7. I have successfully completed my user profile and received my credit score. What does my credit score mean? How does it affect the maximum amount that I would surely get approved on if I apply for loan?
Your initial credit score is our lending robot’s measure of your creditworthiness based on the information you have provided to us. Generally speaking, the higher your credit score, the better your creditworthiness. Your personalised credit score directly affects the maximum loan amount that you can apply for. Your maximum loan amount varies from loan product to loan product. Once you have submitted your application, our lending robot will process your request and analyse your borrower profile to make a loan decision.
Your credit score can change depending on the quality of data as analysed by our lending robot. It can also increase or decrease depending on your repayment track record for approved loans. Generally speaking, early or on-time repayment will improve your credit score, while late or delinquent repayments will decrease your credit score.