With the pandemic outbreak, life has come to a standstill. The impact has been so adverse that not only many people lost their lives, the economy also had to face a huge blow. And with the lockdown, people had no option but to stay indoors and lead their life. It has not only hurt them professionally but also financially. Managing the finances became quite difficult in most households. As a result, many people chose to make wise financial decisions so that they can get through this phase. One of them is checking the CIBIL Score on frequent intervals. As we know, CIBIL Score determines the borrower’s creditworthiness. It also gives the lender an idea about the repayment capacity of the borrower. Thus, CIBIL Score is one of the important factors to be taken into consideration, while availing the loan. Here, we give you reasons why you must check your CIBIL Score regularly during the pandemic outbreak.
To Get Best Personal Loan Deals And Offers
As CIBIL score serves as an important deciding factor to avail the loan, keeping a check is as necessary. Keeping a track of your CIBIL Score will help you know what actions to take further. For example: if the CIBIL Score is low, then you must pay all your outstanding dues or credit card bills so as to improve it. If your CIBIL Score is high, then you must maintain it within that range by paying your EMIs on time. Also, you must not make multiple hard inquiries as it can negatively impact your Credit score. Thus, if you have CIBIL Score typically above 750, then you have a very high chance of getting a Personal Loan of your choice. That is, you can avail of higher loan amount at a very low interest rate. In addition, you can also get pre-approved offers at attractive interest rate. You can also get flexible repayment tenure with the option of saving on EMIs. Moreover, you can enjoy amazing offers and deals which can make your lending experience awesome.
Make better financial decisions
Checking your CIBIL Score during the pandemic will help you make better financial decisions. This pandemic is indeed a tough time, and has severely affected the finances of people. Keeping a check on your credit score enables you to plan your finances accordingly. Like, you can set aside some amount for the EMI that needs to be paid. The extra amount can be used to pay other bills. This will also help you chalk out a plan for fixing your monthly budget. If your planning is in place, your payments will also fall in place accordingly. Timely payments are sure to have a good effect on your CIBIL Score.
So, if you wish to check your CIBIL Score in these tough times or anytime, you can always visit Finserv MARKETS. On Finserv MARKETS, you can always check your CIBIL Score for free. Apart from checking your CIBIL Score online, you can download the Financial Health Check Report(FHCR). The report gives you a detailed view of your financial performance along with the detailed insights on previous repayments. This will help you make wiser decision in future and help you lead a stable life.
As they say, learning should never stop. Same applies here. With the help of FHCR, you can analyze your repayment history, what kind of errors you have made and how you can improve on it. These learnings will surely enhance your CIBIL Score. With this healthy CIBIL Score, you can apply for a Bajaj Finserv Personal Loan on Finserv MARKETS as well.
Krishna Murthy is the senior publisher at Finance XOD. He is not only the senior publisher but also the owner of Tricky Finance. Krishna Murthy was one of the brilliant students during his college days. He completed his education in MBA (Master of Business Administration), and he is currently managing the all workload for sharing the best banking information over the internet. The main purpose of starting Tricky Finance is to provide all the precious information related to businesses and the banks to his readers.