How much cibil score required for home loan? Minimum Score Required
Looking for home loan and want to know how much cibil score is required to get it approval from bank & NBFC’s.
So the Answer is 575+ Cibil Score is required to get home loan from any reputed bank like SBI, HDFC Ltd, Bank of Baroda, Axis Bank, ICICI Bank, PNB, LIC Housing and Others.
Now question arise is why 650+ required in case of home loan, so the answer is because of secured loan nature of home loan. 650+ credit score is not that bad but the interest rate offered by bank to you is higher than 800+ credit score borrowers.
How much Interest Rates for Low CIBIL Score Home Loan Customers?
Mainly, Interest rates charged by banks on home loan are mostly same but sometime due to special offers / schemes banks charged different interest rates for different customers on the basis of there CIBIL Score. You can assume .25% difference on the basis of CIBIL Score.
Interest Rates for Home Loans on basis of CIBIL SCORE 2021
Banks | 800 + | 750 – 800 | 700 – 749 | Below 700 |
SBI Home Loan | 6.70% | 6.80% | 6.90% | 7.15% |
ICICI Bank Home Loan | 6.70% | 6.75% | 7.00% | 7.15% |
HDFC Ltd Home Loan | 6.70% | 6.75% | 7.00% | 7.25% |
Axis Bank Home Loan | 6.75% | 6.75% | 7.00% | 7.10% |
PNB Housing Finance Home Loan | 7.20% | 7.45% | 7.65% | 8.40% – 8.55% |
How to check your CIBIL score online for Home Loan
You can access your CIBIL score report online by visiting the official website of CIBIL or Our Free Service @ Deal4loans. On the website, you will find an application form which you will have to fill in with identifying details such as your name, date of birth, address, phone number, address proof, income and company name.
For Check your CIBIL Score for Free within 1 Minute @ THIS LINK (FREE CIBIL SCORE)
Question Answers or Most asked question on home loans Cibil
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Q: how to get home loan if cibil score is low?
Q: what is the ideal cibil score for home loan?