Financial institutions and banks trust CIBIL to check the credit report of individuals who wish to apply for a credit card or loan. Individuals and companies can also check their credit reports on CIBIL by completing the registration process and logging in.
CIBIL Registration – Individuals(Consumers)
The procedure that individuals must follow in order to complete the registration process on CIBIL is mentioned below:
- Visit cibil website
- Click on ‘Get Your CIBIL Score’.
- Choose the type of subscription on the next page. Three subscription options (Basic, Standard, and Premium) are offered.
- On the next page, you will need to enter details such as the email ID, first name, last name, ID type, ID number, date of birth, pin code, and mobile. You will need to create a password as well.
- Agree to the terms and conditions and click on ‘Accept and Continue’.
- Next, you will need to ‘Verify your Identity’.
- Once the verification process has been completed, you must complete the payment procedure.
- Once the payment has been made, you can log in to the account to check the report.
CIBIL Login – Individuals(Consumers)
The procedure that individuals must follow to log in to their CIBIL account is mentioned below:
- Visit cibil website
- Click on ‘Get Your CIBIL Score’.
- Click on ‘Member Login’.
- Enter the username and password.
- Click on ‘Enter’ to complete the login procedure.
CIBIL Registration – Companies
The procedure that companies must follow to register their CIBIL account is mentioned below:
- Visit the CIBIL Rank Website
- Next, you will need to enter details about your company such as the name, entity type, ID type, ID value, and GSTN value.
- Next, enter the address and contact details.
- Agree to the terms and conditions and click on ‘Submit & Continue To Step 2’.
- Next, you must choose a subscription plan and make the payment.
- You will receive the transaction ID (payment) and a distinctive CIBIL Registration ID on your email.
CIBIL Login – Companies
The procedure to log in to the CIBIL account is mentioned below:
- Visit this CIBIL Rank Website
- Click on ‘Login’.
- Enter the email ID and click on ‘Next’.
- Follow the steps on the next page to complete the login procedure.
CIBIL Registration Documents
The list of documents that must be submitted by individuals and companies will be different and are mentioned below:
Companies
Proof of Address: The below-mentioned documents can be submitted as proof of address:
- Telephone bill
- Electricity bill
- Bank account statement
Individuals
Proof of Address: The below-mentioned documents can be submitted as proof of address:
- Telephone bill
- Electricity bill
- Bank statement
- Aadhaar Card
- Driver’s License
- Passport
Proof of Identity: The below-mentioned documents can be submitted as proof of identity:
Procedure to Upload Documents
The procedure to upload the relevant documents on the official website of CIBIL is mentioned below:
- Visit the cibil website.
- On the next page, choose the relevant option and click on ‘Submit’.
- In case you have selected ‘CIBIL Score and CIR’, you will need to enter the email ID and date of birth. The relevant identity proof and address proof must be uploaded. Click on ‘Submit’.
- In case you have selected ‘CIBIL Rank' and ‘Company Credit Report’, you will need to enter the email ID and company ID or DD number and company ID. You must upload the document in the required format and click on ‘Submit’.
Once you have registered on the official website of CIBIL, you will receive updates on the CIBIL report and score on a regular basis. Based on your credit score, pre-approved loan offers may be provided. You can also clear any errors that are mentioned in the credit report.
What is CIBIL Rank?
Just like individuals get a CIBIL score, companies get a CIBIL Rank. This summarises the Commercial Credit Report (CCR) of the company.
A rank will range from 1 to 10. 1 is the best rank. This is applicable to companies with credit exposure which is between Rs.10 lakh and Rs.50 crore.
The rank will indicate the probability of the company missing payments. Lenders can look into the rank to decide if they should lend funds to the company.
Benefits of Registering on myCIBIL
myCIBIL is a platform of CIBIL for all customers to get updates on their CIBIL score and report.
- The site gives discounts if you log in to the myCIBIL portal and access your credit report.
- You will get online access to your CIBIL score and report.
- You can also get pre-approved loan offers at competitive rates.
- There is a dispute resolution platform which allows you to request for rectification of errors.
Components of Your CIBIL Report
| CIBIL Score | The score generally ranges from 300 to 900. If you have a CIBIL score closer to 900, the higher are your chances to get a credit card or a loan. |
| Personal Information | Your name, date of birth, gender, and ID numbers like your PAN, voter ID number, and passport number will all be included in your CIBIL report. |
| Contact Information | This has your phone numbers and also your addresses. You can add a maximum of 4 addresses. |
| Account Information | The section has information like your credit products like kind of credit (loan, credit card), name of lenders, loan amount, account numbers, monthly record of payments. |
| Enquiry Information | Every time you apply for a credit card or a loan, the financial institution/bank will access your CIBIL report. The enquiries will be listed in the report and have the vendor’s name, date of application, credit type, and amount of credit applied. |
Terms in a CIBIL Report
| Term | Meaning |
|---|---|
| SF/WD/WO/SETTLED | This means that your credit account is Suit Filed/Wilful Default/Written Off/Settled |
| Closed | These are for credit accounts that have 'Date Closed' |
| ACTIVE* | Accounts that are less than 90 days past due |
| ACTIVE** | Accounts that are more than 90 days past due |
| DPD | This means ‘Days Past Due’. This is the number of days that have lapsed from the due payment date |
| DPD ‘0’ | '0' is that the Payment made as agreed and also means that the credit account is up to date |
| DPD>0 | The number in the circle means the ‘Days Past Due’ |
If the below mentioned alphabets are displayed on the DPD table, it means that the lender is reporting an Asset Classification:
| Term | Meaning |
|---|---|
| S: Standard | According to the RBI guidelines, this is an account which is overdue for less than 90 days and is a ‘Standard asset’ |
| B: Substandard | This is an account which is overdue by 90 days (for a period of less than or equal to 12 months), and is a ‘Substandard asset’ |
| M: Special Mention | This account is a ‘Standard’ asset but are monitored by the lending agency |
| D: Doubtful | This is an account which is overdue by 90 days for more than 12 months and has been categorised as a ‘doubtful asset’ |
| L: Loss | This an account where loss has been determined, but the amount has not been written off (wholly or partially) and is 'Loss asset’ |
Eligibility to Check Your CIBIL Score
- If you have taken a credit card or a loan in the past, you will have a CIBIL Score.
- If you have not taken any credit product, you will be known as ‘new to credit’ and will not have a credit score
- You need to have a valid PAN card to be able to check your credit score.
How is Your CIBIL Score Calculated
Your CIBIL score will be calculated using your credit history in the CIBIL report. This will reflect your frequency in applying for loans or credit cards, secured and unsecured credit, and also, credit repayment history.
| Loan Repayment History | Making timely payments can easily increase your credit score. Any default in your EMIs or making late payments will affect your CIBIL score. |
| Duration of Credit History | The duration of your credit history will affects your score, and if you have used credit products for a long time, and made timely payments, you will have a high credit score. |
| Number of Hard Inquiries | When you ask for credit, a lender may run a hard inquiry to see your credit score. Your credit score may be badly impacted by these harsh inquiries. |
| Credit Utilization Ratio | This is the ratio of the credit amount that you spend to the credit amount that is actually available to you. You should not use more than 30% of your credit. |
| Credit Mix | You should have a good mix of secured and unsecured loans. Having one as a greater proportion can be unfavourable. |
| Errors in Credit Report | Errors in your CIBIL report like wrongly assigned loans, incorrect mention of default in repayments, errors in personal information can affect your CIBIL score. |
| Lack of Credit History | Your credit score is calculated based on your credit history. If CIBIL assigns you a ‘New to Credit' tag, it will be difficult for the lender to determine your risk. |
How Does Your CIBIL Score Impact Your Loan Eligibility
Before granting you a loan, a lender will first consider your CIBIL score. The lender has the right to reject your application if your CIBIL score is poor. Lenders will investigate additional information to determine your creditworthiness if your CIBIL score is quite high. Therefore, having a high credit score will improve the likelihood that your loan application will be accepted.
When you apply for new credit, more than only your CIBIL score is taken into account. Your employment history, debt to income ratio, and line of work will all be factors considered by lenders.
Benefits of a Good CIBIL Score
- When you have a high credit score, you are more likely to get lower interest rates on your loans.
- The chances of loan applications being approved is higher.
- You will have access to pre-approved loans.
- Your credit cards and loans will be approved quickly.
- You will get a discount on your processing fee.
Difference Between CIBIL Report and CIBIL Rank
| CIBIL Report | CIBIL Rank |
|---|---|
| A credit score ranges between 300 and 900 | Your credit rating will rank between 1 and 10 |
| This is a record of your repayment history of loans and credit cards bills | This is a record of your repayment of loans of a business |
| A score which is closer to 900 is a good score. | Companies that have a credit rating of 1 are preferred |
CIBIL Customer Care
Online:
- Visit official website
- Select ‘Contact Us’
- Choose ‘To Contact Us Online’
- Choose ‘Click here’
- Type in the required information
- Click on ‘Submit’
By Phone:
You can call 91-22-6140-4300 from Monday to Friday. You can call this number between 10:00 a.m. and 6:00 p.m.
Fax:
You can contact the customer care via fax at 91 - 22 - 6638 4666
Visiting the office:
You can visit the office or write to the company at: TransUnion CIBIL Limited One Indiabulls Centre, Tower 2A, 19th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013
FAQs on CIBIL Login and Registration
- Will my CIBIL score change?
- For what amount of time are all the credit factors available on my credit report?
- Will checking my CIBIL score affect it?
- How can my CIBIL score be registered?
- Is a CIBIL account free to avail?
- What is considered a good CIBIL score?
- What is the full form of CIBIL?
Yes, if there is a change in any factors that affect your score, your CIBIL score can change. Any late payment and using more than the available credit on your card can change your credit score.
Your CIBIL report will have details like your credit cards, loans that you have had for the past 5 to 7 years. The information related to your credit card and loan include credit repayment track record, credit limits, number of credit checks performed by lenders.
No, when you check your credit report or CIBIL score, it will be a ‘soft inquiry’ and this does not affect your CIBIL score. This is true even if you are just checking the credit bureau’s credit score or report. A ‘hard inquiry’ that is made by financial institutions or banks will affect your credit score.
You can register your CIBIL score by visiting the official website of CIBIL.
Yes, a CIBIL account is free to avail.
A score above 700 is usually considered a good CIBIL score.
The full form of CIBIL is Credit Information Bureau (India) Limited.
TransUnion CIBIL is one of the leading credit information companies in India. The company maintains one of the largest collections of consumer credit information in the world. CIBIL Score plays a key role in the lives of consumers. Banks and other lenders check the CIBIL Score of the applicants before approving their loan or credit card application. Consumers can visit the official website of CIBIL to check their CIBIL Score and Report. CHECK YOUR CIBIL SCORE now.
