does cibil score affect education loan

Yes, the CIBIL score significantly affects your education loan. Lenders assess it to determine your creditworthiness and ability to repay. A score of 750 or above typically increases the likelihood of quick approval, lower interest rates, and a higher loan amount. If the student is a first-time borrower with no credit history, the score of the parent or co-applicant becomes the primary factor checked by the bank. Most institutions prefer a score of 700 and above for education loans.