what is meant by cibil score

A CIBIL score is a three-digit numeric summary of your credit history, ranging from 300 to 900. It is a specific credit score issued by the Credit Information Bureau (India) Limited (CIBIL), a credit bureau licensed by the RBI. This score is a crucial measure of your creditworthiness and demonstrates your ability to repay loans on time. A higher score, typically 750 and above, significantly improves your chances of securing loans and credit cards from lenders at favourable interest rates.