TransUnion CIBIL Limited is India’s first credit information company and is known to collect and maintain credit reports. All information about your online personal loan, credit card, secured loans such as home loan and other credit activities is regularly obtained and monitored by CIBIL through its affiliated partners in financial institutions.
CIBIL’s key role is to provide a database to all lenders that helps decide the creditworthiness of a credit applicant or borrower. So, checking your CIBIL score can help you determine your eligibility for credit beforehand and reduce the chances of your application being rejected.
Additional Read: 7 guaranteed ways to improve your CIBIL score
Moreover, having a high credit score of 750 and above ensures that you will not only get your loan application processed fast, but also get a loan amount on your terms and pay a nominal interest rate.
How to check your CIBIL score
You can check your credit score and report online as well as offline.
Steps to check CIBIL score online
- To check your CIBIL score online, log on to the website by clicking here
- Click on ‘Get your CIBIL score’ on the top right-hand corner of the page
- Choose your membership package of 1 month, 6 months, or 1 year and pay the corresponding fee
- Register as a member by filling in your details
- Once your account is created, you will be able to check your CIBIL score and report
Additional Read: How CIBIL score is calculated
Steps to check CIBIL score offline
- Download the form from the CIBIL website or click here
- Fill in your details accurately
- Attach a demand draft in favour of TransUnion CIBIL. The amount of the demand draft is as follows:
- Rs. 550 for CIBIL score and CIBIL report
OR - Rs. 164 for CIBIL report only
- Mail the form with the demand draft to the following address:
TransUnion CIBIL Limited,
One Indiabulls Centre,
Tower 2A, 19thFloor, Senapati Bapat Marg,
Elphinstone Road, Mumbai - 400013 - Your detailed CIBIL report and score will be mailed to your address
How to check your CIBIL score for free
There are several ways that you can access your credit score for free:
Check your credit score with CIBIL’s official website
CIBIL allows you to check your credit score for free once in a year. Here are the steps you need to follow:
- Log on to the website by clicking here
- Click on 'Get your free CIBIL score'
- Fill out the following personal information and click on 'Accept and Continue'
- Email address
- Create a password
- First name
- Last name
- ID type
- ID number
- Date of birth
- Mobile number
- Verify your identity – CIBIL will send you an OTP, or it may ask you for more details to verify it is you
- Get your free CIBIL score with a free CIBIL report
Additional Read: What is the minimum CIBIL score required for a personal loan?
Check your credit score for free with Bajaj Finserv
Bajaj Finserv, one of India’s leading NBFCs, also allows you to perform a free CIBIL check. Simply visit the Bajaj Finserv website and enter your basic details to check CIBIL score for free.
What is a credit report and what is its importance?
Your CIBIL credit report contains your entire financial history. It catalogues the previous loans you have taken and records your repayment of them. If you missed an EMI or defaulted on a loan, it will be recorded in your credit report. Your credit report also records your usage of credit cards, and whether you have been paying their bills on time.
A record of a missed payment or default in your credit report indicates that you do not have a reliable history of repaying the credit you borrow. When lenders evaluate your report, a record like this, coupled with a CIBIL score below 750, can mean that your loan application will get rejected. Even if you get a loan, you may be charged a high interest rate on it to reduce risk to the lender.
On the other hand, a credit report that indicates that you have a steady repayment history, and have a credit score over 750, will make a favourable impression on lenders. It will enable you to get a loan at a nominal interest rate.
Easy tips to boost your CIBIL score
If you find that your CIBIL score is less than ideal, you can take measures to improve it. Here are some easy ways to increase your CIBIL score:
- Pay your EMIs on time to ensure you seem financially responsible
- Don’t max out your credit cards as you may seem credit dependant
- Balance out your credit mix with secured and unsecured loans
- Check your CIBIL report once you finish repaying a loan to ensure that any closed loan accounts are not listed as still unpaid
Now that you are better informed about your CIBIL score and report, focus on maintaining your financial health. This will help you borrow funds when you need them most and fulfil your personal and professional goals with ease.
Additional Read: How to get a personal loan when you have a bad CIBIL score
Apart from offering loans with easier eligibility criteria, Bajaj Finserv also brings you pre-approved offers on both secured and unsecured loans. Save time and have a hassle-free financing experience with Bajaj Finserv. Check your pre-approved offer today.
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