier consumers in the country. They are known for their accuracy and transparency.

તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની  જરૂરિયાત હોય, તો  મેહરબાની કરીને અમારો  સંપર્ક કરવા વિનંતી  ઘર બેઠા સર્વિસ આપવામાં આવશે

1. Gumasta ધારા (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
2. નોટરી / સોગંદનામું
3. જન્મ પ્રમાણપત્ર
4. લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર
5. પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના
6. નામ ટ્રાન્સફર વીજળી , મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી
7. પાન કાર્ડ નવા / કરેક્શન
8. gst return filing (through C A)
9. આવકવેરા રીટર્ન
10. કાનૂની દસ્તાવેજો સુધારાઓ
11. મની લોન્ડરિંગ લાયસન્સ
12. આરોગ્ય લાઇસન્સ
13. વ્યાવસાયિક કર
14. નિકાસ આયાત લાઈસન્સ
15. ડ્રાઇવિંગ લાયસન્સ, નવીકરણ, આંતરરાષ્ટ્રીય
16. મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
17. વેચાણ કરાર, વેચાણ ખત

અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો

સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.

અમે તમને ઘર બેઠા સર્વિસ પુરી આપીશુ

Office:

VERITAS THE TEAM

127,Sahajanand Park

Nr Swaminarayan Temple

Shahibaug Ahmedabad 380004

Ph: 079-40099917,9426497770

Mail :veritas.smeet@gmail.com

www.veritastheteam.com