Cibil Report

Cibil Report

A CIBIL report is something that is retrieved from the credit payment history of the user given by the banks and other financial institutes. This is the base that cements your possibility of getting a loan easily or not. A good credit score and report helps in getting you loan easily and in a faster way by the financial institutions.

Importance Of A CIBIL Report

  • It helps in showcasing your creditworthiness to the banks and financial institutes.

  • A good CIBIL score gets you loan easily and on a faster rate.

  • It helps in keeping a financial discipline of paying on time that assures your safety from falling into any debt trap.

  • If your CIBIL score is over 750 then you can get loan on attractive interest rates too.

How To Read A CIBIL Report?

  • CIBIL Score: Your 3-digit CIBIL score will be provided to you after analyzing your account and enquiry section of CIBIL report.

  • Employment Information: This section gives information on monthly or annual income of the use as per the details registered with the bank.

  • Account Information: This gives the details of credit facilities like name of the lending institutes, account numbers, date of last payment, loan amount, current balance and monthly record of the payments.

  • Personal Information: This section given an information about your name, age, gender, date of birth, PAN number, passport details.

  • Contact Information: This contains information on address and contact number of the user.

  • Enquiry Information: This gives an information on the enquiry that has taken place by the multiple banks and financial institutes on your CIBIL credit report. This also gives information on the loans taken in the past and amount of loan as well.

Types Of CIBIL Report

  • Credit Information Report: This report is generated for the users and it contains all the details related to past credit behaviour and credit score attached to it.

  • CIBIL Company Credit Report: This report contains the credit history of the company compiled with the help of various credit institutes. This report helps in lending institutions make credit information quickly and effectively.