In today's financial landscape, the role of a CIBIL score is crucial in the issuance of credit cards as well as the loan application process. A CIBIL score, also known as a credit score, serves as a measure of an individual's creditworthiness. The higher the score, the more likely it is that personal loans, home loans, and credit card applications will be considered and approved.
CIBIL, which stands for Credit Information Bureau (India) Limited, is one of the four main credit bureaus in India. It is an RBI-authorized credit bureau responsible for managing and collecting information about the credit history of individuals, companies, and public and private establishments. CIBIL, along with other prominent credit bureaus like Experian, Equifax, and CRIF Highmark, has been granted a license by the Reserve Bank of India to operate as a credit agency.
Your credit rating, as determined by CIBIL, reflects your creditworthiness as a potential borrower. Factors such as your credit history, the total amount due, credit card bills, repayment history, number of credit accounts, and credit utilization are taken into account when calculating your credit score. A good CIBIL score, typically ranging from 720 to 900, indicates a positive credit history and behavior. With a good score, borrowers can enjoy benefits such as higher loan amounts, faster loan approvals, and lower interest rates, ultimately saving both time and money.
Visit the official CIBIL website: Start by accessing the official CIBIL website through your web browser.
Select "Get your CIBIL Score": Look for the option or tab that says "Get your CIBIL Score" on the website's homepage and click on it.
Provide your information: Fill in the required details, including your name, email ID, and password. Attach a valid ID proof such as passport number, PAN card, Aadhaar, or Voter ID. Enter your PIN code, date of birth, and phone number.
Accept terms and continue: Read and accept the terms and conditions, then click on the "Accept and continue" button.
Verify your mobile number: You will receive a One-Time Password (OTP) on your registered mobile number. Enter the OTP in the designated field and click on "Continue."
Access the dashboard: Select "Go to dashboard" to proceed to the CIBIL website's dashboard.
Login to your account: On the dashboard page, click on "Member Login" and enter your login credentials to log in to your account.
Check your CIBIL score: Once logged in, you will be able to view your CIBIL score and access your credit report.
Visit the official CIBIL website: Go to the official CIBIL website using your web browser.
Click on "Know Your Score": Look for the option or link that says "Know Your Score" on the website and click on it.
Fill in the online form: Provide the required information in the online form, including your name, date of birth, address, identification proof, and past loan history. Fill in all the relevant data accurately.
Proceed to payment: After completing the form, you will be directed to the payments page. Choose your preferred payment mode from options like prepaid cards, credit cards, or net banking. A payment of Rs.550 is required to obtain your credit report from CIBIL.
Authenticate your identity: Once the payment is successfully made, you will be redirected to an authentication page. Here, you will need to answer five questions related to your credit history. You must answer at least three questions correctly to verify your identity with CIBIL.
Receive your credit report: If the authentication is successful, your credit report will be sent to your registered email address within the next 24 hours.
Alternate option for authentication failure: In case the authentication process fails, you can fill out a hard copy of the application form and send it to CIBIL by mail. You will receive your credit report by mail once the process is completed.