Cibil report
A Credit Score or the CIBIL Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIR. A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time. A CIR does not contain details of your savings, investments or fixed deposits.
A CIR has detailed information on the credit you have availed, such as home loan, automobile loan, credit card, personal loan, overdraft facilities.
various details of CIR. Below are the key sections of the CIR
  • CIBIL Score
Your current credit score, calculated based on your credit behaviour as reflected in the ‘Accounts’ and ‘Enquiries’ section of your CIR, ranges between 300-900. A score above 700 is generally considered good.
  • Personal information
Contains your name, date of birth, gender and identification numbers such as PAN, passport number, voter’s number
  • Contact Information
Address and telephone numbers are provided in this section, up to 4 addresses are present
  • Employment Information
Monthly or annual income details as reported by the Members (Banks and Financial institutions).
  • Account information
This section contains the details of your credit facilities including name of lenders, type of credit facilities (home, auto, personal, overdraft, etc.), account numbers, ownership details, date opened, date of last payment, loan amount, current balance and a month on month record (of up to 3 years) of your payments.
  • Enquiry Information
Every time you apply for a loan or credit card, the respective Bank or financial institution accesses your CIR. The system makes a note of this in your credit history and the same is referred as “Enquiries”
For individuals purchasing the CIBIL Trans Union Score [and CIR]
  • Valid Passport.
  • Driver's Licence.
  • Aadhar Card.
  • Telephone bill.
  • Electricity bill.
  • Bank Statement.
The fee charged and payment can be made either by using your credit card, debit card or through net banking. After the payment is done, you will have to submit a few authentication details. Once, authentication is successfully completed, you will get your CIBIL score via e-mail within 24 hours.
few factors that are affected by your CIBIL report or score.
  • Credit card approval-A low or bad CIBIL score can dampen your odds of getting a credit card. More so, if you have previously defaulted on any of your cards, as this would have been recorded in the CIBIL report, and banks do not take such incidents in positive light. Only a decent CIBIL can tip the odds in your favour, resulting in easy issuance of credit cards.
  • Loan approval-Your CIBIL score is a direct indicator of your creditworthiness to the lender. So, it’s safe to assume that a good score will get you the loans and a bad one doesn’t.
  • Interest rates-The mantra is simple,the higher your CIBIL score, the lower will be your interest rates. This is because a good CIBIL score or report will set you up for competitive interest rates on loans and credit cards, and it also lets you negotiate the terms.
  • Housing-An attractive housing loan can easily be availed through a good CIBIL score. You can even rent a place with a decent score.
  • Approval for higher limits-Financial institutions and banks favour individuals with higher CIBIL scores. So, the higher your s CIBIL score, the higher yours credit limit.