CIBIL Score is important to get funding from any institution. A low CIBIL Score will prevent individuals from acquiring any type of debt. This happens due to reasons such as purposefully not paying loan amount on time or due to a different legal issue, being unable to pay the loan amount on time.

SHS Advisory Group can help improve your CIBIL Score by checking all the necessary parameters in an organized manner within a time frame of 6-8 months. We at SHS Advisory Group give a detailed overview of the various methods through which one can improve their CIBIL Score. 

Reasons for Low CIBIL score:

Poor payment track record

Having a high credit utilization ratio

Submitting multiple applications for new credit simultaneously

Submitting multiple applications for new loans and credit cards with several lenders within a short time result in an increase in the number of hard enquiries

High exposure to unsecured credit

Having too much outstanding unsecured debt through credit cards and personal loans can affect your CIBIL score.

Errors in your CIBIL report such as an incorrect mention of default in repayments, errors in active loans/credit cards reported may adversely affect your CIBIL Score

Tips to improve your CIBIL score?

Pay credit card dues and loan EMIs on time

Maintain a low credit utilization ratio

Maintain a balance between secured and unsecured credit

Review and monitor your credit report frequently

Be judicious when you apply for new credit

Settle your debts only as a last resort