CIBIL LOAN FAQ AHMEDABAD 9426497770 /079-40099917

Loan,credit card rejected ? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedababd INDIA www.veritastheteam.com

                         CIBIL LOAN FAQ 

1. My loan has been rejected because of the defaults reported against my name in CIBIL records. How do I remove my name from the CIBIL's defaulters list?

CIBIL doesn’t maintain a defaulters list. We maintain the credit history of individuals as reported by Member Credit Institutions. The decision to grant a loan is solely dependent on the credit policy of the Credit Institution. In order to check your credit history in detail and to identify any possible discrepancies/errors that might be reflecting against your name, you can purchase your CIBIL Score and Report.

2. What kind of inaccuracies can reflect on my CIBIL report?

• Ownership
  If either some of the personal details or one or more accounts / enquiries on your CIR do not belong to you.
• Incorrect personal details
  Credit Institutions submit details of your credit account along with your personal / contact / employment information such as name, address, date of birth, PAN, telephone number, income etc. CIBIL then creates your complete credit profile basis for these details. Hence, it is important to update your Credit Institution every time there is a change in the information as incorrect details may lead to a wrong CIR being generated.
• Inaccurate account details
  Credit Institutions generally submit data to CIBIL within a span of 30-45 days and if you happen to purchase your CIBIL Report- within 45 days of your last payment of dues, it may not be updated. This leads to the reflection of inaccurate current balance or amount overdue in your CIBIL Report. However, if the ‘Date Reported’ (date on which data is submitted by that lender) associated with that account is older than 2 months, and the payment made is still not reflecting then you can raise a dispute. (click here to view how to raise a dispute).

3. I have Closed / Paid off the accounts and they are still showing on my report. How do I update my CIBIL report?

As per the Credit Information Companies (Regulation) Act of 2005, CIBIL cannot modify any information in the database without confirmation from the relevant Credit Institution. Credit Institutions submit data every 30-45 days to CIBIL and if you happen to purchase your CIBIL Score and Report within 45 days of closure/pay-off of your accounts it may not be updated in CIBIL records. to check the updated status of your account.

4. Can CIBIL make correction to the data or update / delete any information in the CIBIL Report?

CIBIL cannot make any change directly to your CIBILReport. Only once the change is authorized and provided by the concerned Credit Institution can your CIBIL Report be updated.

5. I notice a mistake in my report. How do I raise a dispute? How much time will it take to resolve the dispute?

To initiate a dispute with us, just follow the below mentioned online dispute process:

Please Note –You can dispute multiple fields and information on your report in a single dispute by navigating to each section on the Online Dispute Form (i.e. Personal, Contact, Employment, Account Details, and Enquiry).

Received your report from the lender:

Alternatively, you can raise a Dispute Request by writing to us at the following address: TransUnion CIBIL Limited, One Indiabulls Centre, Tower 2A, 19th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013

Once the dispute is submitted, CIBIL will also mark the relevant field/account/section on your credit report as “Under Dispute”.

It may take approximately 30 days to resolve a dispute, subject to the time taken by the Credit Institution to respond.

6.My report is incomplete. Can CIBIL add information to my report?

CIBIL cannot add any information directly to your CIBIL Report. The information available on your CIBIL Report is as reported to us by Credit Institutions (CIs). The onus lies with the CIs to report the complete and accurate data to CIBIL. CIBIL’s responsibility lies in accurately updating and accumulating this information across CI’s. Please contact your credit institution to report the missing information to CIBIL.

7. I am unable to submit a dispute without entering the branch details? What can I do?

Certain banks cannot resolve your dispute unless they have the branch where you have obtained the loan from. Hence, we have automated the process of collecting the branch details from you at the time of initiating the dispute. Providing the branch details will enable the bank route your dispute to the correct branch which will help to expedite the dispute process. In case you do not have the branch details, you will need to contact the respective credit institution.

8. Why can’t I raise more than one dispute type on a particular account/inquiry?

You can either dispute ownership or the fields of an account/enquiry.

If you have disputed the ownership (Account does not belong to you) then disputing other fields is not relevant.

If you are disputing the field for a particular account/inquiry which belongs to you, disputing ownership is not applicable.

9. What does CIBIL do once I have raised a dispute?

Once you have submitted the dispute, CIBIL will verify the dispute internally and route it to the concerned credit institution. Once the CI responds to the dispute request, CIBIL will update the changes instantly (if applicable), and communicate the status to you via email.

10. How will I know the status of my dispute?

You will receive an automated email notification regarding the status of your dispute every 7 days.

11. I had raised a dispute for correcting information on my CIBIL report but I have received a notification that I need to contact my credit institution, Why?

CIBIL cannot make a change to your CIBIL Report until authorized by the Credit Institution. This could either mean that CIBIL cannot update the information basis data provided by the credit institution or the credit institution has rejected your dispute. You will need to contact the concerned Credit Institution (CI) directly for further information or you can initiate a dispute request again and we will re-verify it with the relevant CI.

12. Why doesn’t CIBIL verify information with consumer before updating the report?

The information available on your CIBIL Report is as reported to CIBIL by Credit Institutions (CIs). The onus lies with the CIs to report the facts accurately to CIBIL. CIBIL’s responsibility lies in accurately updating and accumulating this information across CI’s. In case you find any data inaccuracy in your CIBIL Report you can initiate a dispute resolution process with us and we will get the inaccuracies verified with the concerned CI. Any changes have to be authorized by the concerned CI for it to be updated in CIBIL records to reflect in your CIBIL Report.

13.What if I’m not satisfied with the results of dispute?

You can choose to contact the concerned Credit Institution (CI) directly. Alternatively, you can initiate a dispute request again and we will re-verify it with the relevant CI. Please note, we cannot make any changes to your CIBIL Report without the confirmation of the respective CI.

14. I see the message that certain information on the report is under dispute? What does this mean?

An alert (as highlighted in the below image) indicates that the information in certain sections of your CIBIL Report is disputed. The alert notification will be removed only once the dispute is resolved.

15. What action will CIBIL take if the CI does not resolve the dispute within 30 days?

CIBIL cannot modify any information in the database without confirmation from the relevant Credit Institution. We have an automated process where a daily reminder will be sent to the bank / CI until the dispute is resolved.

16. How much time does CIBIL take to update information once the bank has responded to the dispute?

Once we get the corrected data from the Credit Institutions (CI), we update our records instantly.

17. My account has not been updated for more than 2 months. What should I do?

There could be 2 reasons why your account has not been updated:

• Credit Institution has not submitted your recent data to CIBIL
• There is an ongoing dispute on your account

You can contact your credit institution directly and request them to take appropriate action.

18. I have approached the CI to update my account details, however, I have not received any update?

If you have approached the credit institution directly to update your account in CIBIL records, the onus lies with the CI to send you an update. You can contact your credit institution to know the updated status of your account. Alternatively, you can to know the updated status of your account.

अगर ठीक करेंगे अपना सिबिल स्कोर, तो लोन से जुड़ी समस्याओं का होगा हल Ahmedabad 9426497770 / 079-40099917

Loan, credit card rejected? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedababd INDIA www.veritastheteam.com

अगर ठीक करेंगे अपना सिबिल स्कोर, तो लोन से जुड़ी समस्याओं का होगा हल

हम हमेशा सुनते हैं कि क्रेडिट स्कोर खराब होने पर बैंक या फिर कोई भी वित्तीय कंपनी ऋण नहीं देती है। खराब क्रेडिट स्कोर के चलते क्रेडिट कार्ड भी नहीं बनता है। लोन किसी इंसान की क्रेडिट काबिलियत के आधार पर मिलता है। क्रेडिट इनफॉर्मेशन ब्यूरो इंडिया लिमिटेड (सिबिल) आपको 300 से 900 अंकों के बीच एक स्कोर प्रदान करता है। ये इस आधार पर तय होता है कि आपका पहले का क्रेडिट कार्ड उपयोग कितना है, आप अपना बैंक खाता कैसे रखते हैं, कोई चेक तो बाउंस नहीं हुआ है, मौजूदा लोन, बिना इंश्योरेंस के मौजूदा लोन, लोन के रीपेमेंट और आपने कितनी बार लोन या क्रेडिट कार्ड के लिए आवेदन दिया है। जिन लोगों को सिबिल स्कोर 700 से ज्यादा होता है उन्हें लोन आसानी से मिल जाता है। इसलिए जरूरी है कि आप अपना स्कोर सुधारा लें।

क्या होता है क्रेडिट स्कोर ?

क्रेडिट स्कोर को आम बोलचाल की भाषा में सिबिल स्कोर भी कहा जाता है। भारत में इसे क्रेडिट इंफोर्मेशन ब्यूरो ऑफ इंडिया (सिबिल) ने सबसे पहले इसे जारी करना शुरू किया था। शुरुआत में इसको लेने के लिए पैसे खर्च करने पड़ते थे। लेकिन यह अब आपको हर महीने फ्री मिलता है। अब देश में चार कंपनियां हैं जो कि क्रेडिट स्कोर मुहैया कराती है। ये कंपनियां हैं क्रिफ हाई मार्क क्रेडिट सर्विस, इक्वीफैक्स क्रेडिट सर्विस, एक्सपेरियन क्रेडिट सर्विस और ट्रांस यूनियन सिबिल लिमिटेड। आप इन चारों कंपनियों से हर महीने फ्री में प्राप्त कर सकते हैं।

ऐसे जान सकते हैं अपना क्रेडिट स्कोर

आप अपना क्रेडिट स्कोर आसानी से जान सकते हैं। सिबिल की वेबसाइट पर आप आसानी से क्रेडिट स्कोर पता कर सकते हैं। इसके लिए www.cibil.com पर जाना होगा और ऑनलाइन फॉर्म भरना होगा। साथ ही आपको 550 रुपये का भुगतान भी करना होगा। एक बार ऑथेंटिकेशन प्रोसेस होने के बाद आप सिबिल स्कोर और रिपोर्ट डाउनलोड कर सकते हैं। 

ऐसे तय होती है स्कोर के हिसाब से ब्याज दर

क्रेडिट इंफोर्मेशन ब्यूरो ऑफ इंडिया (सिबिल) द्वारा दिए गए स्कोर के हिसाब से लोन की ईएमआई तय होगी। मान लीजिए आपने किसी बैंक में होम लोन के लिए अप्लाई किया हुआ है और बैंक की ब्याज दर 8.35 फीसदी है तो अगर आपका स्कोर 760 प्वाइंट्स से ऊपर है तो 8.35 फीसदी की ब्याज दर पर आपको होम लोन मिलेगा। 

725 से 759 प्वाइंट्स होने पर 8.85 फीसदी और 724 से नीचे के प्वाइंट्स पर 9.35 फीसदी ब्याज दर के हिसाब से लोन देना होगा। अगर आप पहली बार लोन के लिए अप्लाई कर रहे हैं या किसी प्रकार का कोई क्रेडिट स्कोर नहीं है, तो बैंक आपसे 8.85 फीसदी की दर से ब्याज चार्ज करेगा।  

इन पर निर्भर करता है सिबिल स्कोर

• 30 फीसदी सिबिल स्कोर इस बात पर निर्भर करता है कि आप वक्त पर कर्ज चुका रहे हैं या नहीं।
• 25 फीसदी सिक्योर्ड या अनसिक्योर्ड लोन पर निर्भर करता है।
• 25 फीसदी क्रेडिट एक्सपोजर पर निर्भर करता है।
• 20 फीसदी कर्ज के इस्तेमाल पर निर्भर करता है।

તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની  જરૂરિયાત હોય, તો  મેહરબાની કરીને અમારો  સંપર્ક કરવા વિનંતી  ઘર બેઠા સર્વિસ આપવામાં આવશે

• Gumasta Dhara (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
•  સોગંદનામું / Affidavit 
• જન્મ પ્રમાણપત્ર/ birth certificate
• લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર/ marriage registration
• પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના passport new renewal correction fir 
• નામ ટ્રાન્સફર વીજળી, મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી, property card
• Land revenue records and updation, pedigree  
• પાન કાર્ડ નવા / કરેક્શન
• GST return filing (through C.A.)
• આવકવેરા રીટર્ન/ Income tax return
• કાનૂની દસ્તાવેજો સુધારાઓ / correction of any government documents 
• મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
• વેચાણ કરાર, વેચાણ ખત sale deed, and other documents 

અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો

સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.

અમે તમને ઘર બેઠા સર્વિસ પુરી આપીશુ

Office:

VERITAS THE TEAM

127, Sahajanand Park

Nr Swaminarayan Temple

Shahibaug Ahmedabad 380004

Ph: 079-40099917,9426497770

Mail: veritas.smeet@gmail.com

www.veritastheteam.com

Factors that do not impact your CIBIL Score Ahmedabad 9426497770 / 079-40099917

Loan, credit card rejected? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedabad INDIA www.veritastheteam.com

Factors that do not impact your CIBIL Score

Many times, we get worried that a chance delay in any of our obligatory payments such as tax or utility bill payments may get reported as a CIBIL default and impact our score adversely. However, many of these events are not reported to Credit Bureaus and hence, do not impact your CIBIL Score. Few factors that do not impact your Score are:

• Payment track record of utility bill payments including mobile and electricity
• Prepayment of loans or transferring your loan to another bank
• Payment track record of rent payments
• Cheque Bounces in your bank account
• Your Spouse’s CIBIL Score
• Checking your CIBIL Score regularly
• Any delay or defaults in tax payments
• Delay or default in paying to your suppliers or trade partners

While you may breathe easy that the above events are not going to affect your adversely, one word of caution : many of these factors may still be evaluated by the bank while taking a decision to lend. So, indirectly they may impact your eligibility to get a loan. Our advice is to follow a healthy and disciplined practice towards paying all your dues in time as:

• Many banks and NBFCs check your bank statements for cheque bounce information or your utility bills payment track-record to evaluate your credit-worthiness. This is especially true in the case of unsecured business loans or SME loans.
• Similarly, the banks may also check your spouse’s CIBIL score to establish the creditworthiness and calculate the eligibility of the household as a unit or in cases where you have filed a joint a loan application or are business partners.
• In the recent past, there have been increasing consensus on including utility bill payments records as a part of CIBIL score calculations. This is a popular practice in many developed countries and there is a likelihood of it getting implemented in India as well.

Why do I have a poor CIBIL Score?

It is extremely important to consider any early warning signs and take corrective actions to improve your score. Typically, poor CIBIL rating reflects the past credit repayment track record of the borrower. But sometimes, it may be a result of reporting errors by banks.

Below is a list of parameters that can adversely impact your CIBIL score:

Low CIBIL score due to wrong reporting by banks

Though CIBIL Score is ought to reflect the credit behavior of a borrower, sometimes wrong reporting by banks may translate into a low CIBIL Score. Some of the common errors by banks that can impact your score are:

• Wrong credit info provided by banks
• Record not updated even after the customer has paid
• Lenders classifying a/c as “settled with loss” while actually the dues were disputed
• Lenders showing amount as “overdue” even when the demand is contested by the customer

Low score due to past behavior of the borrower

Credit behavior and repayment track record of the borrower are some of the factors that result in a low CIBIL score. Some of the common credit behavior factors that result in a low CIBIL score of borrowers are:

• Write-offs reported, particularly in last 2-3 years on secured loans, unsecured loans, and credit cards
• Outstanding credit card dues
• Delay in payment of EMI’s on the home loan, loan against property, personal loan, consumer loan, gold loan or any other loan
• Too many loans already availed
• High credit availed on credit cards
• Too many loan applications made in the recent past
• The higher proportion of unsecured loans in total loans outstanding

તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની  જરૂરિયાત હોય, તો  મેહરબાની કરીને અમારો  સંપર્ક કરવા વિનંતી  ઘર બેઠા સર્વિસ આપવામાં આવશે

• Gumasta Dhara (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
•  સોગંદનામું / Affidavit 
• જન્મ પ્રમાણપત્ર/ birth certificate
• લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર/ marriage registration
• પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના passport new renewal correction fir 
• નામ ટ્રાન્સફર વીજળી, મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી, property card
• Land revenue records and updation, pedigree  
• પાન કાર્ડ નવા / કરેક્શન
• GST return filing (through C.A.)
• આવકવેરા રીટર્ન/ Income tax return
• કાનૂની દસ્તાવેજો સુધારાઓ / correction of any government documents 
• મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
• વેચાણ કરાર, વેચાણ ખત sale deed, and other documents 

અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો

સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.

અમે તમને ઘર બેઠા સર્વિસ પુરી આપીશુ

Office:

VERITAS THE TEAM

127,Sahajanand Park

Nr Swaminarayan Temple

Shahibaug Ahmedabad 380004

Ph: 079-40099917,9426497770

Mail :veritas.smeet@gmail.com

www.veritastheteam.com

What is the minimum CIBIL™ score to get a personal loan? Ahmedabad 9426497770 / 079/40099917

Loan, credit card rejected? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedabad INDIA www.veritastheteam.com

What is the minimum CIBIL™ score to get a personal loan?

It is generally advisable to have a credit/CIBIL™ score of 750 or above to qualify for a personal loan Your credit score is a three-digit number between 300 and 900 that gives potential lenders a quick idea of your credit health. The higher your score, the better are your chances of being approved.

CIBIL™ is one of the four authorized credit bureaus in India which provide a credit score, the others being Equifax, Experian and CRIF High Mark.

As a first step, lenders typically look for a minimum credit/CIBIL™ score of 750 before deciding whether to go ahead with processing your application.

What is the role of my credit score in the loan process?

CIBIL™ collects and maintains records all your credit-related activity with banks, credit card companies and other formal lenders. It gets reports on a monthly basis from these lenders on all your transactions. This includes information on your EMI and credit card payments (including any late or missed payments), balance outstanding, any change to your total credit limit, and all other details relevant to your credit profile.

Based on this data, a complex mathematical formula is used to calculate your credit score. The score is a reflection of your credit behavior and gives potential lenders a snapshot of your credit-worthiness. If you have a good track record of making all your payments in time and in full, your score will tend to be high. If you have a history of defaulting on payments or using excessive credit, it will have a negative impact on your credit score.

I have a credit score below 750. Will I get a loan?

If your score is between:

300-599 – You will not qualify for a loan. Such a low score is a warning signal to lenders that you do not have a history of good credit behavior. Most lenders will reject your application right away. It is necessary to take immediate steps to rebuild your credit health and improve your score.

600-749 – Though it is not a high score, you might have a chance of being approved by some lenders. They might be willing to look at other factors that will impact your repayment ability in the future like the stability of your employment, your monthly salary, the extent of your other liabilities. If they think you have the ability to fulfill your repayment burden despite your middling score, your application has a chance of being approved.

750 and above – You have a very good chance of obtaining a loan with such a score. There are several other advantages to a high score: the approval process will be much faster; the loan amount might be larger; you might be able to negotiate a lower interest rate. The whole loan approval process is much simpler.

તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની  જરૂરિયાત હોય, તો  મેહરબાની કરીને અમારો  સંપર્ક કરવા વિનંતી  ઘર બેઠા સર્વિસ આપવામાં આવશે

1. Gumasta ધારા (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
2. નોટરી / સોગંદનામું
3. જન્મ પ્રમાણપત્ર
4. લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર
5. પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના
6. નામ ટ્રાન્સફર વીજળી , મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી
7. પાન કાર્ડ નવા / કરેક્શન
8. gst return filing (through C A)
9. આવકવેરા રીટર્ન
10. કાનૂની દસ્તાવેજો સુધારાઓ
11. મની લોન્ડરિંગ લાયસન્સ
12. આરોગ્ય લાઇસન્સ
13. વ્યાવસાયિક કર
14. નિકાસ આયાત લાઈસન્સ
15. ડ્રાઇવિંગ લાયસન્સ, નવીકરણ, આંતરરાષ્ટ્રીય
16. મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
17. વેચાણ કરાર, વેચાણ ખત

અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો

સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.

અમે તમને ઘર બેઠા સર્વિસ પુરી આપીશુ

Difference between Credit Score, Credit Report and Credit Rating Ahmedabad 9426497770 /079-40099917

Loan,credit card rejected ? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedababd INDIA www.veritastheteam.com

Difference between Credit Score, Credit Report and Credit Rating 

Due to the interchangeable use of these closely related terms, there is often confusion between the terms credit score, credit report and credit rating.

Following is a table comparing these three terms**:

Credit Score	Credit Report	Credit Rating
A statistically generated 3-digit number that sums up your creditworthiness.	A historical record of the repayment schedules of all loans and credit cards of an individual.	This conveys the creditworthiness of companies, countries or governments.
A high credit score (closer to 900) improves your chances of getting a loan approved. A low credit score (closer to 300) adversely affects your chances of getting a successful approval on loans or credit card applications from lenders.	A clean credit report leads to a good credit score. The credit history of a good credit report proves that the borrower was good at managing various debt instruments.	Credit rating is usually denoted by grades, such as AAA, AA, B++, etc. A company rated as AAA would be able to raise funds at a much lower rate as compared to the companies with lower ratings.
Changes depending on how well or poorly the borrower manages his/her debt instruments, such as loans/credit cards.	An entry in your report stays for around 5 years till it is replaced by newer entries.	Changes depending upon the performance of the industry, the market or the company/country.

**The above table is indicative and the information provided is subject to change.

Credit Report for Business

A business credit report is also generated by various credit bureaus and these reports play a vital role in determining the sanctioning of business loans. Unfortunately, a free credit report is currently only available for individuals not for businesses, therefore you will have to pay a fee when you seek a business credit information report. Additionally, business credit information reports may take a few more working days to reach at the mentioned address as compared to an individual’s credit report, which takes about 7-10 business days to reach the mentioned address.

તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની  જરૂરિયાત હોય, તો  મેહરબાની કરીને અમારો  સંપર્ક કરવા વિનંતી  ઘર બેઠા સર્વિસ આપવામાં આવશે

1. Gumasta ધારા (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
2. નોટરી / સોગંદનામું
3. જન્મ પ્રમાણપત્ર
4. લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર
5. પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના
6. નામ ટ્રાન્સફર વીજળી , મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી
7. પાન કાર્ડ નવા / કરેક્શન
8. gst return filing (through C A)
9. આવકવેરા રીટર્ન
10. કાનૂની દસ્તાવેજો સુધારાઓ
11. મની લોન્ડરિંગ લાયસન્સ
12. આરોગ્ય લાઇસન્સ
13. વ્યાવસાયિક કર
14. નિકાસ આયાત લાઈસન્સ
15. ડ્રાઇવિંગ લાયસન્સ, નવીકરણ, આંતરરાષ્ટ્રીય
16. મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
17. વેચાણ કરાર, વેચાણ ખત

અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો

સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.

અમે તમને ઘર બેઠા સર્વિસ પુરી આપીશુ

Office:

VERITAS THE TEAM

127,Sahajanand Park

Nr Swaminarayan Temple

Shahibaug Ahmedabad 380004

Ph: 079-40099917,9426497770

Mail :veritas.smeet@gmail.com

www.veritastheteam.com

Here are 7 Effective methods to improve CIBIL score Understanding the Scoring Pattern. AHMEDABAD 9426497770/ 079-40099917

Loan,credit card rejected ? low credit score call 079-40099917 VERITAS -Independent Financials Advisors, Ahmedababd INDIA www.veritastheteam.com

Here are 7 Effective methods to improve CIBIL score

Understanding the Scoring Pattern

Before anything, first understand what is a CIBIL report and its scoring pattern.

So, an individual's CIBIL report essentially means a database and track record of all the past loans or credit cards with his/her name along with repayment history for regularity or irregularity as the case may be. This data helps to establish the 'financial behavior and financial discipline' of the individual and helps the banks to extrapolate the intent for repayment in future based on this the available data with your current actions and estimates of your current financial needs.

The scoring pattern of the CIBIL score ranges on a point scale of 300 to 900 with 300 being the lower end of the rating scale and 900 points being the highest creditworthiness rating scale of the individual.The higher score an individual is able to garner, the higher the probability of attracting lenders to queue up to offer better and better deals on loans. If you understand the scoring pattern, you are on right track to follow the next few steps to improve your CIBIL rating score card.

1. Clean the Credit Card

Clearing off all your credit card outstanding dues is a vital key to improve your rating. Plan your credit card spending in such a manner that you clear off your credit balances before the due date. This will go a long way to positively reinforce your CIBIL score. Good financial behavior and discipline is what lenders seek in their customers.

So, first and foremost clear off all the outstanding dues because unpaid outstanding amount month-on-month will reduce your score considerably. Possessing just one or maximum two credit cards is the way to go as it curbs your spending instincts plus it is easier to pay your outstanding amount in time and keep a check and track of your spending behavior.

2. Inaccurate Appeals

An individual must make sure that any errors in your credit report are appealed by the individual on the CIBIL website (www.cibil.com). Appeal only if you have a valid point of disagreement. Errors can happen and lenders also could make some typographical data entry errors and even software's are not immune from errors.

If any appeal to rectify reported error is pending, it is mandatory for the lender or financial agency/institution to address the appeal within a timeframe of one month (30 days). Once the error is rectified and addressed, the individual's credit rating score also automatically improves. Always apply for fresh credit only when the older loans or outstanding amounts are totally cleared. It always helps to get loan when you start with a clean slate.

3. Use The Oldest Credit Card

It is erroneously believed that credit card accounts no more in use should be deactivated. This is because mostly people are oblivious about the impact that it has on an individual's CIBIL report. Realistically, a good credit card account over a long period of time that has been managed well with timely payments of outstanding is a blessing in disguise. This gives the much-needed impetus to enhance the CIBIL score. So, the crux of the matter to improve creditworthiness is that a robust repayment track record of your credit card must be continued and held on as long as possible. The longer you hold a positive credit card repayment history the better your CIBIL rating scores.

4. Equated Monthly Installment Payments

When big ticket purchases are being made by an individual, like a four wheeler or apartment or piece of residential land, you will never be eliminated from consideration if you are prompt in repaying the EMIs on your credit card account. So, paying equated monthly installments of your past bigger loans on time will help in improving your track record to pay bigger amounts and thereby getting a higher CIBIL score/rating.

An individual possessing a decent amount of savings coupled with a good repayment track record of credit card bills enhances the rating.

5. (i) The 30% rule of credit utilization

Never ever use your credit card to buy each and everything. You have to keep the 30% rule in mind of credit utilization. Never exceed more than 30% of credit utilization and this will establish not only your credibility for financial discipline and financial management, but will also take your CIBIL score soaring with positivity. When your monthly saving balance is low, it will benefit to reflect a positive CIBIL score.

(ii) Enhanced credit limit

Whenever your rating is good, the bank will offer to enhance your credit limits on your credit card and never refuse to get an enhanced credit limit. It need not mean that you have to spend more but it only reflects the confidence of the bank in you. You can also ask your bank to increase your credit limit, as enhanced credit limit always has inherent plus points from rating agencies. In a nutshell, it effectively means you have more credit at your disposal but you maintain your utilization below 30% of your credit limits. So, the 30% utilization rule and getting enhanced credit limit is very important for a higher rating on the CIBIL scale.

6. Information on secured card

Just in case an individual has a bad CIBIL score, then getting a secured card from leading banks against a fixed deposit is the way to go. Leading banks like Axis Bank, ICICI Bank, Kotak Mahindra Bank, SBI, etc. offer a secured credit card against a fixed deposit of nominal amount. When you repay your balances on time, the CIBIL score soars high.

7. Improving rating through Peer-to-Peer Platform

One of the most effective yet not very known way to improve CIBIL score is using a peer to peer lending platform like Lendbox. There are many benefits of borrowing from a peer to peer lending platform. Unlike banks, Lendbox allow people with poor CIBIL score to register on the platform as long as they have valid reasons for their credit history. Getting a small short-term loan from Lendbox is really easy and there are no charges on prepayment. Repaying on time will improve your score on the CIBIL rating system too. If you do not know what Lendbox platform is all about, just search for how peer-to-peer system works and prepare to get your CIBIL ratings improved in the long run.

તમને જો નીચે પ્રમાણે ની કોઈ સેવાઓની  જરૂરિયાત હોય, તો  મેહરબાની કરીને અમારો  સંપર્ક કરવા વિનંતી  ઘર બેઠા સર્વિસ આપવામાં આવશે

1. Gumasta ધારા (દુકાનો અને મહેકમ) લાઈસન્સ & નવીકરણ
2. નોટરી / સોગંદનામું
3. જન્મ પ્રમાણપત્ર
4. લગ્નની નોંધણી / લગ્નનું પ્રમાણપત્ર
5. પાસપોર્ટ તાજા, નવીકરણ, મુખ્ય નાના
6. નામ ટ્રાન્સફર વીજળી , મ્યુનિસિપલ કોર્પોરેશન, ગેસ એજન્સી
7. પાન કાર્ડ નવા / કરેક્શન
8. gst return filing (through C A)
9. આવકવેરા રીટર્ન
10. કાનૂની દસ્તાવેજો સુધારાઓ
11. મની લોન્ડરિંગ લાયસન્સ
12. આરોગ્ય લાઇસન્સ
13. વ્યાવસાયિક કર
14. નિકાસ આયાત લાઈસન્સ
15. ડ્રાઇવિંગ લાયસન્સ, નવીકરણ, આંતરરાષ્ટ્રીય
16. મિલકત, બેંક, સરનામાં ટ્રાન્સફર માટે અરજી
17. વેચાણ કરાર, વેચાણ ખત

અમદાવાદ મા કોઇ પણ પ્રકારના સરકારી કામ માટે મળો

સર્વિસ ટેક્સ સરકાર કાયદા મુજબ લાગુ પડશે.

અમે તમને ઘર બેઠા સર્વિસ પુરી આપીશુ

Office:

VERITAS THE TEAM

127,Sahajanand Park

Nr Swaminarayan Temple

Shahibaug Ahmedabad 380004

Ph: 079-40099917,9426497770

Mail :veritas.smeet@gmail.com

www.veritastheteam.com