Importance of CIBIL Report in Your Financial Life

We are living in a world with infinite leverage. Things have become so efficient in today’s times that if you need urgent money, a loan is just a click away. In the modern world, banks and non-banking financial companies provide different products such as home loan, personal loan, credit cards, car loan, etc. There is a crucial aspect that is attached with all these financial products known as the CIBIL report. Before understanding its significance, first, let’s understand what exactly is a CIBIL report. If we were to explain it in simple terms, a CIBIL report would be an individual’s history of credit card and loan EMIs, Bill payments, etc over a period.

Based on this CIBIL report, you get a three-digit score ranging from 300 to 900. This score is known as the CIBIL score. Here, the Credit Information Bureau of India Limited (CIBIL) is one of the leading credit bureaus of India. Others are Equifax, Experian, and CRIF Highmark. So, this three-digit score determines an individual’s creditworthiness. A score of 750 or above indicates that an individual always pays his or her debts on time and is considered to have a good score, while anything below 650 is considered to be a poor score.

In this article, we will be telling you how you can get your CIBIL report online to know your score. Keep reading to know more!

How to Check CIBIL Report Online?

Now that you have understood the importance of checking your CIBIL report, you must want to know how you can check your CIBIL report online. Well, here are a few steps that you can follow to do the same!

1. First of all, you need to visit the official website of CIBIL.

2. On reaching there, you will see ‘Get your CIBIL score’ flashing on that page. To know your report, you will need to click on this option.

3. As soon as you will click on this option, you will be redirected to a page. On this page, you will need to fill in a few personal details such as your name, email address, date of birth, identification type, number of this document, pin code, and mobile number.

4. After filling in these details, submit them. As soon as you will do that, you will be redirected to a new page where you will need to fill in some important details related to your finances such as existing cards or loans (if any).

5. As soon as you submit all these details, your application will be processed and your CIBIL report online will be sent to your registered email address as filled on the form.

Now that you know how to get your CIBIL report online, you should know what exactly does your report consists of? Well, there are a few key sections of the CIBIL report such as personal information, CIBIL Score, Contact information, Employment information, Account information, Enquiry Information, etc. Personal information on your report would have details such as name, date of birth, gender, PAN, passport number, etc. Employment information would consist of details such as your account type, annual income, frequency, income indicator, occupation, etc.

The account information section would consist of details like name of lenders, types of credit facilities (home, personal, gold, etc.), account numbers, date of the loan, date of last payment, loan amount, outstanding credit amount, and monthly record of all your transactions of the last 3 years.