What is minimum credit score can you have?

A good CIBIL Score is important when you apply for loans and credit cards. CIBIL score ranges between 300 and 900. Every lender accesses your CIBIL score before they offer you a loan. As, these scores gives the lender an idea about your creditworthiness, previous payment track record, previously applied loans as well as debts applied. 
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A credit score above 650 is considered good in order to get instant loan approval. On the other hand, any credit score below 650 is considered a bad score that means you would not be eligible to apply for any loans to meet your financial requirements. Generally, a credit score lies between 300 and 900. The better the loan, better are your loan approval chances. The score closest to 900 is considered good to avail loans on lesser interest rates from lenders whereas if your credit score is below than this is not good and it shows that you are not eligible to apply for loans or credit cards. There are some factors that influence your credit score are such as a number of outstanding loans in the past, your credit utilization ratio, loan servicing term etc. 

To maintain your healthy credit score always try to pay your due bills within time.



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