How to Check Your CIBIL Score & Credit Report for Free

A CIBIL report is a detailed document that shows your credit history. A CIBIL report includes personal information, contact information, employment details, loan accounts, credit card details, and various hard inquiry information.

What is a CIBIL Report?

A CIBIL report lists all records of your financial history that are compiled and received from various financial institutions. A CIBIL report contains the list of loan and credit card accounts, payment history, credit enquiries, and credit-related data. Your credit behavior is clearly displayed, helping lenders evaluate your creditworthiness.

One of the financial records lenders will review for loan or credit card approval is your CIBIL report. A CIBIL report is a detailed document that contains all financial transactions.

Key Sections of Your CIBIL Report

A CIBIL report contains your detailed credit history. The report is generated by TransUnion CIBIL (the first major credit bureau in India). Whether it is loan-related information or any details about your credit card, you will find everything here.

Your CIBIL report consists of six main sections. They are:

01.

CIBIL Score :

Any CIBIL score closer to 900 is considered a good CIBIL score. Loan approvals are easier for these borrowers. Any CIBIL score closer to 300 is considered a bad credit score. Your credit application is likely to get rejected for this score.

02.

Personal Information :

This section contains all the information that establishes your identity. Some of the information in this section includes your name, address, date of birth, and identification numbers such as PAN, Passport number, and Voter's ID.

03.

Account Information :

This section houses the details of every loan or credit card you have taken. It contains a lot of information, such as the lender’s name, loan type, account number, loan amount, current balance, payment history, and the date the account was opened or closed.

04.

Contact Information :

All your personal contact information gets recorded in this section. This includes Contact number, address, and email ID.

05.

Employment Information :

Here you will find the employment information. This includes your employment status and the monthly remuneration drawn as reported in the financial information.

06.

Enquiry Information :

Every time you apply for a loan or credit card, the lender checks your credit report for any discrepancies. This enquiry is called a hard enquiry. This section lists all the times the lender has accessed your credit report.

How to Check Your CIBIL Score & CIBIL Report for Free

The following steps must be followed to check your CIBIL score and CIBIL report for free.

Go to the https://www.cibil.com website.
Click the New User button on the top right-hand corner.
Click the GET YOUR FREE CIBIL SCORE AND REPORT button.
Enter your basic details in the form that opens up.
This includes Email Address, Password, First Name, Last Name, ID Type, ID Number, Date of Birth, PinCode, and Mobile Number.
Click the Accept and Continue button.
Once verified, you can view your CIBIL score.
You can also check your CIBIL report by clicking the CIBIL Report on the left-hand side menu bar.
If you want a hard copy of your CIBIL report, you can also click the Print Your CIBIL Report option.

What Is a Good CIBIL™ Score?

A CIBIL score is a three-digit numerical representation of an individual’s credit risk that is calculated using credit history data from various financial institutions. CIBIL scores range from 300 to 900. Any CIBIL score above 750 is considered a good CIBIL score. The following are some of the benefits of a good CIBIL score. They are:

Faster Approvals
Attractive and Affordable Interest Rates
Longer Repayment Tenure
Flexible Terms and Conditions
Access to Pre-approved Offers
Access to Premium Credit Cards
Higher Credit Limit

How is Your CIBIL Score Calculated?

CIBIL score is calculated based on some primary factors. They are: repayment track record, credit limit utilization, length of credit history, diversity of credit accounts, and recent credit inquiries.

Repayment Track Record: Make on-time payments of your loan EMIs and credit card payments.
Credit Limit Utilization: Keeping your credit card utilization under 30% will help you secure future credit.
Duration of Credit History: When you have a longer credit history, lenders will have trust in you that you have experience in handling debt. This will help you boost your CIBIL score.
Diversity of Credit Accounts: A perfect mixture of secured and unsecured loans will help you maintain a healthy credit score. A mixture of both secured and unsecured debt is better than having only an unsecured debt.
Recent Credit Enquiry: Multiple credit applications within a short span of time indicate that you are a credit-hungry person, which will hurt your CIBIL score.

Conclusion

When you apply for credit, one of the first and foremost things that lenders will look into before pursuing your loan application is your CIBIL report. A CIBIL credit report helps you not only with your CIBIL score. It also helps you to find whether your CIBIL credit report has any discrepancies. It is always wise to review your CIBIL report before applying for credit. This is to avoid any credit rejections due to CIBIL report errors. It also helps lenders identify the credit accounts you have handled in the past and helps you establish your creditworthiness with them. Lenders will not only grant you credit but also offer it on comfortable terms and conditions. With CIBIL giving you access to a free credit report once a year, make the best use of the same and keep your CIBIL report error-free.

Disclaimer : This page includes information that has been compiled from many sources and is only offered for informational purposes. Given that this type of data may change over time, we cannot guarantee the accuracy of the information supplied or included within it. It is anticipated that the user will confirm with the relevant source before making any choices or taking any actions.

How Can You Get Your CIBIL™ Credit Report for Free?