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Does LIC Housing Finance check CIBIL?
LIC considers credit score as a barometer to gauge your past credit behaviour, and hence, CIBIL score becomes the most important factor in defining your eligibility to get a home loan. A higher credit score increases your chances to get loan approval from LIC.
What is CIBIL score in LIC Home Loan?
Interest Rate on Home Loan
| Loan slab | CIBIL Score | Non-Salaried & Non Professional |
|---|---|---|
| More than 50 Lakhs & Up to Rs. 1 Cr | CIBIL 650 – 699 | 7.40\% |
| CIBIL 600 – 649 | 7.70\% | |
| CIBIL < 600 | 7.80\% | |
| CIBIL < 0 NTC | 7.80\% |
Can I get home loan with 650 credit score?
An individual with a CIBIL score of 700-750 and above is considered least risky for granting a Home Loan. A score below 650 is considered high risk, and lenders may reject Home Loan to such applicants.
Can I get loan if my CIBIL score is 700?
Most lenders consider a score of 750 and above as an excellent credit score for availing of hassle-free loans. A credit score of 700 falls in the next category which signifies that lenders consider you a moderate risk category for approving potential loans.
Can I get housing loan from LIC?
LIC Housing Finance Limited (LICHFL) offers affordable home loan options ranging from Rs. 1 lakh to Rs. 15 crore at attractive interest rates starting from 6.90\% p.a. and with flexible tenures going up to 30 years.
Is 750 a good CIBIL score?
CIBIL scores can range anywhere between 300 and 900, with 900 denoting maximum creditworthiness. A CIBIL score of 750 or above in your credit report is ideal. It will aid in qualifying you for personal loans and credit cards. Thus, keeping your CIBIL score above 750 is essential.
Is 698 a good credit score in India?
Your score falls within the range of scores, from 670 to 739, which are considered Good. Lenders view consumers with scores in the good range as “acceptable” borrowers, and may offer them a variety of credit products, though not necessarily at the lowest-available interest rates. …
What is a good CIBIL score for a home loan?
What is a good CIBIL score for Home Loan? A good CIBIL score for home loan normally starts from 700 upwards. However, the closer you are to 900, the more faith the credit institution will have in your capacity to repay the home loan.
How to increase CIBIL score?
With your worries of how to increase CIBIL score resolved, have a look at Bajaj Finserv’s Loan Against Property, an advance you can avail even with a moderate credit score.. Loan against property is a type of secured loan.
What are the criterias in a CIBIL credit report?
Firstly you need to know what are the criterias that actually are in our credit report, CIBIL will check your Repayment History (35\%), Credit Utilization (30\%), Mixture of credit (10\%) Duration of Credit Servicing (15\%), Credit Inquiries made (10\%).
How to apply for home improvement loan through LIC HFL?
Apply for Home Improvement Loan online. Click here “Rewriting facility available. Contact Area Office”. Plan your Home Loan using our Calculator. Know the Home loan amount you are eligible for and the EMI against your loan. Disclaimer: All loans are sanctioned at the sole discretion of LIC HFL.