No announcement yet.

How CIBIL makes your loan search easier

  • Filter
  • Time
  • Show
Clear All
new posts

  • How CIBIL makes your loan search easier

    Typically when we need a loan or a credit card, we approach at least 2-3 banks or financial institutions to find out interest rates and the other charges (such as processing charges). We then get all our documents in place and submit them to these lenders along with the loan application. Lenders now begin the 'Loan evaluation' process by first referring your CIBIL Score and Report while assessing your application. Based on their lending criteria, which varies from lender to lender, your loan may or not be approved.

    But this is a time consuming process and depending on the loan type it can take months! In order to address this, we have launched 'Personalized Loan Offers' which aims at making your loan and credit card search easy by extending deals offered by lenders based on your credit eligibility. Here, in a single view you can compare interest rates and other features being offered by a host of lenders at once. So how does it work?
    • Get your CIBIL Score and Report and automatically get access to Personalized Loan Offers for 3 months at no additional cost!
    • Choose from the multiple offers (on Loans and Credit Cards) which are customized keeping your credit profile in mind.
    • On selecting an offer from a lender, they will contact you to complete the formalities.

    So in essence, you can not only view at one place what participating bank/financial institution have to offer but also see offers that are tailored based on your CIBIL Score and Report. Your CIBIL Score plays a critical role in the loan approval process. Lenders check your CIBIL Score before approving your loan application. Higher your CIBIL Score, higher are the chances of your loan application getting approved.