Google Pay, the popular Unified Payments Interface (UPI) app by Google, has introduced a new feature that allows users to check their creditworthiness through their credit score, also known as the CIBIL score. This feature enables users to access their credit report, receive valuable insights, and make informed decisions about their financial health.
A CIBIL score is a three-digit number ranging from 300 to 900, reflecting an individual's creditworthiness. It is calculated based on their credit history, which includes information about credit accounts, payment history, and inquiries. Google Pay's user-friendly interface makes accessing the CIBIL score a seamless process. Users can obtain their credit report for free, empowering them with valuable financial insights and credit management recommendations.
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Steps to Check CIBIL Score on Google Pay:
- Open the Google Pay app on your phone.
- Tap on the "Manage your money" tab.
- Scroll down and select "Check your CIBIL score for free."
- Enter your first name and last name as they appear on your PAN card.
- Tap "Continue" to proceed.
- To verify your identity, enter your mobile number or email address.
- Once your identity is verified, your CIBIL score will be displayed.
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By regularly monitoring their CIBIL score through Google Pay, users can stay informed about their creditworthiness and financial standing. This knowledge empowers them to take proactive measures to improve their credit health, such as paying bills on time and maintaining a healthy credit mix.
Lenders rely on CIBIL scores to assess an individual's creditworthiness before approving loan applications. A higher CIBIL score enhances the chances of loan approval and often leads to more favorable interest rates.
