Do you know what credit score is required to rent an apartment in UAE? Check your AECB Credit score in UAE and apply for a apartment in UAE.
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AECB Credit Score is linked to a unique mobile number
A credit score is a three-digit number that depicts your credibility in terms of paying off loans and debts. This score ranges between 300 and 900. The higher the score the higher the possibilities of your next loan getting approved. This score is computed using statistical models that use several data points from your credit profile.
|Check your AECB Credit Score|
Since the financial institutions rely on the credit score provided by AECB, they tend to miss out on the credit history of at least 30% of the individuals and corporates. It is so because according to the previous parameters, 30% of the people and companies could not be scored as they did not have any borrowing history. The credit history included only banking obligations while many companies and individuals created a credit history by paying off loans they took from non-banking institutions. It led to AECB creating an enhanced credit scoring model that uses other data for calculating the credit scores for people and organisations with negligible credit history.
The alternative way to be used will look into the loan seeker’s cheque clearance history, monthly payslips, monthly water and electricity bill payment history, and history of paying telecommunications bills. This new model will be more inclusive and cover more individuals and corporations in the UAE.
The corporates and the people who purchase the credit score report via AECB’s website or mobile application will be able to see the credit score.
Al Etihad Credit Bureau is the only organisation in the UAE that maintains the credit registry to calculate credit scores and create reports. A credit score is a three-digit number that helps a banking institution know if the potential loan seeker will be able to pay the instalments in due time.
However, AECB has changed its model that used only conventional credit history from the banking institutions while missing out on about 30% of the people and the companies. The new model will include the history of
It will make the credit score calculation model more inclusive. Individuals and corporates can download the credit report from AECB’s website, official mobile application, or the customer centres to view their credit score.
To check your credit score for free, you can visit our credit score section.
|Credit Score for different types of Loan|
|Credit Score for Personal Loan||Credit Score for House Loan|