CIBIL Report

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CIBIL Report

Credit Information Bureau (India) Limited, commonly known as CIBIL, is India’s first credit information company or Credit Bureau. It maintains records of all credit related activity of individuals and companies. The records are submitted to CIBIL by registered member (Banks) and other financial institutions on a periodic (usually monthly) basis. Based on this data, CIBIL issues a Credit Information Report or CIR (Commonly referred to as a Credit Report) and a credit score.

What is importance of CIBIL Score

CIBIL Score is calculated based on your credit behaviour as reflected in the “Accounts” and “Enquiries” section of your CIR. CIBIL score are important when it comes to availing loan approvals. Banks will check your CIBIL score before approving your loan.

A CIBIL score helps determine your Credit worthiness which in turn will help you avail loans faster easier.

CIBIL score/ report plays a very crucial role in your financial journey. Credit Lenders relay on your CIBIL score/ report to determine if you are worthy of availing credit. If your CIBIL score is below average the lenders will be hesitant to advance loans and credit cards.

Where CIBIL Score Can be Used

  • Loan approval
  • Credit Card approval
  • Interest rates
  • Housing
  • Approval of higher Limits

What includes in this Package

  • Applying for credit rating
  • Preparing for Credit Information report
  • Checking for loan availability
  • Getting CIBIL Score report.

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