-
Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.
Messed up cibil score.
- Thread starter shash5252
- Start date
then chill.. give it time.. if u don't have any.. you can easily wait it out...
Any specific reason for searching only HDFC cards?
You can get IDFC First Wow or OneCard with FD. These cards are lifetime free.
Ek mahine ka nahi hai wo. It's one-time processing fee. It's higher than others though.
Riya
TF Legend
As per new CIBIL criteria, they also take into consideration in how much time you repaid the defaulted loan... If you have done it asap then the score might adjust to Okayish level but forget 700 for now because I have perfect repayment history and my 790 score hasn't budged for an year....
That's why loan is a double edged sword...
Processing fee remains the same if you take it for 1 month or 12 month. So you should not refer it as 1 month's fee. It's flat 4% one-time then intrest alag se. Not 4% per month.
Ek baar dobara dhyan se dekho beta.
By the way RBL charging 8,050 Processing Fee for a 3.22 Lack Rupee loan. Which is only 2.5% significantly low compared to Slice.
You can consider Navi. They have zero processing fees & zero force closure charges.
True 💯 He already repaid the loan but didn't mentioned the number of late payments reported to CIBIL & the number of days it's been delayed.
To start with,
1) The issue is not with Slice or your friend.. In your credit report , Delayed payment was reported.. thats it..
Now, remedy..
we can't do anything about the past and it will be there in your report and will have its weightage at least until 3 years to come.
But this weightage will gradually decrease as the time passes..
so dont worry.. your score will recover , if it is a one off delayed payment ONLY ... slowly but steadily...
If you have some more credit accounts, then the recovery will be faster.. nonetheless your score will recover on its own without any other accounts also..
Last edited:
For a better advice, pls attach your complete cibil report here hiding sensitive data...
YES . . becuase he already got an account ... which ages day by day .. and that contributes to the score positively ...
Last edited:
If you can afford there are two practical thing to do
1- Get 5-10k fd credit card ( u won't close it atleast in future.
For 2-10k take idfc wow card
Or 50k-100k icici plat chip card ( recommended ) both as per appetite
2- buy cibil subscription ( if u can afford totally optional )
With crystal 🔮 ball here are few things
1 - if closed the bad loan remark.
Cibil will be back to 700+
For 750 it would take 2-3 month..
What is your other cibil profile/ other loan added
True 💯 Once, I was in a similar situation. I paid the loan EMI by withdrawing the same amount from one of my credit cards using Slice Wallet, and informed my friend about the charges incurred.
Processing fee depends on the loan amount, at times. When the loan gets bigger, the processing fee gets lower.
For micro loans, such as provided by SFBs and NBFCs, the processing fee is usually higher.
Loans by banks are usually on the higher side / amount. So, they charge less as processing fee. Axis used to offer me personal loans with a processing fee of 2%. Don't know the current fee.
If you want to apply, try to apply from branch and ask if cibil inquiry can be avoided / or suppressed later. (yes they do even for secured card)
Hdfc might upgrade your card in future (1 yr later depending on amb maintained and score).
If you are looking for secured card- axis, idfc, hdfc, indusind, icici, sbi provides
icici branches are few compared to axis or hdfc, idfc has even lesser.
indusind fd starts from 80k
axis at 25k~35k depending on branch
sbi at 25k
choose bank which ever you operate! Try to avoid online application for now.
shash5252
TF Select
My primary account is with HDFC.
I can open accounts with other banks if necessary.
Similar threads
- Question
- Question
- Question