Is credit score important in India?

Yes, a credit score is highly important in India as it serves as a primary indicator of your creditworthiness. Ranging from 300 to 900, a higher score, typically 750 or above, significantly increases your chances of quick loan approvals and better credit card offers. Lenders use this score to assess the risk of lending money and to determine applicable interest rates. Maintaining a good score through timely repayments ensures access to premium financial products, higher credit limits, and more favorable borrowing terms.