ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A high CIBIL score which is closer to 900, such as 750 and above reflects greater financial responsibility, and thus results in a lower interest rate. Car Loan Amount: A good repayment history may also allow you to avail a bigger car loan amount such as one with zero down payment i.e. 100% financing.

Detailed explanation-2: -Your 850 FICO® Score is nearly perfect and will be seen as a sign of near-flawless credit management. Your likelihood of defaulting on your bills will be considered extremely low, and you can expect lenders to offer you their best deals, including the lowest-available interest rates.

Detailed explanation-3: -Superprime: 781-850. 4.75%. 5.99%.

Detailed explanation-4: -A good CIBIL Score is a score between 700 to 900, which means the borrower has a higher chance of getting a higher loan amount at a low-interest rate.

Detailed explanation-5: -The FICO score is the most widely used score for auto loans. The score ranges from 300 to 850. The score is calculated based on credit mix, payment history, amount owed, average credit history and available credit.