Recently RBI made it mandatory to provide one free annual credit report to individuals. Now based on this, you can check CIBIL credit score online for free. This I think the best move.
Even now other credit rating agencies like Equifax or Experian also started to provide this facility. This free facility will be available from 1st Jan, 2017.
CIBIL is the Credit Information Company (CIC) founded in August 2000. Along with CIBIL, there are few more like Equifax or Experian. The full form (or long form) of CIBIL is “Credit Information Bureau of India Limited”. This is India’s first credit information company.
It collects and maintains records of an individual’s payments related to loans and credit cards. These records are submitted to CIBIL by banks and other financial institutions, on a monthly basis. This information is then used to create Credit Information Reports (CIR) and credit scores which are provided to credit institutions in order to help evaluate and approve loan applications. CIBIL was created to play a critical role in India’s financial system, helping loan providers manage their business.
Such information is later used to create Credit Information Reports (CIR) or credit scores which are provided to credit institutions and individuals. This will helps to evaluate or approve the loan of individuals.
A credit score is a number that shows an individual’s creditworthiness. Usually, banks or lenders use this credit score to evaluate the probability of whether an individual repay his debts or not.
Hence, this is one of the utmost criteria that to keep higher credit score. It contains below reports.
Now you completely understood the importance of credit score. Also, you may now be feeling happy that RBI made it mandatory to all Credit Information Companies to provide one credit report a year at free of cost.
Below I will explain you the procedure of how to check CIBIL credit score online for free.
# Visit Free CIBIL Report Score Page. This homepage looks like below.
In this page, at the lower side, you will find the line “Click here to try your Free Annual CIBIL Score & Report“. Click on this.
# The new window will open where you have to provide your Email Address, Date of Birth, Gender and also PAN card number. Then click on Submit tab after entering the Captcha and also clicking on to accept the terms and conditions. The screen looks like below.
# Once click on Submit tab, the next screen looks like below. Here, you have to fill your full name, identify proof you submitted (PAN number) and provide your address and contact details as below.
# Once you fill above data and click on Submit tab, then the pop-up window will open. Here, you have to click on “No, thanks”.
# A congratulation message will pop-up as below and requesting you to login to myCIBIL.
# Now you have to go to myCIBIL login page.
# Once you log in, then you will get the below home screen where you will notice your credit score as below.
# Under View Report you are able to see personal information, contact information, Account information (existing and past credit history) and Enquiry information (list of banks who asked for your credit report). The screen looks like below.
This is how you can check CIBIL credit score online for free. Hope this information will be helpful to you all in understanding and analyzing your credit score in a better way.
750-900-Excellent Score and indicates the healthy financial life of an individual in repaying his credit. You will get loans at competitive price
700-750-Fiar enough but can get loan will less competitive price.
550-700-Low score and indicates delays or irregularities in repayments in the past.
300-500-Lowest score and indicates irregular payment history.
I have already written a post regarding how to improve your score. Refer the same at “How to improve CIBIL Credit score?“.
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View Comments
Hi Basavraj,
After getting one free report, I tried to access another free report by existing credentials, after one year, and but it's redirecting to payment page, not showing cibil score? Why is it so?
Dear Mudit,
I don't think so. Check when you last downloaded.
Hi Basu,
When we say one report per year, the year is financial year APR-MAR or a normal year JAN-DEC.
Regards,
Nicolas
Nicolas-It is the financial year.
Thanks Basu
Don't ever go with free policy gimmick by paisabazaar it will affect your credit score.
Ashish-Thanks for sharing your views. But may I know how it will affect one's credit score?
Hi,
Thanks a lot for the information , i tried both paid and free approach to get my CIBIL score.
I was thru with all the steps you mentioned, but i dint get " A congratulation message will pop-up as below and requesting you to login to myCIBIL." instead i got
"We are unable to authenticate you online at this time.
For us to confirm your Identity and Address Proof and process your request, please upload your ID and Address Proof at https://www.cibil.com/submitpersonaldocs/consumerkycUpload.action?id=6287fbd9-6f94-4fe8-8a03-66b199a0cac4"
As mentioned i have uploaded KYC documents, so when can i expect my report shared ? please help me i am in need to get Home loan, which is pending because of some loans on my name which actually i dont have
Kalpana-It usually takes 1-2 days. If still they not update your KYC, then call them personally and make sure that you get it. If CIBIL not providing you that, then you can do the same with other credit reporting agencies like Experian, Equifax or Highmark.
Just realized yesterday, after an email from CIBIL, that my (free) subscription on myCIBIL website expires early next month, i.e. only 3 months of FREE subscription. Isn't this against RBI guidelines, which makes it mandatory for CIBIL to provide ONE FREE Credit Report to an individual per year ? Does it mean I have to become a paid member of CIBIL to avail my Credit Report next year ?
Ramesh-Whether you are CIBIL subscriber or not, one FREE report condition apply to you also.
Hi Basu,
I have one question: Is the Credit Report giving by Paisabazaar.com is equivalent to CIBIL?
Can you please check and confirm? I checked their but don't know where it is acceptable by banks or not. Please help.
http://www.paisabazaar.com/cibil-credit-report/
Puneet-Why to rely on middlemen then CIBIL itself providing you the report at free of cost once in a year? Also, such middlemen may use your data for their own marketing usage. Hence, never rely upon.
Nice post.... i check my cibil score for free...... but its once a year..... in my login area how will i come to know when i am eligible to access my next free report ?
Sunil-In the next Financial Year.
Mr Basavaraj - After referring to my Credit Report on CIBIL website in Feb'17 (after I read your original post) I Raised Dispute through my login on their website for critical changes in my PAN & Bank details. It's been almost 2 months and I haven't got any response to my disputes. I did get an email from CIBIL when I raised the Disputes online, and was assured that it would be resolved by concerned organizations within 30 days. However, even today when I checked the "Dispute Status" option within my login on CIBIL website, it mentions it as "closed" while my CIBIL Report remains the same online. I also tried reaching them on 022-66384600 (mentioned in their email as their Tel. No.) but it simply keeps ringing after getting "transferred to operator".
Would be helpful if you can provide email ID &/ contact nos of CIBIL where I can follow up on my Disputes raised online. Emails offering loans etc have increased after I regd myself on CIBIL in Feb'17 for the Free Credit Report, so seems they are only concerned about soliciting business, and want people to opt for paid membership with 'additional features'.
Ramesh-The only information that I too having is ONLY whatever contact details they explained in their portal.
Although i was able to download the report and see the score i am not clear how the score has been worked out. Can one contact cibil vide phone to understand how the calculation has been arrived at. I feel the cibil score is on the lower side.
Any-You can through email.
This information is really very very helpful.
Thanks Basavaraj for creating the awareness.
I regularly follow your blog.
It really helps a lot..