-
Customer care hotline Call 1800 10 888
Are you ready for an upgrade?
Login to the new experience with best features and services
Notifications
-
As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
-
Activate your Credit Card within minutes and enjoy unlimited benefits
Accounts
Deposits
Loans
- IDFC FIRST Bank Loans
-
Personal Loan
-
Consumer Durable
Loan -
Home Loan
-
Business Loan
-
Professional Loan
-
Education Loan
-
New Car Loan
-
Pre-owned Car Loan
-
Two Wheeler Loan
-
Pre-owned Two
Wheeler Loan -
Commercial Vehicle
Loan -
Gold Loan
-
Loan Against Property
-
Loan Against Securities
-
Easy Buy EMI card
-
Personal Loan
EMI Calculator -
Education Loan
EMI Calculator -
Home Loan
EMI Calculator
Wealth & Insure
Payments
Cards
- IDFC FIRST Bank Cards
-
Ashva :
Metal Credit Card -
Mayura :
Metal Credit Card -
FIRST Millennia
Credit Card -
FIRST Classic
Credit Card -
FIRST Select
Credit Card -
FIRST Wealth
Credit Card -
FIRST WOW!
Credit Card -
Forex Card
-
Deals
-
Debit Cards
-
Co-branded Cards
-
Credit Card
EMI Calculator -
FIRST Corporate
Credit Card -
FIRST Purchase
Credit Card -
FIRST Business
Credit Card
Premium Metal
0% Forex & Travel
Lifetime Free
- Max benefits, Free for life
-
FIRST Classic10X RewardsShoppingNever Expiring Rewards
-
FIRST Millennia10X RewardsShoppingNever Expiring Rewards
-
FIRST Select10X RewardsLifestyle1.99% Forex
-
FIRST Wealth10X RewardsLifestyle1.5% Forex
-
FIRST WOW!RewardsTravelZero Forex
-
LIC ClassicRewardsInsuranceShopping
-
LIC SelectRewardsInsuranceShopping
10X Rewards
- Reward Multipliers
-
AshvaLifestyleMetal₹2,999
-
MayuraLifestyleZero Forex₹5,999
-
FIRST ClassicNever Expiring RewardsShoppingLifetime Free
-
FIRST MillenniaNever Expiring RewardsShoppingLifetime Free
-
FIRST SelectNever Expiring RewardsLifestyleLifetime Free
-
FIRST WealthNever Expiring RewardsLifestyleLifetime Free
UPI Cards
Fuel & Utility
Showstopper
Credit Builder
More
NRI Savings Account
NRI Fixed Deposit
FOREX Solutions
Transfer to NRE
Corporate Account
Cash Management Services
Corporate Lending
Treasury
MSME Accounts
Trade Services
MSME Loan
MSME Solutions
Offers
About Us
Investors
Careers
ESG
When managing your finances, few things are as important as understanding your credit score. Irrespective of whether you are looking to get a loan, apply for a credit card, or even make big financial decisions, your credit score has the power to influence the outcome. Behind every credit score, there is a system that tracks your financial habits and evaluates your creditworthiness. One of the most prominent names in this process is CIBIL.
Understanding CIBIL
So, what is CIBIL exactly? CIBIL stands for Credit Information Bureau (India) Limited. Founded in 2000, it’s India's leading credit information company. CIBIL's main function is to gather financial records from banks, analyse it, and generate credit reports. Currently, CIBIL maintains credit records for over 600 million individuals and 32 million businesses.
What does CIBIL have to do with your credit score?
Now that you know the CIBIL meaning in detail, let's understand its connection with your credit score. The CIBIL report includes information about your payment history, outstanding loans, credit card usage, and more. The way you manage these financial responsibilities determines how high or low your credit score is. Take a look below:
- Timely payments on loans or credit cards positively impact your score. Late payments, defaults, or missed EMIs (Equated Monthly Instalments) reduce the score.
- How much credit you use from the total available credit also affects your score. Ideally, it is advisable to keep the credit utilisation below 30% of your total available limit.
Having a balanced mix of secured (like home loans) and unsecured loans (like personal loans) and a longer history of prudent credit use boosts your score.
- Numerous credit inquiries within a short duration can indicate credit hunger and may lower your score.
Why does your credit score matter?
Even though there are many benefits of a strong credit score, the two most crucial are:
Quick approval to credit options:
A high CIBIL score signifies that you are a low-risk borrower and can manage debt responsibly. This means your loan application could be approved without any hassles. For example, if you have a credit score of 730 and above, IDFC FIRST Bank's FIRSTmoney, a smart personal loan, can get you a loan offer of up to ₹10 lakh.
Your FIRSTmoney loan offers you quick access to funds at an affordable rate and transparent terms. Moreover, the borrowed funds can be repaid between 2-60 months. Apply online via a 100% digital process today and get quickly approved for a FIRSTmoney loan!
Approved loan on credit cards:
A good credit score increases your chances of getting approved loan offer on your credit cards. This approved loan means you can make large expenses without maxing out your card and improve your credit utilisation ratio.
Ending notes
CIBIL plays an important role in determining your financial credibility. As a leading entity responsible for tracking and evaluating your creditworthiness, CIBIL's report impacts your ability to secure loans, credit cards, and favourable terms from lenders. This explains why maintaining a high score is non-negotiable. So, make sure to prioritise timely payments, manage your credit wisely, monitor your credit report regularly, and practice other healthy financial habits.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.