How to Calculate Your CIBIL Score and Improve Your Creditworthiness in 2023

Calculating your CIBIL score

In today’s financial landscape, maintaining a healthy credit score is crucial for individuals seeking access to loans or credit cards. The Credit Information Bureau (India) Limited, commonly known as CIBIL, plays a pivotal role in assessing an individual’s creditworthiness. A good CIBIL score not only determines the approval of credit applications but also influences the interest rates offered. Therefore, it becomes imperative for individuals to understand how to calculate CIBIL score and take the necessary steps to improve it.

Step-by-Step Guide to check CIBIL Score

Calculating your CIBIL score involves a comprehensive assessment of various factors, including your credit history, repayment patterns, outstanding debts, credit utilization ratio, and credit mix. CIBIL considers these factors in determining your creditworthiness on a scale ranging from 300 to 900, with a higher score indicating a lower credit risk. To understand how to check CIBIL score online or how to calculate CIBIL score online, follow the steps below: 

  • Visit the Bajaj Finserv official website to check CIBIL score online. 
  • Search for the “Check Your CIBIL Score” section.
  • Click on the “Check Score” link.
  • Enter your mobile number to receive a One Time Password (OTP).
  • Enter an OTP to verify your mobile number and click the “Submit” button.
  • Fill out the form with your name, date of birth, PAN card number, and other required details.
  • Accept the terms and conditions to check CIBIL score.
  • Click “Submit” again to complete the CIBIL score online process.
  • After submitting, your CIBIL score and report will be displayed on the screen. 

Important factors to Consider to Improve Your Creditworthiness in 2023

Timely Payment of Bills and EMI

One of the most critical factors affecting your CIBIL score is your payment history. Ensure you pay your bills, EMIs, and credit card dues on time. Late payments can impact your credit score, so setting up automatic payments or reminders can help you stay on track.

Maintain a Low Credit Utilization Ratio

Credit utilization ratio represents the portion of your available credit that you are presently utilizing. To improve your CIBIL score, it’s advisable to keep your credit utilization below 30% and check CIBIL score regularly. High credit utilization indicates a dependency on credit and can negatively affect your creditworthiness.

Diversify Your Credit Mix

Having a mix of credit types, such as credit cards, loans, and mortgages, can positively impact your CIBIL score. Lenders perceive individuals with a diverse credit portfolio as more responsible and less risky. However, it is important to manage your credit responsibly and avoid taking on excessive debt.

Limit Credit Inquiries

Every time you apply for credit, it triggers a credit inquiry recorded on your credit report. Multiple credit inquiries within a short period can indicate a higher credit risk to lenders. Therefore, limiting the number of credit inquiries you make is crucial, especially when actively seeking new credit.

Maintain a Healthy Credit History

Building a strong credit history takes time and responsible credit management. It’s important to check CIBIL score regularly and maintain a consistent record of timely payments, avoid defaults or late payments, and keep your credit accounts active. A longer credit history demonstrates your ability to handle credit responsibly and positively impacts your CIBIL score.

Reduce Outstanding Debts

High outstanding debts can adversely affect your CIBIL score. It’s recommended to pay off outstanding balances as much as possible. Consider creating a repayment plan and prioritizing debts with high-interest rates to reduce your debt burden and improve your creditworthiness.

Regularly Monitor Your CIBIL Score

Once you’ve implemented the necessary measures to improve your creditworthiness, check CIBIL score regularly on reliable platform such as Bajaj Finserv Credit Pass. By closely monitoring your score, you can track your progress and identify areas that require further attention. Several online platforms provide access to free credit score monitoring services, but Bajaj Finserv Credit Pass is one of the best trustworthy platforms to check CIBIL score online and it enable you to stay informed about any changes or updates in your credit report.

Practice Financial Discipline

It is important to adopt overall financial discipline to improve your creditworthiness. This includes budgeting effectively, avoiding unnecessary expenses, and saving for emergencies. Maintaining a strong financial foundation enhances your creditworthiness and increases your chances of obtaining favorable credit terms.


In a credit-driven society, understanding how to calculate CIBIL score and improve your creditworthiness is crucial. By checking your CIBIL score regularly, analyzing your credit report, making timely payments, maintaining a low credit utilization ratio, diversifying your credit mix, and practicing financial discipline, you can boost your creditworthiness over time. Remember that building and maintaining a good credit score requires consistency, patience, and responsible financial habits. By taking control of your credit and implementing these strategies, you can pave the way to a stronger financial future. So, stay proactive, check CIBIL score online on Bajaj Finserv Credit Pass, and make informed decisions to achieve your financial goals.

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