Learn to Earn, Online or Offline by Ethical Means [ Established 2011 ]
by Harbans Singh · 15/10/2017
Yesterday I went to my bankers, the HDFC Bank Ltd to raise Personal Loan. The Bank refused to entertain my Personal Loan application as my CIBIL Score was just 593 and there were many defects in my CIBIL Report. When asked to explain, the branch manager of HDFC Bank could not provide any clue about the Loan Accounts appearing in my CIBIL Report. What should I do? How can I improve my Credit CIBIL Report and Score?
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Dear Sir,
We can help you in resolving this issue from CIBIL Report. Need few document so kindly share your Contact number or kindly reach me on 7899055935 – Syed Afshan.
Thanks & Regards
Syed Afshan
Banks usually expect you to maintain a higher score than 750. Let me tell why your score was low, then you can analyze and arrive the conclusion that how to increase your CIBIL score. Reasons behind the low CIBIL score:
1.Loans are generally classified into two types: Secured (such as home loan, jewel loan etc.) and unsecured (personal loan) loans. If you have more unsecured loans in your CIBIL, then your score will be less.
2.Your score is low because you might not repay correctly (for already you are paying). Anyone of due might not be cleared properly.
3.Sometimes, banks may not update properly about your loan EMI or Closure.
@Harbans_Singh, I faced the similar problem. I tried my level best to contact the CIBIL TransUnion, Mumbai on their Customer Care (Not a Toll-Free Number) No.022-61404300 continuously for 15 days but every time I ended up the computerised reply “Your Call is Important to us. All our executives are busy attending to the calls of other consumers.” Then I was made to listen to computerised taped warnings – what to do and what not to do but no executive came online to take the call. I ended up paying Call charges of about Rs.100-00 daily for 15-20 days. Thank God, I consulted a Bank Manager of Oriental Bank of Commerce, who advised me to take the help of Profession Experts like CIBIL Consultants who are competent to make complete analysis and investigation of CIBIL Reports or Credit Reports of any Credit Rating Agency like Experian or Equifax. He also told me that CIBIL Consultants were practical result oriented Credit Report Experts.