In 2009 many borrowers in India were surprised to find that their loan applications had been rejected by the lending institutions citing bad credit history. The lending institutions in turn get a copy of borrowers' credit report from the Credit Information Bureau India Limited and determine whether they should lend money to borrowers based on this report.
Though the concept of credit reports is largely understood by Indian borrowers very few bother to get a copy of their own credit report.
Here's how you can get a copy of your own credit report if you are curious to know about your credit score/credit rating in India and save yourself the embarrassment of your loan being rejected in the New Year.
Introduction to CIBIL (Credit Information Bureau India Limited)
India's first credit information bureau is a repository of information, which contains the credit history of commercial and consumer borrowers. CIBIL provides this information to its members (companies) in the form of credit information reports. It collects commercial and consumer credit-related data from its members and other sources and collates such data to create and distribute credit reports to members so that they can make better and more informed lending decisions.
Credit Information Report (CIR)
It is the report prepared by CIBIL which contains following information about you (the borrower):
Basic borrower information like:
- Name
- Address
- Identification numbers
- Passport ID
- Voters ID
- Date of birth
- Records of all the credit facilities availed by the borrower
- Past payment history
- Amount overdue
- Number of inquiries made on that borrower, by different Members
- Suit-filed status
However the following information is not revealed:
- Income/Revenue details
- Amount(s) deposited with the bank
- Details of borrowers' assets
- Value of asset(s) mortgaged
- Details of investment(s)
How to get your CIR?
1. By e-mail
- E-mail the CIR request form (http://www.cibil.com/pdf/Consumer_Disclosure_Form.pdf) duly filled in to myreport@cibil.com
- Mail self attested hardcopies of your latest identity proof and address proof documents and fees to P.O. BOX 17, Millennium Business Park, Navi Mumbai -- 400710
- Once CIBIL receives the documents and fees, your request will be processed and copy of your CIR will be dispatched to you
2. Letter (only through Indian post)
- Write to CIBIL with the CIR request form (http://www.cibil.com/pdf/Consumer_Disclosure_Form.pdf) duly filled in
- Also mail self-attested hardcopies of your identity proof and latest address proof documents and fees to P.O.BOX 17, Millennium Business Park, Navi Mumbai -- 400710
- Once CIBIL receives the documents and fees, your request will be processed and copy of your CIR will be dispatched to you
3. Fax: 022-40789007
- Fax CIBIL the CIR request form (http://www.cibil.com/pdf/Consumer_Disclosure_Form.pdf) duly filled in
- Mail self-attested hardcopies of your identity proof and latest address proof documents and Fees to P.O. Box 17, Millennium Business Park, Navi Mumbai -- 400710
- Once CIBIL receives the documents and fees, your request will be processed and a copy of your CIR will be dispatched to you
Documents required
- Valid identity proof: PAN card/ Passport/ Voters ID (Mail self-attested hard copy of any one of these identity proofs)
- Valid address proof: Bank account statement/ electricity bill/ telephone bill (Mail self-attested hard copy of any one of these address proofs)
- Payment terms: Demand draft (DD) of Rs 142 (inclusive of all taxes and express delivery charge), in favour of Credit Information Bureau (India) Limited payable at Mumbai -- non-refundable
- Download CIR request form from here (http://www.cibil.com/pdf/Consumer_Disclosure_Form.pdf)
- E-mail for queries: consumerqueries@cibil.com.
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