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What is the Average CIBIL Score Update Time?
- Updated on: 25 Jun 2024
- Published on: 25 Jan 2024
Your CIBIL score update time relies on many factors, including your latest credit activities and the time lenders take to report your transactions to credit bureaus. Before applying for any type of credit, consider these crucial pointers:
Read on for a brief overview of why you need a good CIBIL score, when credit score is updated and more.
A credit score is a three-digit numerical representation of your credit behaviour varying between 300 and 900. To understand the importance of a good score, remember the cardinal rule:
When your score is optimal, your trustworthiness as a borrower increases. Apart from that, here are other benefits of maintaining a good score:
While most lenders prefer a score above 750, this criterion varies from one lender to another. Some financial institutions may sanction loans even if your score is around 700. Here’s a tabular view of the credit score range, with each rating signifying your borrowing capability:
| Score | Approval Probability |
|---|---|
| 750 – 900 | Very High |
| 700 – 749 | High |
| 699 – 650 | Average |
| 649 – 600 | Low |
| 599 – 300 | Very Low |
The frequency of your credit score getting updated depends on how often lenders share your credit information with the credit bureaus. The Credit Information Bureau India Limited, or CIBIL, gathers information from various lenders and credit issuers once a month to generate your CIBIL Score.
In such cases, a CIBIL score update time can vary between 30 and 45 days if there are no other discrepancies. In addition, credit bureaus update your score under two circumstances:
Also Read: Check Cibil Score With a Pan Card
There may be some rare instances when your score will not get updated even after the usual CIBIL score update time period of 45 days. In such conditions, contact your lender and ask them to forward the recent information on your repayment.
If this does not lead to any change in your score, you can raise a dispute on the TransUnion CIBIL website. Usually, CIBIL recommends waiting for 2 months before filing a dispute. Here are some other factors that may cause a delay in your credit score update:
Annually, you can get one free credit report with your score, for which you must follow these steps.
That’s all and you can review your CIBIL report and score instantly!
Following these steps, you can easily check when CIBIL score gets updated and apply for a personal loan online accordingly. However, even if you are new to credit, you can apply for an Instant Personal Loan to get up to ₹5 lakhs hassle free.
Fibe Credit Score Analyser helps you to compare your credit score against Fibe’s best borrowers and understand where you stand. You can get to know the impact of your credit behaviour easily and tips on actions that can help you boost your score.
Head to the Fibe App today and begin your journey for better credit health!
At Fibe, we rely on an alternative scoring mechanism to check your loan eligibility. Moreover, you also get to enjoy other hosts of benefits such as minimum documentation requirements, affordable interest rates, convenient tenure options and much more. Download our Personal Loan App or register on our website to get started today!
The timeline ranges between 30 days and 45 days. Remember, this time is based on when financial institutions submit your credit report to TransUnion CIBIL. So, knowing when does the CIBIL score get updated is crucial as it helps you apply for credit at the right time.
Frequent credit activities are one of the most common ways you can reduce your CIBIL score update time.
All you have to do is follow this process:
No, you’re the time taken for your score to get updated can range anywhere from 30 to 45 days. You can file for a dispute if your score update is due for more than 2 months.
