Now check your CIBIL score in the app itself; Great opportunity to improve your credit health before taking a loan: – ..

Lucknow/New Delhi: State Bank of India (SBI) has made its digital platform YONO (You Only Need One) even more powerful. Now customers do not need to share their personal information on any third-party app or website to know their credit score. SBI has joined hands with TransUnion CIBIL, so you can now check your detailed credit report directly in your banking app.

What is the new feature and why is it special?

YONO app now has a dedicated ‘Credit Score’ Section has been added. It doesn’t just show a number, but helps you understand your financial situation in depth.

Detailed Credit Report: Complete information about your existing loans, credit cards and payment history.

Score Simulator: This is the most unique feature of this app. Through this you can see what effect your score will have if you take a new loan or pay your EMI on time.

Gamified Learning: Learning modules are provided to understand complex financial terms in an easy and entertaining way.

Why is CIBIL score important for you?

CIBIL Score 300 to 900 is a number between.

750+ Score: It is considered ‘excellent’. On this score, banks offer you loan at the lowest interest rate.

Loan Approval: Be it a home loan, car loan or personal loan – the first thing banks check is your CIBIL score.

Credit Card: With a good score, you can easily get high-limit credit cards.

How to check your score on YONO app? (Step-by-Step)

Login: Our SBI YONO Login to the app using username and MPIN.

Menu: Scroll down on the home screen or go to the menu ‘Service Request’ Select option.

CIBIL Score: here you ‘Check your CIBIL Score’ Option will appear, click on it.

Verification: Confirm some of your basic information. After this your score will appear on the screen.

Analysis: You can also download your full credit report.

Benefits of regular monitoring

Experts say that you should check your credit score at least once a month. This has two big advantages:

Identification of mistakes: Many times your score falls due to technical fault of the bank. By seeing the report you can get it rectified in time.

Fraud Protection: If someone has taken a loan in your name without your knowledge, it will be immediately reflected in your credit report.