936 questions
451 answers
24,811 users
0 votes
Can I calculate my Credit score by my own? What is the process for it?
asked Sep 12, 2017 in Home Loan by Imanuel (8 points) | 49 views

1 Answer

0 votes
Hi Imanuel, I guess there is some confusion here. The credit score is calculated for you as an individual and not for the home loan. Yes, banks will assess your credit score to determine your credit worthiness , based on which your home loan can be issued or rejected. You credit score also impacts your home loan interest rate to some extent.
Credit score is calculated by considering various factors - any outstanding loan, credit history, previous defaults if any etc. In India CIBIL issues a credit score and for some time now, your CIBIL score has been available for free - https://www.cibil.com/freecibilscore.
Enter your details on the above link and your CIBIL report will get generated.
answered Sep 12, 2017 by Sharad Basu (63 points)
Welcome to Zippserv Q&A, where you can ask questions and receive answers from other members of the community.