An excellent credit score of between 750 and 900 is regarded. The banks, NBFCs and other online lenders prefer such a loan score to candidates. You can be assured that you are qualifying for any credit product if you have such a credit score. This allows you to consider the range and importance of the credit score.
|
Credit Score Range |
Grade |
What it means? |
|
750 – 900 |
Excellent |
Eligible for low interest rates and higher approval chances. |
|
700 – 749 |
Good |
Can become eligible for better interest rates. |
|
650 – 699 |
Fair |
The options are limited, but credit approval is possible. |
|
600 – 649 |
Low |
Higher interest rates on loans and credit card approval could be harder. |
|
Below 600 |
Immediate Action Required |
Approval chances are very low. |
The table shows very clearly that a loan score of 750 or higher is considered a positive loan score that could help you take advantage of many loan opportunities.