what is cibil score in bank

The CIBIL Score is a three-digit number, typically ranging from 300 to 900, that banks use as a crucial metric to assess your creditworthiness and financial health. It indicates your demonstrated ability to repay debts on time.

• Banks rely on the score as a key eligibility factor for evaluating applications for loans (like home or personal loans) and credit cards.
• A score of 750 or higher is generally considered good, which significantly increases your chances of approval and securing favorable interest rates.