Nearly 50% of Indian consumers have never checked their credit score, leaving themselves vulnerable to silent loan rejections and higher borrowing costs, according to a new nationwide study by ZET, India’s leading credit score building platform.

The report, titled “India’s Credit Score Awareness Gap: The Hidden Cost of Not Knowing”, surveyed over 1,000 respondents and drew insights from credit bureaus and financial planners. It found that myths, misconceptions, and limited financial literacy continue to keep millions excluded from affordable credit opportunities.

Key findings show that 1 in 2 Indians have never checked their score, while 30% faced loan or credit card rejections due to poor or absent scores. Worryingly, 58% were unsure if checking their own score lowers it, a persistent myth that discourages self-monitoring. The study also highlighted a gender divide, with men checking their scores more often, while women tend to underestimate their eligibility.

Speaking on the findings, Manish Shara, Co-founder & CEO of ZET, said:

“Credit scores decide who gets access to opportunity in India, yet for millions this number remains invisible or misunderstood. Our mission at ZET is to close this awareness gap and make credit access inclusive for the next 400 million Indians.”

Founded in 2019, ZET empowers users through its credit-building app and agent-led marketplace, partnering with over 60 financial institutions to drive financial inclusion.