Key Points
There is no denying the fact that credit score, also commonly known as CIBIL score, has a key impact on the interest rates one is offered at the time of borrowing money..
The relationship between your credit score and interest rates is usually inverse, which means the higher your CIBIL score, the lower the rate of interest, and the lower the score, the higher the interest rate..
For instance, Ajay Mishra, a 31-year-old marketing manager boasts of a credit score of 760..
This relationship between credit score and interest rates applies to various types of borrowing such as mortgages, car loans, personal loans and credit cards..
In case of home loan, a higher credit score can lead to lower mortgage interest rates, which can save you a lot of money over a long time. ..
