The Credit Information Bureau (India) Ltd., popularly known as CIBIL has acceded to public to have direct access to their personal credit score. CIBIL is a storage house of credit information of individuals.
It collects credit information of consumers its members like banks, finance companies (mostly housing finance companies), financial institutions, credit card issuing companies and other lending institutions then collates the information and circulates it back to its members. .
Now, CIBIL provides the information in a format called CIR (Credit Information Report), which contains details of all credit facilities availed by the borrower, payment history, amount overdue, inquiries made by the borrower with different lenders like banks, credit card issuing companies and other lending organizations suit-filed status etc.
In the recent periods, CIRs have a significant say in loan processing and have become an important tool in the hands of loan-sanctioning authorities, particularly for home loan.. The credit score, called CIBIL TransUnion Score, is the summary of the CIR, expressed in terms of numerical figure.
The score is arrived at by analysing the details like payment history, amount overdue available in the CIR
CIBIL TransUnion Score varies between 300 and 900. It indicates how likely the loan aspirant would pay back the loan, based on the past pattern of credit usage and loan repayment history.
Higher the credit score, higher the comfort level for credit approval.
Any can have his/her CIR Report directly from CIBIL for a fee. For CIR Report only fee is f Rs. 142 . For CIR Report with Credit Score (CIBIL TransUnion Score), the fee charged is Rs. 450.
One can fill the request online form on the website of CIBIL ( www.cibil.com), upload the scan copies (self-attested) of approved documents. The approved documents are identity proof, residence proof. Pay the requisite fees via internet banking.
According to CIBIL ,the documents approved for identity proof are
1. PAN card
2. Passport
3. Voter ID.
For residence proof, the documents are
1. Latest bank statement
2. Electricity bill
3. Telephone bill
4. Passport
5. Credit card statement.
On completing the transaction, one will receive a unique CIBIL registration ID and transaction ID in your Online Payment Confirmation. Also receive confirmation on your e-mail. One need to take hard copies of all documents uploaded and send the entire set to CIBIL at any one of the office addresses provided in the website .
Another method one can download the requisition form from the website of CIBIL, and fill it completely. One need to purchase a Demand Draft (DD) favouring ‘Credit Information Bureau (India) Ltd.' payable at Mumbai for requisite fees (Rs. 142 for CIR Report or Rs. 450 for CIR Report with CIBIL TransUnion Score).
One need to dispatch the filled application, Demand Draft, along with self-attested copies of identity proof and residence proof to CIBIL to one of the addresses given in the website.
On verification of documents and receiving the fees, CIBIL will dispatch your CIBIL Report along with instructions on how to understand the report. However, on receiving your CIBIL report, if you require any explanation/clarification, you can e-mail to info@cibil.com quoting your CIR number, or call Ph: 022-61404300.
pl. give reginet deatails
ReplyDelete- kamala
A lot of good information here! You could read twenty blog posts on the subject of short sales, foreclosures, and credit without getting the detailed – and accurate – information you have here.
ReplyDelete