Need business finance? Here’s why improving your credit score matters

If you are in the market for business finance, having a stellar credit score is paramount. Find out why.

Benefits of a good credit score

• Get higher loan amounts
• Choice of flexible tenure options
• Quicker loan sanctions
• Easy approvals
• Enjoy lower interest rates

Credit scores over 700 are usually considered good. In fact, the higher the score, the more favourable the loan terms you can avail of.

Credit scores are dynamic. It is based on your credit behaviour and is calculated regularly. If your score is low, you can improve it before taking a loan.

Ways to improve credit score

• Pay your EMIs and credit card dues on time
• Have a good credit history
• Limit credit usage
• Have a good credit mix

Build your credit score before seeking business finance to get attractive loan terms and cost-effective interest rates for your business.

IDFC FIRST Bank offers easy loans up to Rs.1 crore at competitive interest rates. Apply now and fund your business.