CIBIL Report

The CIBIL report is an extensive report that contains the credit history of an individual. This report is maintained by the Credit Bureau of India Limited which shows individual’s credit payment history over a time period. Across various lenders and products what is your payment history, it can be fall in terms of credit report. It maintains information such as existing loans, loan repayment history, bankruptcies, late payments and enquiries from lenders. Based on the report, lending institutions assess your financial credibility and repayment capability. Whenever you apply for a loan, the lending institution takes a look at your CIBIL score before taking a decision to approve or reject your application. It is important to know the various sections of the CIBIL report and how to read and understand your CIBIL report. The most important thing about your CIBIL report to remember is that your CIR does not include details of your savings, investments or fixed deposits.

Credit Score

Your credit score is a figure derived from the “Accounts” and “Enquiry” sections in your credit report. It is a 3digit number that falls between 300 and 900, with scores upwards of 750 considered ideal. A high CIBIL score enhances your chances of getting a loan. It is important to maintain a good credit score if you are planning to apply for loans soon.

How to Read your CIBIL Report

Your CIBIL report consists of the following sections:

Personal Information

This section contains personal details about you such as name, address, date of birth and gender. It also contains your Permanent Account Number, passport number and driving license number that you may have disclosed to a lender previously.

Employment Information

This section contains your income and employment information at the time of availing credit facility, as reported by the lender.

Account Information

This is the most significant part of your credit report. It contains details of all the loans you have taken and credit cards that you own. It gives details such as amount of loan taken, whether the loan has been taken individually or jointly, the outstanding amount, payment history, any default in payment, any collateral pledged by you when taking the loan, date of last payment and so on. It will be good to have knowledge of how to improve your cibil score as the payment history gives a monthly record of payments made by you in the past 36 months. It also shows a record of loans that you had previously taken and settled or defaulted on.

A red band on the left side of the report section indicates that the matter is under dispute. Once the dispute is settled, the band will be removed. The information under dispute can be changed after the dispute is settled. For this, the lender will have to send the revised information to the credit bureau. The credit bureau will not make any change in the information on its own.

Enquiry Section

This is the final section of your credit report. It details all the lenders who have made enquiries about you. It contains four columns – the lender’s name, the purpose of enquiry, number and the date on which the enquiry was made. Too many enquiries in a short duration of time would imply that you are credit hungry. This can have a negative impact on your credit score. There are two types of enquiries that are recorded in this section – hard enquiry and soft enquiry. Enquiries by lenders will be treated as hard enquiry and has a bearing on your credit score. Enquiries made by you will be taken as soft enquiry and does not affect your credit score.


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