Discover and read the best of Twitter Threads about #cibil

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A thread on what is #creditscore and why is it important?
#credit #creditcard
I'm sure you must have done at some point too! 😛
Which range do you fall in? When did you check your #creditscore last?
#banks #CIBIL
Read 7 tweets
1/10
* Thread on #CIBIL SCORE *

Since the thread on #CreditCards ,
(Link here for reference , )

Many DM'ed me asking about CIBIL score , so decided to write a small thread on it .
Disclaimer : This is MY opinion based on MY limited knowledge :)
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2/10
A CIBIL score is a consumer's credit score generated by a credit bureau on the basis of their algorithm. It basically evaluates the credit history based on reflection of repayment and credit profile & thereby determines the eligibility for a loan.
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3/10
So a good credit score (above 700 generally ) can help us get a loan easily at a relatively better rate of interest.

How? 🤔
It indicates you PLAN well for your financial needs & pay your debts on TIME. Basically " GOOD CREDIT WORTHINESS " .
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#InvestmentPointers
Read 11 tweets
#BajajFinance is falling based its loan book which is 90% unsecured. As per experts it would be difficult to collect. Let's clarify few things.
1) Bajaj Finance loan book consists of customers of the avg #Cibil score is 750. They don't approve anything below 700 at all.... (1)
2) The customer repayment may not hit hard since since the avg EMI is not more than Rs:5000/-(approx)
3) In current scenario the customer default would be limited since the Cibil plays a major role in customer credit worthiness

3) It has a mkt share of 72% consumer finance and..
And at current scenario ( last one year sales Cash vs Finance) the sales thru finance contributes 50% of the total sales in major segments.
4) The collection process of Bajaj is far stronger compared to its nearest competitor interns of infra and manpower.
Read 5 tweets
@RBI #moratorium of 3 mths of #EMIs on all oustanding term loans as on Mar 1, 2020. Includes all #Banks & #NBFCs. #EMI payments will restart only once the time period expires. A #creditcard #loan is not classified as a #TermLoan. It is basically revolving #credit. @fifaindiaorg
This #EMIHOLIDAY is not a Waiver. Once things are normal the deferred #EMIs have to be paid. It simply won't have a negative effect on #CIBIL score. This will not happen in an automated manner, bank has to approve on the basis of request. #moratorium @RBI #RBItoday #rbigovernor
While #CreditCards are defined as revolving credit & not term loans, as per clarity from @RBI it is clear that credit card dues are also covered. Though this must be avoided if possible. #Moratorium #EMIHOLIDAY
Read 3 tweets
A #CIBIL thread- Long read but I had to vent out. My CIBIL score is 622/900- 96% of loans sanctioned last year have a better score. So bottom of the barrel pretty much 1/13
My financial position- zero debt, 3 active credit cards with no overdues or rollovers EVER, a liquid investment portfolio that allowed me to retire at 46 i.e 5 years ago. Doesn’t scream bottom of barrel does it? So what went wrong? 2/13 #CIBIL
Enter #CITIBANK –I’ve had a CITI card since 1994 with a zero track record of overdues or rollover. In 2011,I was a target of a fraud in New York.For a purchase of 750$ the shopkeeper swiped the card for 1200$. I spotted it immediately got the merchant to reverse it. 3/13 #CIBIL
Read 13 tweets

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