Credit Scores in India
What a Credit Score Is
A credit score is a three-digit number summarising how reliably you repay debts, and lenders use it to decide whether and at what rate to lend to you.
A credit score is a number, in India usually between 300 and 900, that reflects your borrowing and repayment history.
Bureaus
Four credit information companies operate in India: TransUnion CIBIL, Experian, Equifax and CRIF High Mark.
Who uses it
Banks, NBFCs and card issuers check it before lending.
Why it matters
A higher score can mean easier approval and lower interest rates.
A loan application
Two applicants ask for the same loan, but the one with the higher score gets a lower rate.
Thinking a credit score measures wealth
It measures repayment behaviour, not income.
Key takeaways
- Scores range from 300 to 900.
- Four bureaus operate.
- Lenders use them.
- High scores mean cheaper credit.
No recording for this one yet - EconReader can read it aloud for you.