Free Cibil Score My CIBIL score is low under 600, Am I eligible for a loan against property? 3 min read 0 0 1,083 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr Am I eligible for a loan against property,My CIBIL score is low under 600 The simple answer is NO! Your credit score is not good enough. Banks and NBFCs are willing to take part in more risky conditions in the case of a backlog of securities in case of a LAP (loan against property). However, the score of less than 600 consists of a serious red flag. Note: my Cibil score sometimes is not the best indicator of a person’s credit profile. It is better to look at the entire report before making a definite decision. If you need more information visit her – how to improve your my CIBIL score If my CIBIL score less than 750 is not good by any bank. So, you should first try to improve my CIBIL score and then apply for a loan against property. my CIBIL score is based on 5 major factors. Once you know that you are losing, you can work hard to improve your CIBIL score. 5 main factors effects my CIBIL score are: Repayment history (35%) – Pay your time EMIs and credit card dues. Clear any defaults in the beginning. Credit Utility (30%) – The Credit Usage Ratio The total credit you pay for your total credit limit (loan ratio). The higher the credit usage ratio is risky and the negative impact on credit scores. So, you think you can reduce some of your responsibilities. Credit Serving Duration (15%) – The time you pay credit (loan) services will also affect your credit scores. If you make payments on your debts/credit cards, your credit score will increase. Credit Mix (10%) – Expanding your credit (credit) on credit card, auto loan, personal loan, housing loans helps you to improve your credit score. The number of credit inquiries (10%) – Whenever you apply for a loan or credit card, the lender will conduct an inquiry into your CIBIL report. A large number of inquiries indicate that credit is not a good signal to your credit health. Therefore, the highest credit inquiries will have a negative bearing on your credit scores.