Need to book those heavily discounted flight tickets to Thailand but the first of the month is a bit far? The solution is right there in your MobiKwik app! Just select ‘Boost’ on the app and get an instant loan up to INR 1,00,000 in under five minutes!

It does not require any collateral or documentation but a good CIBIL Score. So, what is CIBIL and how does it affect your credit worthiness? 

CIBIL’s Your Credit Friend!

Before you are approved for an instant or personal loan, the lender will check your CIBIL score. Your CIBIL Score is a number between 300 and 900 calculated—using an algorithm by various credit agencies—on the basis of your loan and credit card repayment behavior.

The higher your score, the better your chances of being approved for a loan. Usually, 750 and above is thought to be a good CIBIL Score as you’ll be considered a good credit risk. You can check your Score online easily before you apply for a loan. 

What can have a toll on your Score?

1. Late payments, defaulting on EMIs or dues 
2. Increased balance of your credit card which hints at a large repayment burden 
3. Multiple loans and credit cards approved in your name in the recent past indicate your increased repayment burden.

How to boost the number?

These tips can improve your CIBIL Score:

1. Paying dues on time
2. Controlling your credit utilisation and keeping your balance low
3. Maintaining a healthy mix of your secured (auto, home) and unsecured loans (credit card and personal) 
4. Being cautious in applying for new credit and not living on credit
5. Missed payments by your co-signer, guaranteer, or fellow joint account holder will negatively impact your score too
6. Monitoring your score regularly to maintain its health

Get your instant personal loan here: https://www.mobikwik.com/products/zip-emi-personal-loan