Your credit score plays a vital role in determining your loan eligibility and interest rates. A good score signals that you’re a trustworthy borrower, while a low one can make it difficult to get approvals.
To improve your score, pay EMIs and credit card bills on time. Even a single delay can hurt your rating. Set reminders or enable auto-pay.
Avoid frequent loan applications — too many inquiries can signal financial stress. Also, keep your credit utilization below 30% to show lenders you can manage credit responsibly.
Review your credit report regularly and correct any errors. A mix of secured and unsecured loans (like home and personal loans) further strengthens your profile.
Building credit takes time, but with discipline and consistency, you’ll soon enjoy better loan offers and lower interest rates.
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