CIBIL Score Tips: If your CIBIL score is also bad then don’t worry, fix it like this, it will get high quickly…

CIBIL Score is a measure of your ability to get credit. Any child needs good marks for admission to a good college, similarly to taking a loan from the bank, you need a good CIBIL Score.

If you take a loan from a bank and do not repay it on time, not only do you get the bad name of a bad bank loan or the name of a bank defaulter, but your CIBIL score also gets spoiled.

Reason for bad CIBIL score
If you take a loan from a bank and do not return the installment on time, it can spoil your CIBIL score.
The easiest example of this is that you took a loan before the lockdown and later were not able to repay it due to the lockdown. But, even after repaying your loan with interest, your CIBIL score will remain bad for at least 2 years.

CIBIL score will also get damaged if the credit card bill is not paid on time.

Apart from this, if you do not maintain a minimum balance in your bank account, your CIBIL score also gets spoiled.

Way to improve CIBIL Score
To improve CIBIL Score, if you take any kind of loan, you must repay it on time. Paying off the debt on time brings positivity. Any delay in returning the money can spoil your CIBIL Score.
Along with this, if you have taken any kind of credit card, then repay its amount on time. Any delay affects your CIBIL Score.

Along with this, after full payment of your loan, do not forget to take its NOC (No Objection Certificate) from the bank. Not taking NOC also has a very bad effect on the CIBIL Score. While applying for the loan, do not forget to complete all the documentation of the bank. All these things improve your CIBIL score.