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Cibil Score: It is very important to have a good CIBIL score. If your score is low, it can be difficult to get a loan or credit card from banks. CIBIL score ranges from 300 to 900.

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A good score helps you get a loan easily and at low interest rates. If your CIBIL score has become bad (bad cibil score), then there are many ways to improve it, which we will tell you about further.

Take a loan for a long period-

If you want to improve your CIBIL score, then choose the option of repaying the loan for a long period. This will reduce your EMI and you will be able to pay on time. Paying EMI on time will improve your CIBIL score.

Do not use more than 30 percent of the credit limit-

To improve the CIBIL score, do not use more than 30 percent of your credit limit. This will keep your credit utilization ratio low. Also, continue using your old credit card and pay the bills on time and in full. This will build a strong and long credit history, which will improve your CIBIL score and keep it high in the future.

Avoid taking multiple loans at the same time-

Applying for multiple loans in a short period can lower your CIBIL score as banks may consider it a sign of financial instability. One should take as few loans as possible in a given time frame and repay one loan before taking another.

Avoid taking multiple loans at the same time-

Becoming a guarantor carries some risk as your CIBIL score will be affected if the primary borrower defaults. You should accept such an arrangement only if you are confident of the borrower’s ability to repay and their financial stability.

Correct the error-
Take your credit report and check it carefully. If any error is found, get it corrected immediately. To maintain your financial health, review your reports periodically.

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