When does cibil score gets updated?

When does cibil score gets updated? Knowing this would be necessary for those who want to increase their CIBIL score to get a loan quickly. When a person applies for a loan in the bank, the loan process starts only after checking the CIBIL score there.

The bank takes your CIBIL score as your credit history and checks whether you have repaid the old loan on time.

If you have a good CIBIL score, the loan is quickly approved. And if the CIBIL score is poor, then the loan is not available, and even if the loan is passed, more interest has to be paid on it.
If your CIBIL score is poor, there is no need to panic; it can also be corrected.

It is worth noting that, even if you do everything right from your side, all the banks will get your score bad until your information is not updated. That’s why you need to know When does cibil score gets updated, and today you will get the correct information in this article.

When does cibil score gets updated

When does cibil score gets updated

I met many people and researched on the CIBIL website to get correct information about When does cibil score gets updated.

I have come to some conclusions that I am putting before you know what CIBIL himself answers to this.

As of credit information companies (regulation) act 2005, CIBIL cannot make any changes to its data on its behalf unless a report is sent to it by the bank or other financial institution. CIBIL also informs that the bank takes 30 to 45 days to deliver its report to CIBIL.

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This way, we can know that it takes more than 45 days to get updated if you have done any credit behavior today.

Now we can say that the CIBIL score is updated after 45 days. Apart from this, if the bank sends its report late, it may take 45 to 60 days or more for the CIBIL score to be updated.

Apart from all these things, it also depends on the bank that how much time they take for your report. Here it is meant to say that the CIBIL of the bank can be updated within a month. So it may happen that there is no update even after 60 days.

Sometimes there can be a mistake in making the report from the side of the bank as well, due to which the person applying for the loan has to bear the brunt.

So it becomes your responsibility too, keep checking your credit and if you see any shortcoming, inform the bank about it.

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