Axis Max Life Savings Plans

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Written byAbhishek Chakravartiverification-badge
Taxation & Finance Writer
Published 26th November 2025
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Reviewed byAlok Mishraverification-badge
Last Modified 2nd July 2026
Taxation & Finance Expert
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Tax Savings Plans 2026

Tax Benefit in Investment Plans

up to 1.5 Lakh

under IT section

80C

Tax Regime

Old

Save Tax up to 46,800## Annually

Smart Term Plan Plus

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Pay ₹876/M@8

Get ₹2 Cr. Cover

Save Tax u/s 80C

Capital Guarantee Solution

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Up to 17.3% Return%^

Inbuilt Life Cover

Save Tax up to 46,800##Annually

Smart Term Plan Plus

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Pay ₹578/M@7

Get ₹1 Cr. Cover

₹11.84 Lakh*1 Tax-free Returns

Axis Max Life ULIP Plans

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Free Fund Switching

High Growth Fund: 20.39%^~

What is CIBIL Credit Score?

The CIBIL Score is a three-digit numerical representation of your credit history. The credit history in an individual’s credit report such as outstanding debt, credit utilisation ratio, repayment history, etc. is used to calculate the CIBIL score. A credit payment history across different types of loans and credit card debt over time is referred to as a Credit Information Report (CIR). Details of savings, investments, and fixed deposits are not part of your CIR, so do not impact your CIBIL score.

Credit cards and loans are used by people today to help them realize their objectives and financial goals. One of the most significant factors and measures in obtaining this much-needed credit is the CIBIL Score.

What is the Full Form of CIBIL?

The full form of CIBIL is Credit Information Bureau (India) Limited, which is an accredited credit agency by the Reserve Bank of India (RBI) that calculates an individual's credit score. CIBIL or CIBIL TransUnion is India’s oldest credit bureau and helps prospective lenders determine an individual’s creditworthiness by compiling the CIBIL credit report and uses the data to calculate the CIBIL score. Lending institutions periodically report the status of outstanding loans and credit cards of borrowers which are used by CIBIL to generate the credit report and CIBIL score of individuals in India. CIBIL Score is currently one of the key factors that determine whether a prospective borrower’s loan or credit card application will be approved or rejected.

How is CIBIL score calculated?

Almost no loan or credit card application is granted these days without a review of the applicant's CIBIL report and CIBIL credit Score. If you have ever wondered what is a CIBIL score and how it is determined, here’s your answer.

1. Obtaining Necessary Information

The CIBIL credit score is calculated using information from the CIBIL Report's 'Accounts' and 'Enquiries' sections, which includes (but is not limited to) loan accounts or credit cards, payment statuses, outstanding amounts, and days past due.

2. Assessing Past Records

A person's past conduct is used to predict his or her future actions, and the CIBIL Score demonstrates a consumer's credit worthiness. When a person applies for a credit card or a loan, for example, one of the crucial variables that lenders consider is the person's credit profile, as represented by the CIBIL Score.

3. Evaluating Loan Payment Habits

While each credit information company including CIBIL TransUnion has its own proprietary algorithm for calculating an individual's credit score, the loan repayment habit i.e. timely payment of past loan EMIs and credit card dues is a key factor in this calculation.

Steps to Get Your Free CIBIL Score

Checking your CIBIL score doesn’t demand any monetary investment; you can check it for free. Here’s how:

  • Scroll up to the CIBIL score calculator on this page
  • Enter the required details such as gender, name, date of birth, mobile number, PAN, pin code, email address etc.
  • Click on the button – ‘Get Free Credit Report’
  • On the next screen you will be able to view your credit score

CIBIL Credit Score Range and What It Means

An individual’s CIBIL score can range between 300 and 900, with the highest score being 900. Individuals having a CIBIL score of 750 or higher are generally regarded as responsible borrowers. The various CIBIL score ranges are shown below:

  • NA/NH: Your CIBIL score will be NA/NH if you have no credit history, which indicates it is either "not applicable" or "no history." You will have no credit history if you have never used a credit card or taken out a loan or if you have been approved for a credit card/loan within the past 3 to 6 months. If your CIBIL score is designated as NA/NH, you should consider building creditworthiness because it can help you get access to credit cards and loans in the future.
  • 350–549: A CIBIL score in this range is deemed poor. It signifies you haven't paid your credit card payments or loan EMIs on time. With a CIBIL score in this range, getting a loan will be tough.
  • 550 – 649: In this range, a CIBIL score is deemed fair. However, because this is still not the best CIBIL score range, only a few lenders will consider giving you credit. It implies that you have been having difficulty paying your bills on time. The loan's interest rates may potentially be higher. You must take deliberate steps to raise your CIBIL score even higher in order to qualify for better loan terms.
  • 650 – 749: If your credit score is in the 650-749 range, it is considered as good. This shows that you have managed your past credit card debt and outstanding loans judiciously for the most part. Prospective lenders will thus consider you to be a relatively low risk borrower. This means you will be able to get approval for new loans and credit cards with relative ease. However, do take a closer look at the factors that are causing your credit score to be lower than the ideal CIBIL score of 750 and higher. If you are able to identify and solve for such factors, your CIBIL credit score can easily increase with a relatively short time.
  • 750 – 900: Having your credit score is in the 750-900 range is ideal. This shows that you have managed your credit effectively in the past and will be considered as someone with high creditworthiness by prospective lenders. You are ideally placed to negotiate favourable terms like higher loan amount/credit card limit, lower interest rates, etc. when you apply for a new loan or credit card.

Benefits of Maintaining a Strong CIBIL Score

A strong CIBIL score is considered essential to assess the creditworthiness and financial discipline of borrowers. It helps in the easier and faster approval of loans and credit cards. Lenders rely on credit scores to assess the loan repayment capability of borrowers. Maintaining a strong credit score helps borrowers to secure better borrowing opportunities.

Higher Chances of Loan Approval

A high CIBIL score indicates that you have been responsible with your credit over the years. Lenders see such borrowers as low-risk individuals, and so you have higher chances of getting the loan approved. You are also less likely to have your application denied. It can be important if you are applying for a home loan, car loan, or personal loan.

Access to Better Interest Rates

People with good credit profiles are offered better interest rates by the banks. A high CIBIL score indicates good repayment records. This further helps you to get better loan offers.

Faster Credit Card Approvals

Credit card issuers use your CIBIL score to evaluate your loan or credit card application. A strong score can make the approval process smoother and quicker. It indicates that you are likely to manage credit responsibly. Some issuers may also require fewer checks before approving your loan or credit card application. This eventually helps you get access to credit cards or loans in the lowest time possible.

Eligibility for Higher Credit Limits

A good CIBIL score can make you eligible for higher credit limits. Lenders are usually more willing to grant higher credits to low-risk borrowers. The higher limits give you more financial flexibility when you need it. Higher limits also help you maintain a lower credit utilisation ratio and thus you have a better credit profile.

Improved Negotiating Power with Lenders

Borrowers with strong CIBIL scores often have greater bargaining power. Lenders may be willing to offer better terms to attract and retain them. They may also get credit at lower interest rates or with reduced processing charges applicable. In some cases, you may also receive more flexible repayment options. A good score gives you an advantage during credit negotiations.

Importance of a good CIBIL Score

In the loan application procedure, the CIBIL score is quite important. When someone applies for a loan at a bank or financial institution, the lender looks at the applicant's CIBIL score and report first. The bank may not even examine the application if the CIBIL score is poor. If the CIBIL score is high, the lender will investigate the application and take other factors into account to evaluate whether the applicant is creditworthy.

The CIBIL score serves as a first impression for lenders. The higher the score, the more likely the loan will be reviewed and authorized.

Tips to Improve Your CIBIL Score

Consistent credit management and responsible borrowing habits improve your CIBIL score. A higher credit score means a higher chance of getting loans at favourable terms. Below are some of the simple practices that can help in strengthening your credit profile.

Pay Bills on Time

To maintain a healthy CIBIL score, it is essential to pay credit card and loan EMIs on time. Do not miss any payments because missing a payment can negatively affect your credit history. You can set one or more reminders to avoid delays in payment of EMIs. Regular payments can help in maintaining financial discipline and stability.

Reduce Credit Utilisation

Credit utilisation refers to the amount of credit you use compared to your available credit limit. Using too much of your available credit may indicate financial stress. It is generally advisable to keep your credit utilisation below 30%. Lower utilisation reflects responsible credit behaviour. This can have a positive impact on your CIBIL score.

Monitor Your Credit Report

Regularly monitoring the credit card report helps in the estimation of the current credit standing. You should be aware of errors in a credit report because it may affect a credit score if left uncorrected. If there are any discrepancies in your credit report, proactively report them to the credit bureau to ensure accuracy in the credit profile.

Limit Loan Applications

Each loan or credit card application results in a hard inquiry on your credit report. Multiple enquiries within a short period negatively affect your credit score. Lenders may view frequent applications as a sign of higher credit dependence. Apply for credit only when necessary.

Maintain Old Accounts

A longer-standing credit account adds to your credit history. The longer your account has been open, the more of your repayment history CIBIL can examine. Keeping older credit accounts open helps in building a better CIBIL score. Closing one or more of your older credit accounts could lower your average credit history. Having older credit accounts in better standing helps your credit score.

Clear Outstanding Dues

Unpaid loan repayments and credit card balances can adversely affect your CIBIL score. Settlement of pending dues is a good way to show your financial responsibility. It also improves your repayment record in the long run. If there are multiple pending balances, get rid of the smallest one first.

Factors determining CIBIL score

The following elements affect the CIBIL score:

1. Repayment history

Banks and NBFCs look at an individual’s credit history i.e. how an individual has handled credit in the past as a predictor of future behaviour regarding handling of future loans and credit cards. Every time you take out a loan or take out credit, the lender is required by law to report it to CIBIL. The bank keeps track of whether or not you pay your bill on schedule. It is regarded as a favourable indicator if you make an effort to repay in advance. This demonstrates that you can be trusted to pay back what you owe. Missed payments or EMI defaults have a negative impact on your credit score.

2. Credit Balance & Utilization

The credit utilisation ratio is the percentage of credit an individual has used compared to the overall credit limit assigned to them. To maintain a healthy credit score, experts recommend keeping your credit utilisation below 30%. A high credit utilization limit suggests a growing debt burden over time, which might harm your credit score. Lenders are wary of debtors that use more than 50% of their available credit. For lenders, a large credit exposure signifies a higher credit risk.

3. Defaulting/Delinquency

Missing or defaulting on credit card bill payments on a regular basis will damage your CIBIL score. Why? Because your inability to pay your expenses will be revealed if you display payment delinquencies on your credit card debt.

4. Credit Mix

One of the most popular criteria used to compute credit scores is credit mix, or the diversity of your credit accounts.

Multiple credit accounts, such as a home loan, a personal loan, and a credit card, demonstrate to lenders that you can manage multiple types of debt at once. It also aids individuals in better comprehending their financial status and willingness to repay loans.

While having a less broad credit portfolio does not necessarily mean you will have lower credit ratings, the more credit kinds you have, the better (as long as you pay on time). Credit mix makes up 10% of your credit score and can help you achieve a good score.

5. Number of Credit Inquiries

The lender obtains your credit information from the available bureaus when you apply for a loan or a credit card. This is referred to as a "pull" or "hard" inquiry. If you apply for too many new loans or credit cards within a short period of time, your credit score may suffer.

A high number of recent hard inquiries on your credit report will have a negative impact on your credit score. Multiple hard inquiries indicate that you are in dire need of credit, making you a high-risk borrower. When your credit limit is increased, it may signal a rise in your credit burden, and your credit score will suffer as a result.

6. Duration of Credit History

Banks keep track of your credit history in great detail. From the first time you take out credit, potential lenders can get a full report on your credit history. A long and positive credit history boosts your credit score and makes it easier to obtain credit history.

To build a healthy credit score, you must have credit for a period of time. Your credit score is influenced by your oldest credit account. When you have a long credit history, creditors can be confident that you will manage your debt well, which boosts your credit score. Your credit score will be lowered if you close previous credit accounts. As a result, it is advisable to keep your old credit cards active with minimal transactions in order to preserve a high credit score.

What is considered a good CIBIL credit score?

As per the credit information company, a CIBIL score proximate to 900 is considered excellent. If your CIBIL score falls into this range, there is a higher probability that your loan application will get approved. However, a CIBIL score of 750 and above is also regarded as good.

 Reasons for Low CIBIL Credit Score

As previously established, a CIBIL score determines your creditworthiness to the lender. Therefore, you would be considered a high-risk borrower if you have a poor CIBIL score. Consequently, it is possible that most lenders might not approve your loan. Therefore, it’s essential to ensure that you have a good CIBIL score. But to do that, it’s vital you realise why you have a low CIBIL credit score. Here are a few reasons:

  • You don’t repay your loan EMIs or outstanding credit card dues on time, leading to poor credit repayment history.
  • You have a higher credit utilization. This can result when you frequently consume more than 30% of your credit limit.
  • You have an unhealthy mix of secured and unsecured loans. It’s recommended that you have a higher ratio of secured loans over unsecured loans. Secured loans would include home loans, or loans against property, while unsecured loans would include personal loans.
  • If several hard enquiries have been made.

What to do if your Credit Score is low?

A good credit score demonstrates that you are a responsible individual who has consistently met his or her financial responsibilities. If you have a strong credit score, lenders are more willing to lend you money because they see you as a solid investment. As a result, it's critical to have a positive credit history. The following are the most important considerations:

1. Make timely payments: Keep track of your payments. If you make a mistake and miss a payment, strive to make it up as soon as possible. Payments that are past due can have a significant negative influence on your credit score. Furthermore, paying the entire debt can save you money on interest.

2. Keep credit card balances low: Don't use up all of your credit card's allotted credit. Your credit score may suffer as a result of excessive use. As a result, maintaining your balance low can help you improve your score.

3. Keep unused credit cards open: Even if you don't use a credit card very often, you should keep it open because the longer your credit history is, the better.

4. Responsibly manage several credit cards: It's fine to have many credit cards as long as you make all of your payments on time.

Will Checking Your CIBIL Report Repeatedly Hamper Your Score

There are several misconceptions about the CIBIL score. One such misconception is that frequently checking your CIBIL report can affect your score for the worse. However, to brush that misconception aside, checking your CIBIL score is a healthy practice you must do at least once a year. These personal enquiries will be regarded as soft enquiries in the credit score jargon.

It is to be noted that credit enquiries do impact your CIBIL score. However, they are hard enquiries (not soft ones) made by lenders that negatively impact them. A lender will make these hard enquiries when you have filed multiple loan applications or are applying for new credit cards.

Therefore, your CIBIL score will not get adversely impacted if you are checking your own CIBIL score. But it will get adversely impacted if prospective lenders make the same enquiries, in response to new loan or credit card applications.

Why Do Lenders Check Your CIBIL Score Before Approving Your Loan

It’s a common practice for lenders to check your CIBIL score before they approve your loans. This is done for the following reasons:

To Check if you Meet their Loan Eligibility Requirements:

These eligibility requirements include the minimum credit score to become eligible to secure loans from lenders. For most lenders, it is 700-750 or above.

To Understand Your Experience with Credit:

This includes how often you have secured loans and how often you have paid your loans on time. In addition, a good credit experience highlights that you have managed your credit well in the past and lived a healthy financial lifestyle.

To Determine Your Debt Obligations:

Lenders check your debt obligations to establish your credit behaviour and check if you can conveniently manage additional payments (of loans).

To Check the Number of Enquiries:

New hard CIBIL enquiries affect your credit score for the worse. For example, a lender might check the number of enquiries to ascertain if you are a credit-hungry individual. Most lenders consider credit-hungry individuals as high-risk individuals who might default on payments.

To Extend Special Benefits:

Some lenders reward existing or new individuals with special offers and benefits if they consider them low-risk borrowers. This categorisation of borrowers can be established through the CIBIL score.

Difference between CIBIL report & CIBIL score

To help you understand what is a CIBIL report and what is a CIBIL score, we have mentioned the differences between them in the form of a table.

CriterionCIBIL SCORECIBIL REPORT
MeaningA CIBIL score is a numerical expression derived from credit data processing.CIBIL report is a comprehensive document containing all credit data including CIBIL score.
TenureA CIBIL Score is based on 24 months of your credit behaviour.A CIBIL Report includes 36 months of your credit history.
Category/TypesThere is only one CIBIL score which is a three-digit numeric summary of your CIBIL report.Two types of credit reports exist : Credit Information Report for individuals and CCR (Company Credit Report) for businesses.

How to read your CIBIL report?

The various sections of a CIBIL credit report provide precise information about your credit history and score. The following are the elements of a CIBIL report:

1. CIBIL Score

Your three-digit CIBIL score is based on your credit behaviour as stated in your CIBIL report's 'Accounts' and 'Enquiries' sections.

2. Personal Information

Your name, gender, date of birth, and identity numbers such as your PAN, passport number, and voter's number are all found in this area.

3. Contact Information

Your address and phone number are included in this box.

4. Employment Information

This section offers information about the members' monthly or annual earnings, as reported by the banks and financial institutions.

5. Account Information

This section contains information about your credit facilities, such as the name of the lending institution, the type of credit facilities (personal, home, overdraft, etc.), account numbers, the date the account was opened, the date the last payment was made, the loan amount, ownership information, the current balance, and a month-by-month payment history.

6. Enquiry Information

When you apply for a loan or a credit card, your CIBIL credit record will be accessed by the financial institution. The prospective lender's name, type of credit application (credit card or loan), amount of credit applied, and date of application are all given in the report.

Are Credit Report, Credit Score and Credit Rating the Same?

No, Credit Report is the not the same as Credit Score and Credit Rating. Let's see what these terms actually mean to understand how they differ from one another.

Credit Score

A three-digit score ranging from 300 to 900 is assigned based on loan repayment and credit card payment history over the previous three years. The CIBIL score is a three-digit figure, and the higher the score, the better your chances of securing a loan at a lower interest rate.

Credit Report

When you need to check over your financial history in detail, your credit report provides a thorough account of all your payments and credit lines. It does not, however, always show your credit score. Credit reports are usually several pages long and contain information organized by categories.

Credit Rating

Credit ratings are typically assigned to firms for loans obtained from banks, non-bank financial companies (NBFCs), institutions, or institutional investors in the form of loans or other forms of debt.

The ability of a borrower to repay both the principal and interest is determined by their credit rating. The business's historical loan and interest payback history are used to determine a good credit rating.

Credit ratings are usually expressed in symbols, and both individual and institutional investors can use them to evaluate how risky an investment is. The highest credit rating, AAA or A1, signifies a high level of safety in terms of principal and interest repayment. D is the lowest possible grade.

CIBIL Score:Log In & Registration Process

The most well-known credit reporting organization that banks and financial institutions rely on is CIBIL. Once you've registered and logged in to your account, you'll be able to see your credit score and report from CIBIL.

Here’s how you can register on the website:

  • Visit https://www.cibil.com/
  • Click on ‘Get Your CIBIL Score’.
  • Enter your personal details such as name, email address, government ID type, ID number, and mobile number in the first tab of the form, ‘Create your account’.
  • Click on ‘Accept & Continue’ to move to the second section of the form, ‘Verify your Identity’.
  • Once you complete the section, you can move on to the ‘Payment’ section to make payment for the subscription.
  • Upon payment, you are successfully registered with the site. Log in to your account to access the site’s features.
With your registered email address and password, go to www.cibil.com/cas/consumer/portal/login. After you've created a CIBIL account, you'll be able to access the 'myCIBIL' section. Once you enter your registered username and password in the respective fields, you can log into your account and access your credit report.

CIBIL Credit Score FAQ's

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ARN NO: PCP/CSC/050623

Source:

www.cibil.com/resources/docs/faqcs.pdf#page=3

www.cibil.com/blog/all-you-need-to-know-about-cibil-score?gclid=Cj0KCQiAw9qOBhC-ARIsAG-rdn57vl82ANmk6LCBEtbHydhgIoFu9ht43ZGU-HozH4p8s594INqjfLIaAraTEALw_wcB

www.cibil.com/faq/understand-your-credit-score-and-report

www.cibil.com/blog/cibil-score-vs-report

www.bajajfinservmarkets.in/credit-score/cibil-errors-and-how-to-resolve-them.html

www.tatacapital.com/blog/trends/how-to-remove-enquiry-from-cibil-report/

www.financejar.com/credit-cards/credit-score-for-credit-card/

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