CIBIL score is a measure of your creditworthiness. It reflects your past payment history and is a critical factor which is taken into consideration while applying for credit. It must be noted that CIBIL score is simply a number which keeps changing as per your payment pattern.
It is a myth that a bad/ poor credit score will hamper your profile. This is because even when you have a bad score and you start clearing the outstanding dues your score will improve. This will eventually be reflected in your credit score. If not, you can always inform the credit bureau about the same and get it rectified.
Coming back to the point that personal loan can be used to improve CIBIL score so yes you can do that and here’s why -
Read Also: Why You Should Take a Personal Loan to Increase Your CIBIL score?
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.