Kolkata tops India list on maximum borrowers in 35-year plus bracket: CIBIL
about credit profile of entities and there has been a shift in their credit extending behaviour.
"Earlier, banks used to give loans to borrowers with a score of around 600 out of 900 in the CIBIL profile rating, but now they prefer those with a rating of above 800. Sixty per cent of loans are given to people with 800 plus score," he said.
CIBIL data showed that auto loans were the most enquired product, contributing 20 per cent of all enquiries, followed by credit cards.
"The quarter-on-quarter trends on credit activity also revealed that for the first tome in Q4, 2012, credit cards and personal loans showed an increase in percent contribution to total credit applications indicating that the demand for unsecured loans is on a rise," he said.
CIBIL maintains credit information of more than 22 crore consumers and one lakh businesses. CIBIL score helps borrowers gauge their current financial position and improve their chances of acquiring a loan.
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