Loans and credit cards are an indispensable part of your life. People hardly use cash for making payments for purchases nowadays and mostly prefer credit cards. The reason is that you don't need to pay immediately and you get a 45-day credit period to pay your bill. Also, keeping and maintaining records are very simple.
Availing loans provide you with immediate finances, thus helping you realise your dreams. Whether you are looking to buy a home, a car, or to fund your children's higher education, a loan from a bank or a non-banking financial institution would be your first choice. However, there are certain challenges before applying for a loan.
Firstly, you would need to identify the right type of loan or credit card that would meet your financial objective. You could also consult your financial planner for this.
Second, you need to shortlist the banks whom you are going to request for a loan or a credit card. When you start to search for banks online with your requirements, the banks come to know about this. You will be constantly bothered by bank executives trying to push their products. Third, once you shortlist the banks, you need to compare their products for features like interest rates, tenure, loan amount, and so on, and identify the product which fulfils your needs.
Lastly, begin the application process and hope that your loan is approved or else you will have to start the above process again. However, despite the effort you have put in to choose the right bank and the right product, you should know that your loan or credit card application could face rejection on account of your TransUnion CIBIL Score and Credit Information Report. The banks are bound to diligently check your CIBIL score and if it is found to be low, then your loan or credit card application will be rejected.
CIBIL Xpress Acquire helps you by saving you the time and effort required to search for the right product and the right bank from the numerous banks with their innumerable products. You will no longer have to undergo the stress of your application being rejected by the banks because of your CIBIL score.
This platform takes into account your TransUnion CIBIL score, credit report, city, as well as your current income.
These are then matched with the requirements as well as eligibility criteria from different banks. You can see the banks which have already approved you for loans and credit card offers.
You can then make a choice from the customised and pre-approved loans (home loans, personal loans, loans against property) as well as credit cards for which you are already eligible.
The primary objective of the CIBIL Xpress Acquire platform is to act as an interface between you and the banks and provide you with the offers you are eligible for. You don't waste time studying options that are not suited for you.
The process involves an analysis of your CIBIL score, credit report, current city, as well as income, and then displaying loans or credit card offers that you are eligible for.
The user-friendly, single, transparent platform displays loan offers based on your eligibility.
There are certain steps that need to be followed for accessing the platform. They are:
Purchasing the CIBIL score and Credit Information Report
Apart from your credit rating, you will be provided with a User Id and password or 9-digit control number and score value. If you have bought these in the last three months, you will get access to the CIBIL Xpress Acquire platform automatically.
Log on to CIBIL Xpress Acquire
You can then log on to the platform using your Id and password or control number and score value. Your personalised dashboard will display the offers from different lenders.
Choose your desired product from loans to credit cards
To view offers provided by various products, just select them on this user-friendly platform.
Compare offers by different lenders and make your choice
When you make a product selection, you can view the offers made by different lenders. Take into account various factors like interest rates, annual fees, the rating of the bank, repayment period, interest-free days, and so on. You are now in a position to take your own decision. All that remains to be done is to pick and click.
Wait for a response from the lender and get started
The lender will get in touch with you for the product selected by you. You will then be asked for the required documents to verify your credentials. Once your documents are verified, your loan or credit card will be approved.
Benefit from the financial product chosen by you and give your feedback to CIBIL Xpress Acquire
Once the product of your choice, be it a loan or a credit card, has been received by you, rate the platform and the application process to help CIBIL offer better services in future.
In order to get the right loans and credit card offers, it is important that you provide accurate details about yourself. These are the things you need to understand:
Only one product per category can be selected.
After you have opted for an offer, you don't need to contact the lender. The lender will get in touch with you and will provide information about your TransUnion CIBIL Score and Credit Information Report. The offer you get is directly related to the fact that you have applied through CIBIL Xpress Acquire.
What is CIBIL Xpress Acquire?
Xpress Acquire is one of the exclusive service which CIBIL provides. This service will consider your TransUnion CIBIL Score, your annual income, and other factors which have a bearing on your credit history.
What products does the CIBIL Xpress Acquire provide offers on?
You will find offers relating to home loans, personal loans, loans against property and credit cards on the CIBIL Xpress Acquire platform. You are allowed to apply for only one offer at a time.
How does CIBIL Xpress Acquire operate?
In order to avail of the CIBIL Xpress Acquire facility, you need to purchase the TransUnion CIBIL Score and Credit Information Report. If you are one of the recent buyers, then you are likely to get a control number and credit score which will provide you access to the CIBIL Xpress Acquire platform.
You need to log in to the CIBIL Xpress Acquire platform using the control number and credit score.
Once you have logged into the platform, you need to select a product and apply for it.
Once the application process is over, you will be contacted by a representative of the bank and they will assist you with the remaining part of the application process.
What do I do if I am having problems with logging in?
One of the primary conditions of using the CIBIL Xpress Acquire platform is that you should have bought the TransUnion CIBIL Score and Credit Information Report in the last three months. You will not get access to this platform if your score is older than three months. You will have to get a new score in order to access the platform.
