If you’re looking to buy a property with the help of a loan, then you must know that your credit score will play an important role in the loan application process. A good credit score (ideally 690+) will ensure that your loan is sanctioned without any hassle and you get a decent rate of interest and a favorable term as well.

It doesn’t matter if you’re looking for a commercial property or a residential one, a good credit score will take a long way!

But before that, let’s answer some of the frequently asked questions about Credit Score

Who records your credit score?

Your credit score is recorded by CIBIL – commonly known as the Credit Bureau.

Which are the factors affecting your credit score?

1-Payment History

Your payment history includes all your debts and bill payments. It covers how you’ve paid them, whether you paid them on-time or if you were late.

2-Duration of your credit history

This one simply means how long you have been using credit for your purchases.

3-Amount of credit money owed

Even the size of the credit is a significant factor in determining your credit score.

4-No. of credit cards and the credit limit for each

Yes, that’s true! Having multiple credit cards also affects your credit score.

How much is a good credit score?

The CIBIL credit score ranges from 300 and 850. Anything above 699 is considered as an excellent score.

How can I find out my credit score?

If you want to find out your exact credit score, you can log on to www.cibil.com and apply for it. It requires a small fee.

Note: Keep in mind that a higher credit score will also help you get a more extended repayment period and also increase the loan amount.

Once you’ve got your credit score in hand, you can start approaching different banks for the loan application process. Having a ready credit score will expedite the process.

That was about the credit score, but there’s a similar rating that you as a property-buyer must be aware of – this is the CRISIL rating, and it’s meant for Developer.

It is an all-round verification of the quality of the credit and business transparency of the company. So just like the bank would check your credit score, you as a property buyer, can check the CRISIL rating/certification of the property, because you must settle only for the best.

You should also know that VB Ventures has been verified by CRISIL which means that the developer adheres to the highest quality standards in the real estate industry when it comes to credit and transparency. It also points towards a proven track record and an estimation of strong long-term growth. All these features make VB Ventures one of the premium developer in Pune.

To know more about CRISIL visit www.crisil.com

So there you go! Hope that answers most of your queries. If you are looking for a commercial office for sale in Shivajinagar or commercial spaces for sale in Bhosale Nagar, then explore VB Capitol – a premium commercial property in one of Pune’s most important business hubs. Its magnificent P+11 tower is equipped with a top-of-the-line business amenities. You can make your purchases by choosing the flexible loan schemes by ICICI Bank.

To know more, visit www.vbventures.in