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Understanding a Credit Report.

Descriptor: Your credit report includes information on all loans taken by you, and the status of their repayment.

Your Credit Report will include:

The Credit Score

Personal Information

Contact Information

Employment Details

Details of all the previous loans.

  • What is the impact of a CIBIL Score when applying for a loan?

Descriptor: Your CIBIL score determines your creditworthiness and helps the bank decide if you qualify for a loan or not.

Impact of your CIBIL Score when applying for a loan

Checked by the bank offering the loan

Indicates your ability to repay the loan

Poor CIBIL Score can result in loan-rejection

High CIBIL Score improves chances of loan-approval. 

  • How do I Improve my CIBIL Score?

Descriptor: There are ways to improve your credit score, like repaying your loans on time.

Best Ways to Improve Your CIBIL Score

Actively use a Credit Card

Repay all your loans on time

Don’t use the complete limit on your Credit Card

Pay your Credit Card bills on time

Seek to increase your credit limit

Apply for different types of loans

Regularly check your credit report for errors

Monitor your credit history and credit score.


Descriptor: Some of the factors that impact the interest rate on your loan, are the loan size, tenure, collateral, credit score, and type of employment, etc.

Factors that impact the interest rate on your loan:


Higher Interest Rate 

Lower Interest Rate

Loan Size

Smaller amount of loan

Larger amount of loan

Loan Tenure

Shorter tenure

Longer tenure


No collateral

With collateral

Credit Score 

Poor credit score

Good credit score

Credit History



Type of Employment

Self-employed, freelancers or hourly paid employees

Long-term employment with consistent salary slips


No co-borrowers

Creditworthy co-borrowers

Property Type



Down-Payment by You

Smaller down-payment made by you

Larger down-payment made by you

Types of Interest rates (Fixed and Floating) & Comparison

Descriptor: A fixed interest rate remains the same through the tenure of the loan, while

a floating interest rate can fluctuate.

Fixed vs Floating Interest Rates

Fixed Interest Rate

Floating Interest Rate

Interest rate remains the same.

Interest rate fluctuates.

No impact of market fluctuations on the interest rate.

The interest rate changes, as per market conditions.

EMIs remain the same.

Payment may vary, every month.

Advantage of certainty and can plan the budget in advance.

A good chance that interest is lower than with a fixed interest rate.

Usually comes with a prepayment penalty. 

Usually doesn’t have a prepayment penalty.