HomeNews & UpdatesWhat Does Having a Low or High Credit Score Mean?

What Does Having a Low or High Credit Score Mean?

The credit score depicts the number of credits you have under your name. In simple terms, it helps the lender understand how much debt you have, what is your repayment history, and other loan-related enquiries.

The credit score is a detrimental factor for the lenders to decide whether to approve your loan application or not. In India, this score is also essential when you have a credit card to apply in most banks.

Typically, your credit score should be 750 or above as it increases the approval chances of your loan application. For those who have a low credit score, it becomes difficult to avail a loan or find a lender that offers reasonable interest rates.

Below we have discussed in detail what does it mean to have a low or high credit score. Let us begin by understanding what does having a high credit score mean.

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What Does Having a High Credit Score Mean?

credit score

Ideally, the credit score ranges between 300 and 900. It is highly dependent on the person’s borrowing and repaying history. However, the closer the credit score is to 900, the better are your chances of getting a loan.

When you have a high credit score, the lender considers you as a reliable borrower, giving you an edge over other applicants. On the other hand, a good credit score helps secure a reasonable interest rate.

What Does Having a Low Score Mean?

A low credit score means that it will be difficult for you to secure a loan. Lenders usually do not consider approving the loan application with a low credit score, as it means the borrower is unlikely to repay the loan amount on time.

Furthermore, if you are successful in availing a loan despite a low credit score, the interest rate applied will be high. Most banking institutes in India will immediately reject the loan application of borrowers with credit scores less than 750. On the other hand, NBFCs might approve the loan application with a low credit score but will charge a higher interest rate.

After so much of discussing the credit scores, you must be wondering how you can check your credit score? Well, you can check the credit score at Finserv MARKETS online. Here’s how.

Steps to Check Credit Score at Finserv MARKETS

  1. Visit Finserv MARKETS online and go to the ‘Check CIBIL Score’ section.
  2. Enter the necessary details and submit. You will receive an OTP on your registered email ID or contact number. Verify your identity and proceed.
  3. Further, you will be able to view the details of your financial health report that contains your credit score as well.

Note that checking your credit score at Finserv MARKETS is free.


We understand that this year has been financially challenging for many people. So, to gain some financial stability, many of you must be looking to avail a loan. However, if a low credit score is causing difficulty to secure a loan at the moment, it is advisable to work on improving the score before making another loan application.

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