Loan Types
Calculator
FAQs
Video
Rs. 40,000 - Rs. 55 lakh
You may be eligible for a pre-approved personal loan offer
Enter mobile number and OTP | Check free credit score
In Summary
CIBIL correction is important for maintaining an accurate credit report and ensuring your credit history reflects the correct information. Reviewing your credit report regularly can help you identify and resolve errors before they affect your credit profile.
- Check your credit report for incorrect personal, account, or repayment details.
- Raise a dispute with CIBIL and provide the required supporting documents.
- Monitor the dispute status until the verification process is completed.
- Review your updated credit report to confirm that the corrections have been made.
Timely CIBIL correction helps maintain an accurate credit record, supports better credit decisions, and can improve your chances of qualifying for loans and other credit products.
Financial institutions regularly share your credit and repayment information with CIBIL, which uses this data to maintain your credit report and calculate your credit score. If your report contains incorrect personal details, duplicate accounts, or inaccurate loan information, it may affect your credit profile and borrowing opportunities. Understanding the CIBIL Score correction process helps you identify and rectify such errors. You can raise a CIBIL correction request online by submitting a dispute with the required supporting documents and tracking it until the information is verified and updated.
Why do errors in your CIBIL report matter?
Errors in your credit report can affect your credit score, loan approvals, and overall creditworthiness, making CIBIL correction important for maintaining an accurate credit profile. Incorrect information may create a misleading picture of your repayment history and financial behaviour, even if you have managed your credit responsibly. Identifying and correcting such errors at the earliest helps ensure lenders assess your application using accurate information.
- Incorrect personal or account details can lead to verification issues.
- Duplicate or wrongly reported loan accounts may affect your credit score.
- Inaccurate repayment records can reduce your chances of loan or credit card approval.
- Timely CIBIL correction helps maintain an accurate credit history and improves the reliability of your credit report.
4 simple steps to rectify errors in your CIBIL report
-
Step 1: Retrieve the CIBIL report
Before you learn how to correct your CIBIL score or how to clear CIBIL problems, check the issue at its root. Start by downloading your latest credit report. You can buy your CIBIL credit report via a subscription plan.
-
Step 2: Check the report thoroughly to spot the problems
To proceed with CIBIL rectification, you will have to check your CIBIL report with care. Begin by checking the status of your credit accounts. Here each account will have a tag next to it. In case you have settled your dues for a particular account, you will see a settled or closed tag. On the other hand, your ongoing debts will be earmarked as open. Spot incorrect entries to report them.
-
Step 3: Report problems to CIBIL
To attempt a CIBIL score correction for better chances of getting a personal loan, you’ll need to initiate the dispute resolution process through the CIBIL portal. Simply follow the on-screen instructions to report your dispute, fill out the resolution form, and clearly mention the issues you want reviewed. Support your claim with valid evidence and submit the form along with the necessary documents. This process can help correct errors and improve your credit score, increasing your chances of personal loan approval. Check your eligibility for personal loan using just mobile number and OTP – 100% online process.
-
Step 4: Wait for verification
When you report your CIBIL issues, the agency is likely to respond to you within 30 days after investigating your assertions. In order to verify your claims, CIBIL may contact your lenders and you. After thorough verification and assessment, CIBIL authorities will initiate the necessary corrections and will rectify your report as per authentic data.
After you complete the process to how to correct CIBIL report, your credit report is generated again with the updated information, and your credit score may improve. A good credit score can strengthen your loan eligibility and help you access competitive personal loan interest rates. You can also complete CIBIL correction online through a simple process and apply for a personal loan with faster approval and disbursal, subject to the lender's eligibility criteria.
✅ Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.
How long does it take to update a corrected CIBIL report?
A corrected CIBIL report is usually updated after the disputed information has been verified by the concerned lender and processed by CIBIL. The exact timeline can vary depending on the complexity of the dispute and how quickly the lender responds to the verification request. Once the verification is complete, the corrected information is reflected in your CIBIL report. You can track the status of your dispute through the CIBIL portal until the update is completed.
What to do if your CIBIL dispute remains unresolved?
If your CIBIL dispute remains unresolved after the verification process, you should follow up with the concerned lender and CIBIL to understand the reason for the delay or rejection. In many cases, disputes remain pending because additional verification or supporting documents are required. Taking timely action can help resolve the issue and ensure your credit report reflects accurate information.
- Check the dispute status regularly on the CIBIL portal.
- Contact the concerned lender to confirm the information submitted to CIBIL.
- Provide any additional documents requested during the verification process.
- If you believe the issue has not been addressed fairly, use the grievance redressal process available through CIBIL or the concerned financial institution.
- Keep copies of all communication and supporting documents for future reference.
Monitoring the progress of your dispute and responding promptly to requests can help speed up the resolution process and improve the accuracy of your credit report.
Tips to prevent CIBIL Score errors in future
- Regularly check your credit report to identify any discrepancies early.
- Pay all loans and credit card bills on time.
- Keep your personal information updated with lenders.
- Dispute any errors promptly through official correction channels.
- Maintain a healthy credit utilisation ratio.
- Monitor your credit profile periodically to ensure accuracy and reliability.
Common errors leading to a wrong CIBIL Score
| Common error | Impact on your CIBIL score | How to resolve |
|---|---|---|
| Incorrect personal information | May lead to identity verification issues and incorrect credit records. | Raise a dispute with CIBIL and submit valid identity proof to update the incorrect details. |
| Duplicate loan or credit card account | Can increase your reported debt and negatively affect your credit profile. | Report the duplicate account to CIBIL and request verification with the concerned lender. |
| Incorrect repayment status | May lower your CIBIL score if timely payments are reported as delayed or missed. | Contact the lender with repayment proof and request them to correct the information. |
| Closed loan marked as active | May incorrectly increase your outstanding liabilities and affect future loan applications. | Submit the loan closure proof and ask the lender to update the account status with CIBIL. |
| Incorrect outstanding balance | May misrepresent your financial obligations and impact your creditworthiness. | Request the lender to verify and update the outstanding amount with the correct records. |
| Unauthorised or unknown loan account | Can negatively affect your credit score and may indicate identity misuse. | Raise a dispute with CIBIL immediately, inform the concerned lender, and provide supporting documents for investigation. |
Also check
Key offerings: 3 loan types
Personal loan interest rate and applicable charges
Type of fee | Applicable charges |
Rate of interest per annum | 10% to 30.5% p.a. |
Processing fees | Up to 4.13% of the loan amount (inclusive of applicable taxes). |
Flexi Facility Charge | Term Loan – Not applicable Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes) |
Bounce charges | Rs. 700 to Rs. 1,200/- per bounce “Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason. |
Part-prepayment charges | Full Pre-payment:
Part Pre-payment
|
Penal charge | Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Stamp duty (as per respective state) | Payable as per state laws and deducted upfront from loan amount. |
Annual maintenance charges | Term Loan: Not applicable Flexi Term (Dropline) Loan: Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.
Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure |
| Credit guarantee scheme fee | Up to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount |
| Credit guarantee scheme renewal fee | Up to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year. *Renewal Fee to be collected only for 3 subsequent financial years. **If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated. |
Not your nearest branch?
Related articles
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000