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CIBIL Report

TransUnion CIBIL Limited (earlier known as Credit Information Bureau (India) Limited) is India's premier and oldest credit information bureau. CIBIL releases credit reports, called Credit Information Report (CIR), which details an individual's credit history. These records are passed on to the bureau by member banks and other financial institutions on a regular basis.

What Is CIBIL Report?

A CIBIL report contains detailed information on the credit you have taken, like home loan, car loan, overdraft facilities, credit card, personal loan, etc. It will mention your repayment history of the money borrowed over a period of time.

Credit scores - the three-digit numeric summary of your credit history, ranging from 300 to 900 - are derived on the basis of what is listed in the credit report.

Importance of A CIBIL Report

A CIBIL credit report is a highly valued report for the following reasons:

  • It helps lending institutions assess your creditworthiness.
  • Banks and other financial institutions extend loans based on what is in the CIBIL credit report. A good CIBIL score will make it easier for you to avail loans from banks.
  • Regularly analyzing the CIBIL credit report helps inculcate financial discipline, which in turn steers you clear from falling into any debt trap.
  • A CIBIL score that is over 750 provides you leverage while negotiating interest rates.

How to Read A CIBIL Report?

A CIBIL credit report comprises of various sections that offer detailed information about your credit history and score. The components of a CIBIL report are:

  • CIBIL Score - Your three-digit CIBIL score is calculated on the basis of your credit behaviour, as reflected in the ‘Accounts’ and ‘Enquiries’ section of your CIBIL report.

  • Personal Information - This section contains your name, gender, date of birth and identification numbers, like PAN, passport number and voter’s number.

  • Contact Information - This section will mention your address and telephone number(s). Up to 4 addresses can be mentioned.

  • Employment Information - This section contains the monthly or annual income details, as reported by the members (banks and financial institutions).

  • Account Information - This section comprises of the details of your credit facilities like name of the lending institutions, kind of credit facilities (personal, home, overdraft, etc.), account numbers, date opened, date of last payment, loan amount, ownership details, current balance and a month-on-month record of your payments.

  • Enquiry Information - Every time you apply for a loan or credit card, the respective financial institution will access your CIBIL credit report. These enquiries get listed in the report and will contain the vendor’s name, type of credit, amount of credit applied and date of application.

Types Of CIBIL Credit Reports

CIBIL generates two kinds of credit reports - Credit Information Report and Company Credit Report.

  • Credit Information Report – A credit information report is generated for individuals and contains details about past credit behaviour, and a statistically derived CIBIL score.

  • CIBIL Company Credit Report A CIBIL company credit report contains the credit payment history of a company, which is compiled from the information provided by various credit institutions. The purpose of a company credit report is to help lending institutions make informed credit decisions, both quickly and objectively.

Key Terms To Understand In A CIBIL Report

Some of the key terms you will find in your CIBIL credit report are:

Standard (STD)Payments have been made within 90 days.
Non-Performing Asset (NPA)Payments are pending for over 90 days.
Sub Standard Account (SUB)An account that has remained an NPA for over a year.
Credit LimitThe total credit extended on your credit card and overdraft.
Repayment TenureThe duration of the loan repayment period.
EnquiryThis section lists the details of the loan or credit card you have applied. They are provided to CIBIL by the financial institution.
Control NumberIt is a 9-digit unique number that helps the credit bureau track your CIBIL credit report.

What Are CIBIL Credit Reports Used For?

Banks and other financial institutions check your CIBIL report before deciding whether or not to extend credit, like loans and credit cards, to you. Sometimes employers check CIBIL credit reports as part of the application process to determine how you manage your finances. Since CIBIL credit reports can impact many aspects of your life, it becomes necessary to ensure that the information mentioned is both accurate and positive.

How to Get CIBIL Report For Free

As per the Reserve Bank of India's directives, all credit information companies in the country, including TransUnion CIBIL, are required to provide one free credit report on request once in a calendar year.

To view your free CIBIL report, visit TransUnion CIBIL’s official website and go to the "My Account" tab on the top right side of the screen. Click on "Get your Free Report" link and you will instantly get access to your free score and report. In case you are unable to view the “Get your Free Report” link, it is possible that you may have already applied for a free CIBIL report for the year.

How To Resolve CIBIL Credit Report Errors?

Inaccuracies in the CIBIL credit report can bring down your credit score and hurt your chances of getting an approval for a loan or credit card. To keep this from happening, it becomes necessary to regularly check the CIBIL credit report for errors. In case you spot a discrepancy, here are the steps to take to resolve them:

  • Step 1 - Fill out an online dispute form, which is made available on CIBIL's official website

  • Step 2 - Submit the online dispute form. The disputed field will be marked “Under Dispute”.

  • Step 3 - CIBIL will take up the dispute with the concerned lending institution. You will get an email notification regarding status of the dispute.

  • Step 4 - If the dispute is accepted, corrections will be made in the CIBIL credit report.

The total turnaround time to resolve any dispute is about 30 days.

What Is The Difference Between CIBIL Report And CIBIL Score?

A CIBIL credit report is a running record of your past credit transactions and contains details of both borrowings and repayments from/to lending institutions. It is generated by CIBIL based on the customer credit records it receives from various banks and lending entities.

A CIBIL score is a three-digit numeric summary of your credit history. It ranges from 300 to 900, with 300 being the lowest and 900 the highest. The score is derived by the credit bureau after taking into account the information in the CIBIL credit report.

FAQs on Cibil Report

What are the documents required for generating a CIBIL report?

The documents required for generating a CIBIL credit report are:

  • Valid Identity Proof - PAN or Passport or Voter's ID
  • Address Proof - Telephone Bill or Passport or Bank Statement or Electricity Bill or Credit Card Statement

Does late payment of EMI affect my CIBIL report?

Yes. Every late or missed payment gets recorded in your CIBIL credit report and it negatively affects your CIBIL score.

Is CIBIL report generated every month?

There is no limit on the number of times you can apply for your CIBIL report. However, information is provided to CIBIL only on a monthly basis and you might not observe any change before an interval of 30 days has passed between the reports.

How will I know the status of my CIBIL report if there is any error?

If you have filed a dispute over an error in the CIBIL report, the credit bureau will communicate its status to you via email notifications. An automated email notification will be sent to you regarding the status of your dispute every 7 days.

What if I am not satisfied with the results of my CIBIL report?

In case you spot any inaccuracy in the CIBIL report, you can raise a dispute with the credit bureau over the same to rectify it. If you’re not satisfied with the results of the dispute, you can get in touch with the concerned credit institution directly. Alternatively, a dispute request can be initiated again and the bureau will re-verify it with the relevant institution.

What are the things that can affect my CIBIL report?

The factors reflected in your CIBIL report that can affect your score are:

  • Repayment History
  • Credit Utilization Rate
  • Loan Settlement
  • Credit Mix
  • Credit Application(s)
  • Being A Guarantor On Loans
  • Number Of Accounts
  • Negative Information

What are the things that can affect my CIBIL report?

The factors reflected in your CIBIL report that can affect your score are:

  • Repayment History
  • Credit Utilization Rate
  • Loan Settlement
  • Credit Mix
  • Credit Application(s)
  • Being A Guarantor On Loans
  • Number Of Accounts
  • Negative Information

How do I remove "Written-Off" from My CIBIL Report?

The first step that you should take to have the ‘Written off’ status removed from your CIBIL report is to clear off all the pending dues against your name. Visit the bank from where you had taken credit to negotiate on the final settlement. If you feel that you would prefer repaying the dues in instalments, discuss it with your bank. Make sure that you get a clearance certificate on clearing off all the outstanding dues and remove the ‘Written off’ status from your CIBIL report. Follow up with your bank for a confirmation on the removal of the negative remark. Next, check your CIBIL report to ensure that the status has been reversed. If it has not been corrected yet, get in touch with your bank and CIBIL regarding the same, supporting your claims by submitting the clearance certificate.

Is CIBIL the only one that provides a Credit Report?

No, the Reserve bank of India (RBI) has authorised three other credit bureaus other than CIBIL – Equifax, Experian and HighMark – to prepare the Credit report. The misconception that TransUnion CIBIL is the only body authorised to generate the Credit report arises from the fact that the words ‘CIBIL’ and ‘credit score’ are used interchangeably.

How can I rectify my CIBIL report?

  • Strictly stick to the due dates for debt repayments.
  • Don’t use more than 35% to 40% of your total credit card limit.
  • Pay the full outstanding credit card bill rather than paying only the minimum outstanding amount to avoid paying a heavy interest rate on the remaining balance.
  • View your CIBIL report at regular intervals to check for omissions and repetitions of data or the mention of fraudulent transactions. These affect your CIBIL score.
  • Avoid financial habits like making cash withdrawals against your credit cards as this is interpreted as desperation for credit hungriness, caused due to financial instability.
  • Opt for auto-debit of the outstanding debt amount every month if you miss repayments out of forgetfulness. You will be given the flexibility to choose a date as per your convenience. The debt amount will be deducted from your account on this date every month till you have repaid the entire dues. Be careful to maintain the necessary balance in the account on your selected date to prevent an unsuccessful auto-debit. Banks levy a heavy interest rate for every unsuccessful auto-debit.
  • Avoid being a loan guarantor. Not only does the defaults of the primary accountholder affect your CIBIL score, you might also be asked by the bank to repay the pending debt amount on behalf of your guarantor.

How can I remove a loan settled record from my CIBIL report?

The CIBIL report is prepared based on the data submitted by banks and financial institutions. It does not have access to this data from any other source. Therefore, unless and until your bank does not submit your data, CIBIL would not be able to update the same in its report. It takes between 30 days and 60 days for the data to get reflected in your report. You can get in touch with the bank and make arrangements to change the loan status.

How long does a debt appear on CIBIL report?

In India, there are no regulations regarding the maximum period of time for which debts will appear on credit reports. Hence, such information always gets reflected in your report. Defaults in repayments affect your credit score for the next 3 years, while a negative comment like ‘Written off’ or ‘Settled’ appears in the report history for the next 7 years.

Can I hide my loan history in my CIBIL report?

There is no option for you to hide your loan history. It is mandatory for banks and non-banking financial institutions to share data regarding all approved loans to all the 4 credit bureaus that have been authorised by the RBI to generate credit reports – CIBIL, Equifax, Experian and HighMark.

How long does a non-payment stay on CIBIL Report?

A non-payment of dues appears in the CIBIL report for 3 years since the day of the default. However, defaults in reports that include a negative remark like ‘Written off’ or ‘Settled’ get reflected in the credit history for the next 7 years.

Can I generate my CIBIL report without a score?

Yes, the ability to check your CIBIL report does not depend on how high or low your score is, nor is it determined whether you have a score or not.

How can I remove DPD from CIBIL?

There is no provision for you to remove the DPD (Days Past Due) status from your CIBIL report.

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Is there any bank that will give you a credit card without checking a CIBIL report?

No, almost all banks check your credit score before issuing you a credit line. However, if your score is low you can select one of these options to have a credit card without having your CIBIL report being evaluated:

  • Apply for a secured credit card: This is the most hassle-free and easiest option for getting a credit card without the bank checking your CIBIL report. Open a Fixed Deposit account with your preferred bank will make you eligible for a credit card with a credit limit of 50% to 100% of the amount you have deposited in the FD account.
  • Open a savings account at a leading bank: Deposit a certain amount of money in a savings account to be eligible for a credit card. However, remember that such services will be offered only by major banks.
  • Apply for an add-on credit card: Opt for a supplementary or add-on credit card on the card that a family member owns. In this case, you will become eligible for a card without having your CIBIL report checked. The entire credit limit will get shared between the primary credit card and the add-on card.
  • Opt for a prepaid credit card: Some major banks enable you to use a credit card against a certain amount you have deposited in advance. Once this amount gets exhausted, you can again deposit an amount as per your preference to continue using your credit card.

In how many days will a credit enquiry by a lender be reflected in the CIBIL report?

The number of days that a credit enquiry gets reflected in the CIBIL report depends on the type of banks and non-banking financial institutions. While leading banks report data every month, smaller banks and NBFCs report them on a quarterly basis. After the data is reported, information regarding a credit enquiry may appear in the CIBIL report immediately or by the next day.

How do I track the CIBIL report application request?

  • Visit CIBIL’s official website to access the Report Dispatch Status form or click here to get directed to the form
  • Fill up the form with the required personal information, contact details, Proof of Identity and transaction detail
  • Describe your query and type in the characters as shown
  • Click on the ‘Submit’ option for CIBIL to get back to you regarding the status of your request for CIBIL report

How many points are increased on my CIBIL report each month if I pay my loan EMI/card payments on time?

The improvement of your CIBIL score does not solely depend on timeliness of debt repayment. It is also determined by various other factors like the number of existing loans, type of credit, number of loan applications and rejections, the count of hard enquiries, the balance of secured and unsecured loans, etc. Maintaining a good track record of all of these will enable you to improve your CIBIL score.

Does an active loan on a CIBIL report deprive you from getting another credit card, even if you have a good credit score?

No, having an active loan does not deprive of being eligible for a credit card, if you have a good credit score. In such cases, banks evaluate your eligibility on these parameters:

  • Timeliness of current debt repayment and history
  • Current income
  • Employment stability

What is the meaning of closed, settled and written off in a credit report?

The term ‘Closed’ in a credit report means that you have repaid your loan in full and the lending institution has reported this account as ‘Closed’ to the credit bureau.

If the dues are partly paid and the loan or credit card outstanding is settled, then the term 'Settled' will appear in the credit report. When an account is settled, it means that the lender is ready to accept a payoff amount which is below the sum originally owed. Since the lender is taking a loss, the ‘Settled’ status in the credit report adversely affects the chances of loan or credit card approval.

In case one does not make payments against the outstanding loan or credit card amount for over 180 days, the lending institution is required to write-off the amount in question. The lender proceeds to report this as 'Written off' in the credit report. This remark majorly impacts the individual's chances of being granted a loan or credit card in the future.

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