Paytm launches new feature, will know CIBIL Score in minutes/payment solutions...

Digital payments company Paytm has added a function to its app which enabled users to check their credit score. Users will be able to receive a detailed credit report via email, which will offer information on credit use and repayment history. 

What is a good for customer score in CIBIL?

Your CIBIL score, calculated based on your credit behavior as reflected in the 'Accounts' and 'Enquiries' section of your CIR, ranges between 300-900. A score above 700 is generally considered good.

Scores above 800 are considered high and you can easily ask for a lower rate on personal loans and credit cards. A good score for secured loans. However, for unsecured credit, the bank might investigate further (like social score) or impose slightly higher rates. ... Personal loans can be difficult to obtain from a bank.

CIBIL Credit Report : What is Credit score & How to check Credit score online

CIBIL Score:

What is CIBIL Score


 CIBIL Score is a consumer's credit score. It is a 3-digit numeric summary of a consumer's credit history and a reflection of the person's credit profile. Getty Images. By Sujata Ahlawat. In today's day and age, consumers turn to credit cards and loans to help them achieve their dreams and financial goals.

What is the purpose of CIBIL score?

The CIBIL score plays a very important role in Indian financial system because it helps home loan applicants secure credit quickly. The CIBIL score is a numeric figure that sums up the credit history of prospective home loan buyers and helps them to get their home loan applications approved.

How to check CIBIL score on Paytm app for free

Homegrown financial services platform Paytm on Thursday launched the facility to Check CIBIL score on the app for free. Users can also view their detailed credit report including active credit card and loan account details.

Further, users can compare their credit ratings with others on a city, state and national level. This entire process can be completed in three simple steps and takes less than a minute.

Here's how you can check your credit score in a minute on Paytm app

1. Open Paytm app on your smartphone and login

2. Tap on More icon on the home screen

3. Choose Free Credit Score option from the Featured section

4. Enter your PAN card number and date of birth (if required).

If you are a new user, the app will send you an OTP for verification.

Once done, you can now check your CIBIL or credit score for free using the app.
At this stage, you can also choose all loan & credit card account to access your CIBIL credit report along with the credit education section. 

That’s it! You can instantly view your credit score without paying any special charges and also read commonly asked questions. You can further select ‘All Loan & Credit Card Accounts’ to access your CIBIL Credit Report along with Credit Education section.

Paytm’s customers will also benefit from advice on how they can look to improve their credit score, thanks to the app.

Paytm, one of India’s leading payment platforms, set up a subsidiary in March 2017 called Paytm Financial Services.

Another company offering a similar credit score service is Alibaba, with Ant Financial’s Sesame Credit allowing SMEs and private customers to access similar information. Sesame launched in 2015 and as such, Paytm is keen to keep up with the Asian payments behemoth.

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