Check your Equifax credit score report for free, understand what impacts your creditworthiness as per RBI guidelines, and get personalized recommendations to improve it. A good credit score is your key to better home loan rates from SBI, HDFC, and ICICI, premium credit cards, and financial opportunities across India from metros to tier-2 cities.
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Equifax India
Your Equifax credit score is a three-digit number that represents your creditworthiness in the Indian banking system. As per RBI Circular DBR.No.CID.BC.60/20.16.056/2014-15, it's calculated based on your credit history from the last 36 months and plays a crucial role in loan approvals, interest rates, and credit limits offered by Indian financial institutions.
Credit scores typically range from 300 to 900, with higher scores indicating better creditworthiness:
Your credit score impacts many aspects of your financial life in India:
Your credit score is calculated based on several factors:
Your track record of paying EMIs and credit card bills on time as reported to RBI regulated bureaus
How much of your available credit limit you're using (ideally below 30% as per RBI guidelines)
How long you've been using credit (Indian bureaus maintain data for 36 months)
Types of credit accounts you have
Recent applications for credit
MoneyKarma offers a suite of powerful tools designed specifically for Indian consumers to help you understand, monitor, and improve your Equifax credit score - all at no cost to you, with data protection compliant with Indian regulations.
Access your Equifax credit score and detailed reports absolutely free, with no hidden charges or trial periods. Updated monthly as per RBI reporting cycles to help you track changes.
Continuous monitoring of your credit report with instant alerts via SMS and email for important changes that could affect your score or indicate potential fraud, with Aadhaar-based verification for enhanced security.
Try our interactive simulator to see how different financial decisions might affect your Equifax credit score before taking real-world actions in the Indian credit market.
Receive tailored advice based on your unique credit profile in the Indian banking system to help you improve your Equifax credit score and achieve your financial goals with strategies that work specifically in the Indian credit market.
Get matched with financial products from top Indian banks and NBFCs suited to your credit profile, with real approval odds based on actual lending criteria of Indian financial institutions to help you apply with confidence.
Access our comprehensive library of articles, guides, and tools specially designed for the Indian credit system to enhance your understanding of Equifax, RBI guidelines, and personal finance in the Indian context.
Our interactive simulator allows you to see how different financial decisions might impact your Equifax credit score before taking action in the real world. Specially calibrated for the Indian credit system and banking practices.
See how reducing your credit card balances from ₹90,000 to ₹30,000 on a ₹3 lakh limit can improve your utilization ratio from 30% to 10% and boost your Equifax score by up to 30 points.
Understand how applying for a new home loan from SBI or a credit card from HDFC might temporarily affect your score by 5-10 points due to hard inquiries as per Equifax credit reporting practices.
Discover if closing your oldest SBI credit card account could impact your credit age and utilization ratio in the Equifax scoring system, potentially reducing your score by 15-20 points.
See how getting current on past-due loan EMIs or credit card payments can help improve your payment history factor in Equifax, potentially adding 20-40 points to your score within 3-6 months.
See the dramatic difference a good Equifax credit score can make on the interest rates offered by Indian banks and how many lakhs of rupees it can save you over the loan tenure. Based on actual rates from leading Indian financial institutions as of 2025.
| Credit Score Range | Home Loan Rate | Personal Loan Rate | Auto Loan Rate | Credit Card APR |
|---|---|---|---|---|
|
800-900 (Excellent) - Top 5% of Indians
|
7.25%
|
10.25%
|
5.50%
|
14.99%
|
|
750-799 (Very Good) - Top 15% of Indians
|
7.55%
|
11.75%
|
6.25%
|
17.99%
|
|
650-749 (Good) - Top 30% of Indians
|
8.15%
|
14.25%
|
7.75%
|
22.99%
|
|
550-649 (Fair) - Average range for Indians
|
9.25%
|
18.75%
|
9.50%
|
24.99%
|
|
300-549 (Poor) - Below average, 35% of Indians
|
10.50%+
|
25.00%+
|
12.00%+
|
29.99%+
|
For example: On a ₹50 lakh home loan in Mumbai with a 20-year term, improving your Equifax score from "Fair" to "Excellent" could save you approximately ₹21.7 lakhs over the life of the loan. In Delhi, the same improvement could save ₹20.3 lakhs, while in Bangalore it could save ₹22.1 lakhs.
Calculate your potential savingsReal Indians from across the country who transformed their financial lives by improving their Equifax credit scores with MoneyKarma's India-specific strategies
Increased my credit score by 120 points in Delhi
"After a divorce that left my finances in shambles, my Equifax credit score had dropped to 580. MoneyKarma's recommendations for Indian consumers helped me identify which accounts to focus on first and how to rebuild my credit responsibly. I learned about the importance of keeping my credit utilization under 30% as per RBI guidelines. In just 9 months, my score improved to 700, allowing me to qualify for an SBI home loan at 8.75% instead of the 10.25% I was initially offered. This saved me ₹3,600 on monthly EMI for my 2BHK in Dwarka. The credit monitoring alerts also helped me catch and resolve two errors on my report from an NBFC in Gurgaon that were dragging my score down."
Saved ₹6.3 lakhs on my Bangalore home loan
"I was about to apply for a home loan for my 3BHK in Electronic City with an Equifax credit score of 720, thinking it was good enough. MoneyKarma's simulator calibrated for Indian banks showed me that if I could boost my score just 30 more points, I'd qualify for significantly better rates from HDFC. I followed their India-specific advice for three months—paid down credit card debt from my Flipkart HDFC card, cleared a small outstanding personal loan with Bajaj Finserv, and fixed a reporting error with Axis Bank—and got my score to 760. This qualified me for a rate that was 0.85% lower than I would have received initially, saving me ₹6.3 lakhs over the life of my ₹65 lakh loan! The MoneyKarma team even helped me understand how to leverage my Bangalore IT professional status for special bank offers."
Your Equifax credit score is updated monthly on MoneyKarma, following the standard Indian credit bureau reporting cycle. Indian banks and financial institutions report to Equifax on a monthly basis as per RBI guidelines. We fetch the latest data around the same date each month, typically by the 7th. However, our credit monitoring service provides real-time alerts for significant changes to your credit profile, such as new accounts, inquiries from lenders in Delhi, Mumbai, Hyderabad, Bangalore, Pune or other cities, or large balance changes, which can happen at any time during the month.
No, checking your Equifax credit score on MoneyKarma does not hurt your score. When you check your own score through our platform, it's considered a "soft inquiry" (or "soft pull") as per Indian credit bureau regulations, which doesn't impact your score. Only "hard inquiries" (or "hard pulls") that occur when you apply for credit with banks like SBI, HDFC, or ICICI can temporarily lower your score by 3-5 points each. As per RBI guidelines, these hard inquiries remain on your credit report for 2 years but only impact your score for about 6 months. You can check your score as often as you'd like on MoneyKarma without any negative effect on your creditworthiness in the Indian banking system.
MoneyKarma provides actual Equifax credit scores that are identical to what Indian banks see when you apply for credit. This is the same score used by many Indian lenders for loan and credit card decisions. The Equifax score we provide is the exact same 3-digit number that Indian banks will see when evaluating your application. The information in your credit report is directly sourced from Equifax and is identical to what lenders see, including all your loan accounts, credit cards, and payment history from banks and NBFCs across India.
The timeline for improving your Equifax credit score in India varies based on your specific situation and the factors affecting your score. In the Indian credit system, some changes like reducing credit card balances can impact your score within 30-45 days when the bank reports to Equifax at the next monthly cycle. Resolving errors on your report through the Indian dispute resolution process might show results in 30-60 days as per RBI timelines. More serious issues like late payments on EMIs (which remain on your report for 36 months in India), collections, or loan defaults take longer to overcome—typically 12-24 months of positive credit behavior. For serious delinquencies reported to Equifax, improvement may take 24-36 months as per Indian credit bureau data retention policies. Our India-specific recommendations prioritize actions that will have the quickest and most significant impact on your Equifax score based on how Indian lenders report to Equifax.
If you find errors on your Equifax report, MoneyKarma provides guidance on how to dispute them directly with Equifax following the RBI-mandated dispute resolution process. While we don't file disputes on your behalf, our platform offers step-by-step instructions and template letters in both English and Hindi that you can use to contest inaccurate information with Equifax. Equifax allows you to file disputes online through their portal, or via email with your Aadhaar and PAN verification. After a dispute is filed, Equifax investigates within 30 days as per RBI regulations and removes the information if the bank or NBFC cannot verify it. You can also approach the banking ombudsman if Equifax does not resolve your dispute satisfactorily. Our credit monitoring service will alert you when changes are made to your report as a result of successful disputes with Equifax.
Yes, MoneyKarma's Equifax credit score service is completely free for all Indian consumers with no hidden charges, trial periods, or credit card requirements. While Equifax itself charges for a single report, we're able to offer this service at no cost because we receive compensation from financial partners like SBI, HDFC, ICICI, and other Indian banks when users choose their products through our marketplace. This follows the RBI's financial inclusion initiatives to promote credit awareness among Indian consumers. However, we maintain strict editorial independence as per Indian advertising and consumer protection regulations, and our recommendations are always based on what's best for your financial situation, not on partner relationships. Our business model allows us to provide these valuable services while keeping them free for all Indians from metros to tier-3 cities.