A credit score is a 300–900 numeric rating of creditworthiness issued by one of four RBI-licensed Credit Information Companies (CICs): CIBIL TransUnion, Experian, Equifax, CRIF High Mark. Banks pull a score at loan application to price the rate spread, decide on approval, and determine the maximum loan amount.
Indian score bands and effective rates
| Score | Band | Typical home-loan rate impact |
|---|---|---|
| 750–900 | Excellent | Best published rate |
| 700–749 | Good | +0.10% – 0.50% over best rate |
| 650–699 | Fair | +0.50% – 1.50%, may need co-applicant |
| 600–649 | Poor | High rejection probability; NBFCs only |
| Below 600 | Very poor | Rejection at most banks |
| −1 | ”No history” | Treated like 750+ at most banks for first-time borrowers |
What drives the score
- Repayment history (35%) — on-time EMI and credit-card payments
- Credit utilisation (30%) — outstanding ÷ total limit on credit cards
- Credit mix (15%) — secured + unsecured combination
- Length of credit history (10%)
- New credit / hard enquiries (10%) — frequent applications hurt
Where to check yours (free)
Each CIC offers one free annual Credit Information Report under RBI rules:
- CIBIL: https://www.cibil.com/
- Experian: https://www.experian.in/
- Equifax: https://equifax.co.in/
- CRIF High Mark: https://www.crifhighmark.com/