Today it is mandatory to pass u r file from CIBIL to get personal loan approved. The function of CIBIL is to collect, process and collate credit information of individuals/ companies/ firms/ entities and to provide credit information reports to our members. The Company acts as a repository of both positive and negative credit information, historical and current on the existing and potential borrowers of the credit grantors.
As per the act only the member of the CIBIL can access the data. Know it is mandatory to maintain all of our accounts with positive score. The old accounts also(don’t neglect the old accounts, account not using at present) need to maintain with the minimum balance. As a evidence of the positive account holder. Try to close the account only if u don’t have any option, or let it be as usual.
Any of you please tell me how many points/ Score required to approve a personal loan.