HOW TO EFFECT HOMELOANS LOW CIBIL SCORE CUSTOMERS IN BANGALORE read more: http://bkhataloansinbangalore.blogspot.in/2016/03/how-to-effect-homeloans-low-cibil-score.html

1. HOW TO EFFECT HOMELOANS -LOW CIBIL
SCORE CUSTOMERS- IN BANGALORE

2. The Credit Information Bureau (India) Ltd, better
known as CIBIL, is the premier agency for providing
credit reports and scores pertaining to individuals.
CIBIL sources financial data of individuals such as loan
and credit card information from leading banks and
other financial institutions in India. This data is then
presented in the form of a CIBIL credit report, also
known as a Credit Information Report (CIR).
CIBIL was incorporated in 2000 and has continued to
expand its presence throughout the country. It is
backed by Trans Union International and Dun and
Bradstreet, which are major global credit bureaus and
agencies.

3. CIBIL credit score or credit rating is, in short, a 3-digit
figure ranging from 300 to 900 points which denotes a
person’s credit worthiness. This figure is derived from
the CIBIL report of an individual through advanced
statistical algorithms that take into account their
credit history including borrowings, repayment
patterns, defaults in repayment and other data
relevant to a person’s credit worthiness.
CIBIL scores are calculated on the basis of at least 6
months of historical financial data of an individual.
The data is fed into an algorithm with 258 different
variables; each with a different weight age.

4. Analyzing your CIBIL score :
-1: This implies that the borrower has no previous history
of borrowings with any bank or other financial institutions
in the country i.e. no credit history.
 300-600: Individuals with CIBIL credit scores in this slab
are considered to be a credit risk by banks and other
financial institutions. In general, credit cards and loans will
not be provided to people in this slab.
 601-750: This is the intermediate range of scores and will
allow you to borrow from various lenders. However, banks
may refer to your overall financial position and consider
other risk related criteria to ascertain your creditworthiness
e.g. stable employment, different sources of income, loan
security etc.
 750+: Scores above 750 are considered to be good and will
help you in getting loan or a credit card with ease. If your
credit score is high, you can leverage this to negotiate with
lenders for better/lower interest rates.

5.  Why should you get your credit information
report?
It helps in analyzing your true financial standing and
make plans for future finances.
You can be on top of your borrowings and avoid debt
traps.
 With a CIBIL score in hand, you are in a great position
to make decisions regarding availing new forms of
credit, while also being able to extract the best possible
rates from banks or other lenders.
 It helps in cultivating financial discipline.

6. Things that positively affect your credit score :
 Regular payment of credit card bills.
 Paying credit card bills in full rather than paying
minimum due amount every time.
 Avoiding over-leveraging.
 Maintaining strong financial records.
 Too many forms of credit (such as unsecured personal
loans) among family members. Proper utilization of
approved credit limit.
 Ensuring banks and other financial institutions you’re
dealing with record and Requesting and maintaining a
copy personally rather than through financial
institutions.

7. Read More:
For loans:
www.bkhataloans.com
www.panchayatkhataloans.com
For construction:
www.citadil construction.com