Being credit ready prepares a student for the world of credit system and having a good CIBIL credit score helps in getting the credit easily.
So, what is CIBIL credit score?
A CIBIL score is the indicator of your ability in repaying the credits. CIBIL scores are the deciding factor for many banks when it comes to considering your loan application and providing the loan. The higher the score, the higher the chance your loan application will be reviewed and approved.
Why it is important for the students?
Along with making you credit ready it gives the practical experience to students on handling financial situations. It is also important for many kinds of the loans to be sanctioned. To list a few:
- It helps to get the home loans, car loans and personal loans
- It helps to get a credit card
- More negotiating power while getting the loans and credit cards
- Approval on higher limits of loans as well
- Low interest rates
It also helps in upgrading the student life with equipments, gadgets. Along with that it helps you to continue with your dreams and work towards them.
How to start with CIBIL credit score?
The best way to get into the credit system and start building your CIBIL score is by signing up to slice and start buying things on credit. slice helps you to shop online, take emergency cash, recharge your phone/wallet, settle bills, make cashless payments and pay for all of this… later.
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