How to read CIBIL’s credit report?
CIBIL’s Credit Information Report (CIR) is one of the useful tools for making credit decision by the lenders. Besides CIR of the borrower, the lender may call for CIR of all the partners, promoters, directors and guarantor to the loan. The CIBIL would supply individual credit information report on each person (including the juristic person) in 5 sections which are as under.
1. Credit scores: 3 digit scores awarded by CIBIL on the basis of accounts and enquiry.
2. Personal information/Identification details: PAN card, Passport, Driving License, voter id, aadhar card etc.
3. Employment information: as reported by the lenders at the time of opening particular loan account/credit card account with them.
4. Enquiry: This section provides with the details regarding the type of loan, size of the loan, date of the loan application etc.
5. Account information: furnishes the details of existing loans and credit card facilities, the name of the lender/s and date of opening each loan account, loan amount, current balance, over dues if any. This section also displays the month on month record up to 36 months of repayments.
CIBIL’s Credit Information Report (CIR) is one of the useful tools for making credit decision by the lenders. Besides CIR of the borrower, the lender may call for CIR of all the partners, promoters, directors and guarantor to the loan. The CIBIL would supply individual credit information report on each person (including the juristic person) in 5 sections which are as under.
1. Credit scores: 3 digit scores awarded by CIBIL on the basis of accounts and enquiry.
2. Personal information/Identification details: PAN card, Passport, Driving License, voter id, aadhar card etc.
3. Employment information: as reported by the lenders at the time of opening particular loan account/credit card account with them.
4. Enquiry: This section provides with the details regarding the type of loan, size of the loan, date of the loan application etc.
5. Account information: furnishes the details of existing loans and credit card facilities, the name of the lender/s and date of opening each loan account, loan amount, current balance, over dues if any. This section also displays the month on month record up to 36 months of repayments.
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