The minimum credit score required for a loan in India is not fixed by law but varies depending on the lender’s policies, the type of loan, and the credit bureau used. However, here are some general guidelines: Typical Minimum Credit Score Ranges for Loans: 1. Personal Loans and Credit Cards: Most banks and NBFCs look for a credit score of around 750 or above. Scores below 700 may face difficulty getting approval or may be offered higher interest rates. 2. Home Loans: Lenders usually require a credit score of 700 to 750 or higher. A higher score improves the chances of approval and better loan terms. 3. Auto Loans: Minimum credit score required is often around 700. 4. Business Loans: Depends on lender; many prefer a score of 700+, but some specialized lenders may accept lower scores with additional collateral or documentation. What Does the Credit Score Indicate? Above 750: Excellent creditworthiness; higher chance of loan approval at favorable interest rates. 700-750: Good score; likely to get loans but terms may vary. 650-700: Fair; approval possible but with higher interest rates and stricter scrutiny. Below 650: Considered risky; loan approval difficult unless with a guarantor or collateral. Important: Different lenders use different credit bureaus (CIBIL, Experian, Equifax, CRIF High Mark), so the minimum score may vary slightly. Other factors like income, employment stability, debt-to-income ratio also influence loan approval. Conclusion: Generally, a credit score of 700-750 or above is considered the minimum to comfortably secure most types of loans in India. Scores below this range may not outright reject you but could lead to higher interest rates or additional requirements.