Often one falls on loans to meet a wide range of requirements or say desires. While a sudden medical emergency may need some thousands to get over, a wedding would require lakhs to give a memorable feel to the people involved. Similarly, you may have ambitions of buying a home that would cost big. And when you check the balance in your account, you won’t find much to fulfill any of those. At that time, it’s only a loan that comes to your help. But the irony is that loans go through a rigorous approval test conducted by CIBIL, India’s largest credit information company that provides scores and generate credit reports of individuals. If you pass the test of CIBIL, all good, the loans will get approved. Otherwise, you may have to wait till the time your CIBIL score and report improves. Now as you get a brief idea of the massive relevance that the CIBIL Report holds for a credit approval, it is only better to be fully aware of the same. So, come, read and prepare to pass the test. Nitty Gritty About CIBIL Report Unfolds Now So when the banks send a list of dossiers to CIBIL, the latter goes all out to prepare a credit report based on its findings. Banks what they do is to notify CIBIL regarding one’s repayment track through the documents or proofs they send on a monthly basis. CIBIL then wears the hat of a credit evaluator by keeping your repayment track under its microscope and try to explore different layers of your credit behaviour. It keeps all the layers to form a matrix which eventually becomes the base of the credit report. The layers, as we speak of, could be anything from timely repayment to late or even default. The scope of layers can be expanded to include the number and types of debts you are under. CIBIL prepares a report and sends it to the applicants within a month of the request to the registered residence address. The report which your receive would contain everything about one’s credit behaviour and suggest necessary measures to improve the score if it is below the comfort zone of 750. Anything above the said level can enable a smooth approval for loan or credit card. Normally, CIBIL Score ranges from 300-900. Find an Answer to My CIBIL Score Now You can check your CIBIL Score online by visiting the website of the credit information provider. All you need is to furnish your personal and credit-related information before coming to a point wherein you need to create the credentials to check your credit score. Yes, you need to create a login by choosing a User ID and password, which must have required number of characters, numericals and alphabets. Once the login is created, you can use the credentials to check your CIBIL score. If the score is on the higher side, a loan would come next to your door. Else, you would have to wait for it to reach the level where you can gain the trust of the banks who would have no hesitations in lending you. How Can You Improve Your CIBIL Score? Before making efforts to improve your CIBIL score, you better be aware of the reasons that led to a poor score. If the reason is a default, you should look to tide over by paying the loan EMIs or card bills on time. Many borrowers fail to get a good credit score in the wake of debt settlement that they avail to curtail the burden of debt. Debt settlement does help a borrower cut down the debt by reaching an agreement with the bank. But the downside is a poor credit score that results from the move, making loan approval a tedious process. In that case, a secured loan can be granted against the securities or collateral you submit to the lender. These can be a life insurance policy, national savings certificate, bank fixed deposit, etc. So folks, how did you feel reading the article that’s dedicated to CIBIL Report and the stuff revolves around the same? Hope you take a cue from this to get your credit score up all the time.