CIBIL’s products, especially the CIBIL TransUnion Score and the CIR are very important in the loan approval process.
The credit score helps loan providers quickly determine, who they would like to evaluate further to provide credit. The CIBIL TransUnion Score ranges from 300 to 900. Our data indicates that loan providers prefer a credit scores which are greater than 700.
The credit score helps loan providers quickly determine, who they would like to evaluate further to provide credit. The CIBIL TransUnion Score ranges from 300 to 900. Our data indicates that loan providers prefer a credit scores which are greater than 700.
Once the loan provider has decided which set of loan applicants to evaluate, it analyzes the CIR in order to determine the applicants eligibility. Eligibility basically means the applicants ability to take additional debt and repay additional outflows given their current commitments.
Post completion of these first 2 steps the loan provider will request for the applicants income proof and other relevant documents in order to finally sanction the loan.
