CIBIL Score: After repaying the loan, CIBIL score will be updated in this many days, RBI has made a new rule..

CIBIL Score update: Every loan holder wants their CIBIL score to be updated immediately after repaying the loan. But sometimes it gets delayed so much that customers have to face difficulties if they want to take any loan in the future (bank loan rules).

Given the problems of bank customers, the RBI (RBI new rule for CIBIL Score) has now set a new rule for updating the CIBIL score. It is important for every bank customer to know about this rule so that they can make appropriate decisions at the right time regarding loans and credit, etc.

CIBIL score will be updated every 15 days-

According to the rules set by RBI (RBI Cibil score rules), now after repaying the loan, the CIBIL score will be updated in 15 days instead of 30 days (credit score update time limit). Banks will report it to credit information companies on time. With the implementation of this rule, those who repay the loan (loan repayment) will get direct benefits.

This will be the role of credit information companies-

RBI has now given instructions to all banks and NBFCs to strictly implement the rules for updating CIBIL score (good cibil score). Now, banks will send the CIBIL score report to credit information companies (CIC) every two weeks.

The role of credit information companies in this will be they update the CIBIL score information immediately.

These people will also benefit, including bank customers-

If banks and credit information companies violate the rules regarding updating the CIBIL score (how to improve cibil score), then action will also be taken.

RBI has given strict instructions in this regard. This new rule of updating CIBIL score will now benefit banks, credit information companies, and customers.

Loan repayments should also keep this in mind-

Whenever the loan is repaid, the loan holder (loan holder's rights) should ensure that they take NOC from the bank and get their CIBIL score updated. If you have taken a loan (Collateral Loan) by mortgaging any property or valuable thing, then take your documents.

Let us tell you that the range of the CIBIL score is from 300 to 900. A 750 CIBIL score (cibil score for loan) is a must to get a loan easily. The closer it is to 900, the more the bank customer benefits.

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.