Want to take a personal loan or apply for a credit card? If you’re willing to shell out some cash, consider CIBIL Market Place to shop for the best offer.
This Web-based platform (www.cibil.com/marketplace/) throws up the offers are available for credit cards, personal loan, home loan and loan against property. Loan types may eventually expand into other categories, such as auto loans or business loans. What differentiates this platform is that offer lists will be based on your CIBIL credit score. It therefore, gives you a better idea of your loan eligibility, which institutes are willing to offer you loans and at what interest rates. It also cuts down on the possibility of your application being rejected for lack of credit-worthiness.
After sifting through the offers, you can apply through the Market Place and the lender you selected will get in touch with you. But you can select only one offer per category. To access this facility, you need to buy your CIBIL TransUnion Score, costing around Rs 470. Access will be available for a period of two months.
The drawback, however, is that final sanction still lies with the lender, and the Market Place does not guarantee a successful application. Errors may also occur in your credit score itself, because of which you may not get the right loan opportunities.
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