what is cibil score for loan

The CIBIL Score is a crucial 3-digit numeric summary of your credit history, ranging from 300 to 900. For a loan, this score is used by lenders as a primary indicator of your creditworthiness and your ability to repay borrowed funds. The closer your score is to 900, the higher your chances are of getting loan approval and potentially securing more favorable interest rates and terms. Generally, a score of 750 and above is considered excellent by most financial institutions.