Banks use Credit Score to evaluate the potential risk posed
by landing the money to the customer and to analysis the numerical expression
of person’s credit file and credit information bureau limited has functioned as
credit information company that represent a summary of an individual’s credit
history. Shubhbank use credit score to determine who qualifies for a loan, at
what interest rate and what credit limits. The use of credit score prior to
grant loan is an implementation of a trusted system. The score ranges from 300
to 900, with 900 being the best score if the credit history is less than six
months then the score will be zero and individual with no credit history will
have a score of min use one. It is very difficult to get a loan with non
payment record from the lender.
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