Credit Score for Personal Loan
Score bands, lender minimums, how often bureaus update and how to improve your score before applying.
Updated 7 October 2026 · 8 lenders trackedWhat you need to know
Because a personal loan has no collateral, your credit score decides both approval and rate. Scores range from 300 to 900 across four bureaus — TransUnion CIBIL, Experian, Equifax and CRIF High Mark — and 750+ is considered good. Lender guidance: IDFC FIRST 710+, HDFC Bank about 720+, Kotak about 750+; Bank of Baroda sets the rate by CIBIL band.
Score bands
| Score | Band | What to expect |
|---|---|---|
| 750 – 900 | Good to excellent | Best chance of approval and the lowest rates in a lender’s band |
| 700 – 749 | Fair to good | Usually approved; rate may be higher. IDFC FIRST asks for 710+, HDFC Bank about 720+ |
| 650 – 699 | Weak | Fewer options, higher rates, lower amounts; many banks decline |
| 300 – 649 | Poor | Likely rejection; fix defaults and card utilisation first |
| NH / –1 | No history | Not a bad score — rely on salary-bank or pre-approved offers |
- India has four credit bureaus — TransUnion CIBIL, Experian, Equifax and CRIF High Mark. Scores range from 300 to 900.
- Since 1 January 2025 RBI requires lenders to report and bureaus to update credit data at least every fortnight, so repayments show up faster.
- You are entitled to one free full credit report a year from each bureau.
- Many applications in a short time create multiple hard enquiries that lower your score — compare offers first, then apply.
How to improve your score
- Get your free reportsOne free full report a year from each bureau; check all four.
- Fix errorsDispute wrong entries with the bureau; resolution is due within 30 days.
- Pay on timePayment history carries the most weight; set up auto-debit.
- Lower card utilisationKeep balances below about 30% of limits.
- Space out applicationsEach application creates a hard enquiry.
- Keep old accountsA long, clean history helps.
Your rights
- Lenders report and bureaus update data at least fortnightly since 1 January 2025.
- Bureaus must alert you when your report is accessed and resolve complaints within 30 days, paying ₹100 a day for delays.
- A lender that rejects you on the basis of your credit report must tell you why.
Frequently asked questions
Does checking my own score reduce it?
No. Your own check is a soft enquiry; only lender enquiries on applications count.
How fast will my score improve after closing a loan?
With fortnightly reporting, the closure should show within a few weeks; the score itself improves gradually.
For information and comparison only. Loan terms, rates and rules change — confirm with the lender and read the Key Facts Statement before borrowing.