New Delhi, April 26 -- Are you planning to take a home loan? In India a score of 700 or more is regarded as the minimum criterion expected to be met by the borrower with the lenders, with a marginal scope of approving loans even for people with lesser marks, depending on their holistic financial state.

The score, which usually ranges from 300 to 900 points, tests one's capability to pay debts. The significance of a credit score is that it indicates just how creditworthy an individual is.

The credit score is commonly referred to as a CIBIL score; however, it is also generated by several credit bureaus, including TransUnion CIBIL, Experian, Equifax, and CRIF Highmark. Lenders often assess applications using data from more than one bureau....