CIBIL Report

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www.cibil.com

A CIBIL report is computed by TransUnion CIBIL, which is the first credit bureau in the country. The information about all your loans (home, auto, and personal), credit cards, bill payments, enquiries, and CIBIL scores are present in your CIBIL report.

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Components of a CIBIL Report:

A CIBIL report contains six main sections. Let’s learn about them in detail.

CIBIL Score: A CIBIL score is a 3-digit number that falls in the range of 300-900. It is calculated by the CIBIL credit bureau after taking into consideration factors such as credit history and repayment behavior. A CIBIL score in the range of 750-900 is considered as a good cibil score.A higher CIBIL score suggests you have high creditworthiness. It increases your chances of getting a good deal on loan interest rates as well as credit cards.

Personal Information: As the name suggests, this section contains your personal information such as name, date of birth, and unique identification numbers like PAN and Aadhaar. You need to make sure that the personal details are accurate in the report. These details are reported to the bureau by the bank.

Contact Information: This section will have your mobile number, telephone number, residential address, and email address.

Employment Information: This section of the CIBIL report contains your employment information. It will specify the type of your occupation such as salaried, professional, or business. It will also mention your monthly or annual income as reported by banks.

Account Information: This is the most important section of your CIBIL report as it contains records of your credit accounts. It will mention the loans and credit cards you have taken. The report will also mention the lenders’ names and loan amounts. The report will record your defaults, late payments, amount overdue, current balance, date opened, and date of last payment.

It contains a month-on-month record of your payments toward your loan EMIs as well as credit card bills for up to the last 3 years. You should ensure that the loan details reflected in the account are accurate. Discrepancies in your credit report can reduce your chances of getting loan approval.

Enquiry Information:This section records all the enquiries made by lenders in the past. An enquiry takes place when a lender pulls out your CIBIL report from the bureau to check your creditworthiness. The date and purpose of the enquiry is also mentioned in the report. The enquiry amount is also recorded in the report. It is advised to avoid making multiple credit enquiries in a short span of time as it may trigger hard enquiries from lenders, making you appear credit hungry.

Importance of a CIBIL report:

When you apply for a loan or a credit card, lenders will check your credit report to know your credit status. It will help them know if you have been a responsible borrower in the past. A CIBIL report that displays prompt payment behaviour, low number of credit inquiries, and good credit history will increase your chances of getting approvals for future loans.

How can I check my CIBIL Report without Paying?

As per RBI’s mandate in 2017, all the credit bureaus in the country are required to offer one free detailed credit report to consumers with credit history every calendar year. You can visit CIBIL’s official website and get your CIBIL report.

Moreover, Bankbazaar also gives you the facility to check your Credit report.Check your Credit Score

How to Download CIBIL Report?

Follow these steps to download your cibil report

Go to the official CIBIL website.
Click on the “Get Your CIBIL Score” option.
This will redirect you to a page where you can request your CIBIL score and report.
Fill in your personal details, including your full name, date of birth, mobile number, and email address.
Confirm your details by correctly answering the security questions provided.
Select the pricing option that suits your needs and make the payment.
Once the payment is processed, you will receive an email with your CIBIL report.
Open the email and follow the instructions to access your CIBIL report.
Carefully review the report, checking for any discrepancies or errors.
Should you come across any inaccuracies, reach out to CIBIL customer care support for assistance in resolving the issues.

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Key Terms and Keywords that Feature on Your CIBIL Report:

A CIBIL report is a summary of your detailed credit behaviour. It consists of various sections that offer detailed information ranging from your personal information, home or auto loan availed, overdraft facilities, personal loan, and much more. In addition, the CIBIL report consists of your CIBIL score and history. There are several key terms and keywords that are present in your CIBIL report that will help you understand the report in a better way.

Cash Limit: Cash limit refers to the amount of cash on your credit card that you are allowed to use.

Amount Overdue: It indicates the total amount that has not been paid to the lender in a specific time.

NA/NH: NA means No Activity while NH means No History. This means you have no credit history or not even a credit history to get scored. The NA/NH term also means you have no credit activity for a couple of years. Finally, it also suggests that you do not have any add-on credit cards and have no credit exposure.

DPD: Days Past Due refers to the number of days that have passed since the due date of the payment. It must be noted that anything over zero or even ‘Standard’ is bad.

Written-Off Amount: When a loan is written off there is an interest and principal component. This field reflects the total interest and principal amount written-off.

Written-Off and Settled Status: If the status of an account is mentioned as written off, it implies that the borrower was unable to pay the outstanding dues for more than 180 days and as a result, the lender has written off the unpaid dues. If the status of an account is mentioned as settled, it implies that, the borrower in consent with the lender, has partly paid the dues against the total outstanding amount.

SMA: Special Mention Account refers to a special account created for reporting a standard account that is moving towards a sub-standard.

CN: Control Number acts as a reference number in case there is some incorrect information in the credit report. It is presented at the top of the document.

Repayment Tenure: It refers to the term of your loan. In order to understand it accurately, repayment tenure should be read with ‘Payment Frequency’.

SUB: Sub-standard refers to accounts (loan/credit card) payments that are made after 90 days.

LSS: It refers to the account where the loss has been identified and remains uncollectible.

DBT: It means an account that has continued to remain in the sub-standard account status for 12 months.

Actual Payment Amount: It is the amount you have paid the lender if it is different from the EMI amount. The actual payment amount can be higher or lower than the EMI amount.

Current Balance: It refers to the amount that you still owe on a certain credit facility.

STD: This entry is termed as (Standard) and is found against loan/credit card accounts, if the credit payments are made in a timely manner, or within 90 days from the due date.Check your Credit Score

Types of Loans That Impacts Your Credit Score:

Loans are of two types:

Secured loans: These are loans like home loans, and auto loans and they are secured by a collateral.

Unsecured loans: These loans are like personal loans and credit cards. You can avail yourself of these loans without a collateral.

Balanced mix of loans

It is ideal to have a good balance of secured and unsecured loans. A balanced credit mix will positively affect your credit score. This will, in turn, increase the chances of you getting more loans in the future.
If you have too many unsecured loans, this may negatively affect your credit score. This would mean that a lender will think that it is a high risk to give you a loan.

Benefits of Maintaining a Good CIBIL Score

Having a good credit score can benefit you in many ways:

Higher chances of getting loans at lower interest rates.
High chance of your loan application getting approved. This is because a high credit score reflects your creditworthiness.
You will get access to pre-approved loans with a good credit score
Your credit card application will also get approved fast
You will get a discount on your processing fees
You can get a higher credit card limit

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How to Check CIBIL Score Using PAN Card?

Here is the step by step process on how to check cibil score using pancard

Step 1: Go to the official website.

Step 2: Select ‘Get Yours Now’

Step 3: Fill in the information required and create an account for yourself

Step 4: Go to ‘ID Type’

Step 5: Choose ‘Income Tax ID Number (PAN)’

Step 6: Type in your ID number

Step 7: Select ‘Accept & Continue’

Step 8: Within 24 hours, you will get a free credit report and also your score to your mail

If you have opted for a CIBIL report without money for the current year:

Step 1: Visit the official cibil website

Step 2: Choose ‘Get Your CIBIL Score’

Step 3: Select your product

Step 4: Type in all information

Step 5: Answer a few questions about credit cards and loans

Step 6: Your CIBIL score and report will be sent to your email ID

CIBIL Customer Care

Contact CIBIL customer care via phoneCall +91-22-6140-4300 to connect to CIBIL customer care. You can call this number from Monday to Friday (10:00 a.m. to 6:00 p.m.)
Contact CIBIL customer care via faxThe CIBIL customer care fax number is +91 – 22 – 6638 4666
Contact CIBIL customer care by visiting the corporate office or by writing to themYou can visit the corporate office or write to them at:TransUnion CIBIL Limited (Formerly: Credit Information Bureau (India) Limited)One Indiabulls Centre, Tower 2A, 19th Floor,Senapati Bapat Marg, Elphinstone Road,Mumbai – 400013
Contact CIBIL customer care via their websiteYou can visit https://www.CIBIL.com and select ‘Contact Us’. Then choose ‘To Contact Us Online’ and choose ‘Click here’. Enter the details and click on ‘Submit’.

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FAQs on CIBIL Credit Report

How do you correct errors in your CIBIL credit report?
Do I need a form to apply for a CIBIL credit report?
I don’t want my CIBIL TransUnion Score, just the credit report. Is that possible?
How long does it take for the CIBIL credit report to reach?
What are the documents required for the CIBIL credit report?
Is there any time stipulation on when the supporting documents should reach CIBIL?
How will the report be sent to me?
What happens if I am not there to receive the report?
What happens if I have made mistakes on the application form?
What if I send the wrong details by mistake?
What happens if the address in my CIBIL account and the address proof don’t match?
How can I pay for the credit report?
Can I improve my credit score?