DILIP KUMAR CHEJARA (ARTICLE) (38 Points)
29 March 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(185018 Points)
Replied 29 March 2017
Yes, some banks provide preferential rates for high valued customers, having high cibil score.
CA. Sandeep Kumawat
(CA)
(341 Points)
Replied 29 March 2017
Lower CIBIL is sign of low profile in terms of repayment capacity or/and past behaviour in servicing debts.
Lower CIBIL leads to higher inherent risk of default, so in order to recover money at the earliest bank charges higher rate of interest.
in some cases Bank even can offer preferential rate to a lower CIBIL profile depending upon collateral security / or loan against term deposits / gold loan etc. where value of loan is protected by underlying deposit or asset. or employment status etc.
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