Role of Salary Accounts in Building Credit History
IDFC FIRST Bank
Did you know your salary account can impact your credit score too?
Though surprising, you can build your score by using your salary account correctly. Know how.
IDFC FIRST Bank
Regular salary credits
If you get regular salary credits, your financial stability is established. Lenders have a favourable view and consider you creditworthy.
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Good balance maintenance
Though salary accounts are zero balance accounts, if you maintain a healthy balance, it paints a credible financial picture for lenders.
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Smart banking
With sufficient balance in the account to meet all the bills, avoiding overdrafts and cheque bounce, you can build a healthy score.
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Establishing credit history
For users with no banking history, a salary account can be the first step towards a credit profile and building a credit history.
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Bank reference
If you maintain a longstanding relationship with your bank, you can get credit reference letters where your creditworthiness is vouched for.
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Use these tips to build your credit score. Choose IDFC FIRST Bank Corporate Salary Account for attractive interest and easy banking facilities too.