Credit
Hard Inquiry
pronounced: [H-a-r-d- -I-n-q-u-i-r-y]
A credit inquiry made by a lender when evaluating a loan or credit card application.
It temporarily lowers the credit score by a few points and remains on the credit report for up to 2 years.
Key Facts
| Fact | Value |
|---|---|
| Tenure | 2 years |
| Maximum Limit | ₹2 |
Example
Ravi applies for a home loan. His CIBIL score is 720 — considered "fair". With a score above 750, he would get a loan at 8.5% p.a. Instead, the bank offers 9% p.a. A 20-year ₹50 lakh loan at 9% costs ₹44,986/month vs ₹40,680/month at 8.5% — ₹4,306 more every month.
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Last updated: 21 May 2026