CIBIL Score And Personal Loan For Individuals
What is CIBIL Score? CIBIL SCORE is an often heard word at all levels of people from individual to corporate. This terminology is used by banks and other lenders of a loan, be it a Personal Loan or Business Loan or Property Loan. Therefore, it is important to learn and understand the basics of CIBIL. CIBIL is an organization, named, Credit Information Bureau (India) Limited collects and maintains records of an individual’s payments pertaining to loans and credit cards. Based on this credit history, a CIBIL Score is generated. Higher the score, stronger is your credit profile. Financial constraint is a very common situation in anybody’s life or in any organization at some point in time. To tide over such a situation, people go for the loan from banks and other financial institutions depending upon the quantum of loan, interest rate and type of loan. What is Personal Loan? Personal Loan is a loan sought by an individual, a salaried person or a self-employed person or person ha