How frequently CIBIL score is updated?

 

To know about CIBIL update time, an individual must have to gather knowledge about what is CIBIL. CIBIL (Credit Information Bureau India Limited) is an agency of one of the credit bureaus,  that collects and maintains the data of borrowers (both individuals and companies)CIBIL score mainly ranges from 300 to 900 for individuals and 0 to 9 for commercial entities.

Every lending entity (Banks & NBFCs) reports the credit repaying history, and new credit records as well as old credit records for every borrower as a record, to maintain the database so that their credit eligibility can be checked whenever needed. 

The database of CIBIL update time to time so that their payment history can be recorded accordingly.

Now, talking about the CIBIL update time, CIBIL scores are typically updated every 30 to 45 days (depending upon the lending entity). 

This is because most lending entities (banks and NBFC), report the credit activity of their customers to CIBIL every month. 

Therefore, any changes in your credit report, such as new loans, payments, or credit utilization, will be reflected in your CIBIL score during this cycle.

However, the exact timing of when your score updates may vary slightly depending on when the lending entities report the data to CIBIL and when the CIBIL processes it.