car-loan-credit-score-india

Credit Bureaus Aid Unsecured Lending to High Credit Score Consumers

by

Unsecured Loans Growth IndiaThe transformation of the Indian financial sector began with consumer credit profiling by credit information company such as CIBIL and later permitting Equifax and Experian to compete in the world’s largest democracy. In the last 5 years, Credit bureaus have been a game changer for the personal / business loan and credit card segments.

Unsecured products (personal /business loans, credit cards ) are seeing continued momentum in growth. However, this difference between current and previous

Read moreCredit Bureaus Aid Unsecured Lending to High Credit Score Consumers

What According to CIBIL is Credit Hungry Behavior of a Consumer ?

by

What According to CIBIL is the meaning of “Credit Hungry Consumers” ?
India’s leading credit bureau, CIBIL which manages your credit history and credit score along with global leader Transunion has devised a word – Credit Hungry Behavior for Consumers who makes frequent loan applications [Personal Loan, Auto Loan, Credit Card, etc], as there will be a Credit Inquiry every time an application is made. This sends a negative signal for money lending institutions about the consumer credit profile. In such a case institutions who have already extended loan are likely to raise Interest Rates, Fees or EMI so as to secure their own funds.

To Explain the same, have a look at the following,

Read moreWhat According to CIBIL is Credit Hungry Behavior of a Consumer ?

Want Car Loan ? Have Good Credit Score – Bankers Relying on CIBIL Report

by

Car Loans - CIBIL Inquiry IndiaAuto Loans in India are on rise in the past 3 years and the demand is especially coming from smaller cities. After the 2008 Crisis, Banks have tightened their lending norms towards unsecured loans – Credit Cards & Personal Loans and even for Auto Loans they are increasingly relying on Credit Reports ans Scores from all the Three bureaus – CIBIL-Transunion, Experian and Equifax.

Approximately 20% of the inquiries in the last few years have been for new Auto Loans at CIBIL. Delhi NCR alone contributes 35% of the Inquiries in

Read moreWant Car Loan ? Have Good Credit Score – Bankers Relying on CIBIL Report