Paytm will now offer the facility to check the CIBIL score on the app. Users will be able to view their detailed credit reports including active credit card and loan account details for free. Additionally, one will also be able to compare their credit ratings with others on a city, state, and national level.
CIBIL or credit score is like your financial report card. A CIBIL score is a three-digit number that ranges from 300 to 900 and represents an individual’s creditworthiness. A higher CIBIL score suggests good credit history and responsible repayment behavior. Also, it improves the chances of your loan’s approval and ensures faster processing of your application. The digital platform claims that the entire process can be completed in 3 steps, within a minute.
Paytm also offers a special Credit Education section where one can access information such as ‘how to improve their CIBIL score’, ‘interpret their credit report’, ‘required checklist for a loan application’, ‘the importance of having a good CIBIL score for availing a loan’, etc.
Here’s how you can check your CIBIL score on the Paytm app:
– Login to the Paytm app and tap on ‘show more’ icon on the home screen
– Select ‘free credit score’ in the featured section
– Enter your PAN Card number and date of birth (if required). If you are a new user, you will receive an OTP for verification of your profile.
With that, you can instantly view your credit score without any additional charges. You can further select ‘All Loan and Credit Card Accounts’ to access your CIBIL Credit Report along with the Credit Education section.