What is Cibil Report and information about it (What is Cibil Report and its Information in hindi)
The full name of CIBIL is Credit Information Bureau (India) Limited. It is India’s first credit company and credit bureau, which keeps all types of credit related information and records of companies like loans, credit cards etc. or even personally. Under the Credit Information Companies (Regulation) Act, 2005, the Reserve Bank of India added many rules to it, with the help of which this company does this work. All these records are submitted by the registered bank members in CIBIL or other financial institutions within a regular time period. Generally this time period is of 1 month. Under this, there is a data base size of 17 crores under more than 65 lakh companies. It consists of at least 500 members at the instant. With its help, information about repayment, bank consumer loan, credit card and other types of banking history can be obtained.
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CIBIL aims to help the credit grunting institutions by collecting, chronologically organizing and disseminating the credit information and passing the required information to these credit grunting institutions.
- 1 Cibil Owner
- 1.1 How to Work Cibil
- 1.2 When Cibil Provides Credit Report
- 1.3 What is Credit Information Report
- 1.4 How to Get Cibil Report
- 1.5 What is a Good Score in CIBIL Report
- 1.6 Good Cibil Score for Loan Benefits in Loan Application
- 1.7 How to Remove Error in Cibil Report
- 1.8 How to Improve your CIBIL Score
- 1.9 Share this:
CIBIL’s equity was jointly operated by State Bank of India, Housing Development Finance Corporation Ltd., Dunn and Brad Street Information Service India Pvt Ltd and Trans Union International Inc. The ratio of their shareholding was 40: 40: 10: 10. The current shareholding ratio has changed, as many other banks have been included in it at this time.
How to Work Cibil
To get complete details of payment history of a credit applicant, a credit grantor has to submit all the credit records of the applicant, which may be in different institutions. CIBIL transmits this credit report to its members by taking the data related to the consumer and the company. Therefore, it can be said that CIBIL receives these data and prepares credit reports and distributes them among its members.
When Cibil Provides Credit Report
It is a holistic credit bureau, which caters to the needs of both the company and the customer. Its consumer credit bureau records the credit of someone’s individual and the company credit bureau works for any partnership firm, private and public limited company etc.
What is Credit Information Report
This is the credit payment history of a borrower, which they get from various credit grantors. Its purpose is to help the credit grantor to take the right decision in a short time. It is usually a three digit number. It is completely based on the transaction history of an individual. With the help of this, the type of loan taken by a person, the details of the institution etc. can be found out during the time period. In this, the savings, fixed deposit etc. of any person are not included, so no one can get the details of all of them with the help of this.
How to Get Cibil Report
You can apply for CIBIL report very easily. For this, pay attention to the following things
- First of all visit the CIBIL website. This website is: https://www.cibil.com/sites/default/files/pdf/consumer-request-form.pdf/. From here you will get the form to apply.
- After getting this form, name, address, email, mobile number, date of birth etc. have to be given. Fill it well.
- Along with this, submit all the necessary documents related to it such as PAN card, passport, voter ID, driving license etc.
- Use electricity, mobile bill, credit card as residential certificate.
- If you want both CIBIL Credit Report and Score, then attach a Demand Draft of Rs.470 to these documents and if you want to know only the Credit Score then make a Demand Draft of Rs.154 only.
- Send all these documents together and send it to the following address:
Consumer Relations – Disclosure Request
Credit Information Bureau (India) Ltd.
Hoechst House, 6th Floor, 193, Blackbay Reclamation
Nariman Point, Mumbai 400 021
- After all the work is done well and after all the formal activities are completed, the CIBIL report will come to your address within the next 10 to 15 days.
- If there is any problem then you can visit CIBIL Customer Care with the help of this website: https://www.cibil.com/contact-us
What is a Good Score in CIBIL Report
A score above 750 is considered a good score, with the help of which credit cards, loans etc. can be easily obtained, but generally the score of most people is between 300 and 600. However, it is not that those with a score below 750 cannot get a loan. This number starts from 300 and goes up to 900.
Good Cibil Score for Loan Benefits in Loan Application
Having a CIBIL score of 750 or above gives the lender the confidence that you are capable of repaying the loan on time and with this confidence the lender is able to give you the loan with confidence.
How to Remove Error in Cibil Report
Normally a person checks his credit report even when his loan application gets rejected in some way. The reason for this is often related to the credit report itself. You can fix errors in your credit report with the help of CIBIL. For this you have to pay attention to the following things.
- First of all buy your CIBIL report.
- After this, check all the facts given in it and find out at which place this error is.
- After this, submit your name, address, date of birth, control number along with the explanation of the error on the website of the credit bureau.
- Control number is a unique number. It is the number 9, which is printed on the top right hand side of the CIBIL credit report.
- Whenever a credit report is generated, it is generated anew. So it varies for different reports.
- It is very important to give this number to the bureaus, as it helps them to find your CIBIL credit report and work on the errors in your report.
How to Improve your CIBIL Score
You can improve your CIBIL score by constantly keeping in mind your credit report. For this, pay attention to the following things.
- The easiest way to improve your score is to apply to CIBIL to get your credit report. Keep in mind that you may have to pay for this. After this, take good information about all types of reporting in it so that there is no error of any kind. If any error is found, you can easily submit it to the bureau for rectification.
- Keep your credit card spending only up to 50% of its limit. This can reduce your credit utilization ratio, which plays a huge role in affecting your credit record. For example, if your credit limit is 2 lakhs, then keep in mind that your one month expenses should not exceed 1 lakh.
- Always keep your credit card balance low. A high credit limit gives you the flexibility to make payments and help you a lot in scoring.
- If you want to score, then neither apply for any new card nor get any card closed soon. A new card may give you a higher credit limit, but if you can’t make payments on time, your credit score will drop. Hence, it is best not to get new credit cards while you are busy building your scores.
- Take the help of payment reminders. With the help of this, you will be able to know the last date of payment and will be able to make payment before the last date. Failure to make payments on time affects the credit score. With the help of repayment history, you can go up to 30% off your credit score. So keep in mind that you are able to make full payment on time, so that your score can be better. You can also use a direct bank account for this, with the help of which payment can be made on time.