How can you improve your credit score?

Your credit score is a vital financial indicator used by lenders, including Shriram Finance, to assess your creditworthiness. It's a three-digit number ranging from 300 to 900, with 750 generally considered an excellent score.

To maintain or improve your credit score, follow these guidelines:

• Timely Payments: Pay your bills, including any Shriram Finance loan EMIs on time. Late payments can negatively affect your score.
• Credit Utilisation: Keep your credit card balances low and well below your credit limit. This demonstrates responsible credit management.
• Diverse Credit Mix: Having a mix of credit types, such as loans and credit cards, can be beneficial. It shows you can manage different financial obligations.
• Regularly Check Your Report: Review your credit report for errors and discrepancies. Shriram Finance and other lenders use this information for lending decisions.
• Avoid Frequent Credit Inquiries: Multiple hard inquiries in a short period can lower your score. Apply for credit only when necessary.
• Build Credit History: If you're new to credit, consider a Shriram Finance personal loan to start building a positive credit history.

Remember, a good credit score increases your eligibility for loans with Shriram Finance and helps you secure better terms and interest rates.