What Is a Credit Score Simulator?

A credit score simulator is a tool that helps you predict how your credit score will be affected by various financial decisions.

It can be used to simulate the impact of your actions in the following scenarios:

Applying for a new loan

Making a late payment

Increasing your credit utilisation ratio

Paying off a debt

However, you must note that credit score simulators cannot predict your credit score always with 100% accuracy.

Here are some examples of how you can use a credit score simulator:

To see how a loan inquiry and new debt will affect your credit score.

To see how late payments will affect your credit score and how long it will take to recover.

To understand how different actions, such as debt repayment or making timely payments, will affect your credit score over time.

Shriram Finance offers a variety of financial products, including personal loans, two-wheeler loans, and gold loans, among others. If you are considering applying for a loan from Shriram Finance, you can use a credit score simulator to see how the loan inquiry and new debt will affect your credit score.