How your credit score is calculated
TransUnion CIBIL is the dominant credit bureau in India, with Experian, Equifax, and CRIF behind it. Your score (300 to 900) is built from your repayment history, credit utilization, length of credit history, mix of secured vs unsecured loans, and recent enquiries. A score above 750 is considered prime, you get the best rates. Below 700 and lenders start adding a risk premium or denying outright.
On a ₹50 lakh, 20-year home loan, the difference between a 750+ score (8.4%) and a 680 score (9.1%) is roughly ₹2,300 a month, or ~₹5.5 lakh over the loan's life. The score is a number; the savings are not.
Closing your oldest credit card to 'clean up'. You shorten your credit history and shrink your total credit limit, which raises utilization on the rest. Keep old cards open if there is no fee.
A 60-second lesson on this, with a worked drill in rupees, lives inside the Finlo app. Free, forever, on the basics.