Credit Information Bureau India Ltd. is apex agency in India that brings facility of calculating credit score to make applying for loan and credit card easy not only for personal use but for corporate use too. CIBIL is among top 1000 organization in the world that holds the ISO 27001, which is highest in the world in terms of quality standards.
Report issued by CIBIL is known as credit information report (CIR) that brings complete information about entire transaction history of company or individual. Apart from CIBIL there are other reputed agency Experian Credit Information Company of India Pvt Ltd. that avails top class services to users.
Credit report contains information about all repayment done by customer over certain period of time but it never contains the information about loans, fixed deposits and other services. Credit Information Bureau (India) Limited (CIBIL) TransUnion Score is combination of three digits that point out the transaction credit of customer.
Credit information report avails the information about the credit earned by the customer from credit card, home loan, personal loan, overdraft and auto loan. It will also contain the record of employment details, personal details, bank account related information, contact information too. Some main component are specified below
a. In first segment user will get information about their CIBIL score in range of 300-900, on the basis of information provided by you to CIBIL.
b. Personal information section contains the complete information about customer including name, address, date of birth, voter ID, PAN card and other information.
c. In sub section under personal information, records regarding lending amount and date of application will be mentioned.
d. Next section is contact section that avails the information about candidate email address, mobile number, telephone etc. Here, it will also be specified that specified address is official or permanent residential address.
e. Account section specifies the details provided by customer to respective organization while applying for loan. Here, information regarding your credit and loans will be available as per CIBIL policy.
f. Employment section specifies information about the candidate income resources and other transaction records along with profession of the candidate.
g. Enquiry section contains the information provided by the vendor while gathering information regarding policy and other terms and conditions.
h. Consumer dispute remark is final segment or component of this section that will avail information about the report accessed by the customer every year with date and other information i.e. credit related information.
Each component is vital and important component of CIBIL report and must be present in report to keep report valuable and authentic.
As we know that this is highly reputed and valuable report that CIBIL issue to avails individual credit value to help banks or other financial organizations to make their task easy and authentic. Some of them are
a. Helps in staying clear of debt traps.
b. Better score on the credit report provides leverage when negotiating interest rates.
c. A unified report with all your previous and current credit history.
d. CIBIL credit reports form the basis of releasing loans to a customer.
e. An exhaustive report to help you nurture better financial discipline.
CIBIL issue credit information report of individual on the basis of their credit worth. Statically specified numbers are CIR of individual. If are applying or planning to apply for loan or credit card. CIR is mandatory for all the process. Prime factors of CIR are specified below
a. New credit facility for customers.
b. Customer payment history specifies the details about the transaction details about the past three months along with Days Past Dues (DPD) that specify about delay in EMI repayment.
c. Enquiry section refers to all inquires made by you to get loan, credit card and it will also refer to the mistakes made by you during the process. It will also specify details to calculate the details regarding number of attempts made by you.
d. Current outstanding balance refers to details about reaming EMI payment and credits.
Company credit report contains information about the any organization on the basis of information provided by the company to any bank or reputed financial organization. CCR report does not offer any rating because CIBIL is not authorized to do so, only reputed organization can give rating to companies.
CCR is used by organization to get approval and help in loan approval process. Healthy CCR report is beneficial in approval of loan and helps you to grow your business easily. One of the main differences between company credit report and company rating is that bank avails information regarding all specific transactions whereas authorize agency calculate the quality on basis of specified criteria and after that issue them rating as per their performance.
If you want to receive your CIBIL report, you need to fill all the required information as per need in application form.
1. First of all choose and subscribe your plan, whether choose Bi annual plan that will give you two reports and charges for this offer is RS 800 or choose the plan quarterly subscription and get four reports and fess for this offers is Rs. 1200.
2. Enter your details like date of birth, PAN card number, chose your gender and specify your email address.
3. Enter the captcha from box to complete the authentication process.
4. Now check on check box to go for further processing.
5. Now click on proceed to payment option.
After successful payment, user will be redirected to security authentication section and you have to answer three out of five. Question will be based on previous transaction records of users, so answer carefully to avoid any complication. If anything goes wrong then as a proof you have to send hard copy of your valid documents to get your CIBIL report.
It is possible to get CIBIL report without subscribing any plan, to do so follow the steps given below
a. Go to Url https://www.cibil.com/freecreditscore/
b. Now, enter your personal information including name, date of birth, PAN card and Identity proof document.
c. Now, enter details about your address.
d. Enter the security code in the box.
e. Checks on the check box go ahead.
f. Now, click on SUBMIT BUTTON
Then CIBIL will send user id and password in your email id. Now by using this user id and password login into your account and click on view full report and get complete report. To get extra flexibility use need to buy plans availed by CIBIL.
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