CIBIL Score: What is the CIBIL score required to get the cheapest loan, know this important thing before going to the bank..

Everyone dreams of buying their own house, but the rising property prices have become a challenge. In such a situation, home loan is a great support. If you are also thinking of taking a home loan, then the most important thing is your CIBIL score. Only a good CIBIL score will help you get a loan easily and on better terms. Therefore, it is very important to keep your CIBIL score better.

A good CIBIL score can make your home loan cheaper. Today we will tell you what should be the CIBIL score to get a cheaper home loan (home loan news).

Let us tell you that the CIBIL score is like a kind of report, that shows a person's financial history. It also shows his credit history. A good CIBIL score shows that you are capable of repaying the loan. In such a situation, having a good CIBIL score can help you get a home loan at a cheaper interest rate.

How much CIBIL score is good?

CIBIL score ranges from 300 to 900. If your CIBIL score is between 300 to 550, then your CIBIL score is bad. On the other hand, if your CIBIL score is between 550 to 650, then your CIBIL score is average. Apart from this, a CIBIL score between 650 to 750 is considered good. Also, a CIBIL score between 750 to 900 is the best.

CIBIL score for a cheap home loan?

If you want to take a cheap home loan, then your CIBIL score should be between 650 to 750. Apart from this, a higher CIBIL score can also reduce the interest rate of your loan. Also, if your CIBIL score is very low, then you will get a loan from the bank at a higher interest rate.

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