CIBIL score or credit score is essential for any loan application. If you have a bad credit history, then you prone to have a bad credit score. However, to get a loan sanction, you need to have a good credit score of above 750.
If you are a Chartered Accountant, then you will definitely need money to run your own business or firm. This will force you to apply for a business loan for Chartered Accountant. To get the loan approval and to improve the score, follow these steps:
First of all, keep monitoring your credit balance
If you do not have the idea about your credit balance and you keep on using it and increasing it, it won’t be a good idea. You may be considered as debt hungry. Make sure your credit balance is minimum, as this will help you to improve the chances of availing a Bajaj Finserv CA loan. If you are taking debt, pay off your credits on time. This will increase your credit score and your creditworthiness.
Secondly, clear the EMIs on time
If you have some pending EMI payments, it can lead to a bad or a negative credit score. If your repayment behavior is negative, you will not get an affordable loan. So, it is mandatory to avoid all delays and help improve your credit score.
To learn a few more steps, read: 5 Ways to Improve CIBIL Score to Get a Business Loan for Chartered Accountants
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.