Cibil Score: There is no doubt that the CIBIL score is the most important for getting a loan. Whenever it comes to a loan, everyone checks the CIBIL score first. If your CIBIL score is down or bad, then there is a problem in getting a loan. But if the CIBIL score of a person is zero, it means that the account holder has no transaction history. In such a situation, the bank rejects the loan request of the person. Today in this news, we are going to tell you about such a loan, which the bank approves even if the CIBIL score is minus or poor.

Credit score parameter-

The number of CIBIL scores is between 300 to 900. If your CIBIL score is good, then you get a loan easily. On the other hand, if the CIBIL score is bad, then you may have trouble getting a loan. Generally, banks consider a good score if your CIBIL score is 750 or more.

Why is the CIBIL score zero-

Many people still do not know why the CIBIL score is zero. So let us tell you that if you have never taken a loan from the bank nor have used a credit card, then your credit history is not generated, due to which your credit score becomes -1. Which is called zero credit score in common language.

Know which loan is this.

If you also want to know how to generate a CIBIL score, then let us tell you that for this, first of all, you have to take a loan from the bank, and by repaying it, you will also have to develop a credit history, but it may take some time to do this.

How to get this loan-

If in such a situation a person needs a loan, then in such a situation the person has the option of taking a loan on FD i.e. fixed deposit. While giving this loan, banks do not check your CIBIL score (zero cibil score se loan). In such a situation, even if your CIBIL score is Zero or Poor Cibil Score, this loan is easily approved by the bank. Whenever this loan is given by the bank while giving it, the bank mortgages your FD (FD se kaise le loan) as security/guarantee.

Benefits of FD loan-

This loan can be beneficial for those whose CIBIL score is minus (CIBIL Score Minus). This increases the credit score because as you take a loan, the bank gives you a loan on FD, which starts your loan in the banking system. After the loan starts, you can repay it by paying the installment on time.

With this, your repayment history will develop and your credit score (Credit Score kaise badhaye) will increase. Apart from this, if you want, you can improve your credit score by using a credit card. If your CIBIL score improves once, then after that you can easily take any loan from any bank.

Period to repay the loan-

If you take a loan on FD, then its duration depends on the duration of the FD. The loan you have taken against FD (fixed deposit), you have to repay it before the maturity of the fixed deposit, but let us tell you that the interest rates of the loan taken on FD are usually 2 percent higher than the interest rate on FD. One advantage of taking this loan (FD loan ke fayde) is that you are not charged any processing fee etc. for taking this loan.

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