Step-by-Step Guide to Download CIBIL Report for Free

Just like how your school’s mark sheet reflected your annual performance, the CIBIL report shows your financial track record and creditworthiness. It provides valuable insights into your borrowing and repayment behaviour. 

The CIBIL report has details of your loans, credit card accounts, etc. Each account has specific information like the amount of personal loan, repayment history, etc.

Your CIBIL report will also show your credit score. It is a number that reflects how trustworthy and reliable you are as a borrower. It is an assessment of your financial behaviour. The score ranges from 300 to 900. A higher score indicates a better credit profile.

What is CIBIL Report?

A credit report provides a detailed and comprehensive summary of an individual’s credit history. The credit report generated by CIBIL is known as CIBIL report. The report includes information like your credit score, ongoing loans, overdue loans, etc. It also displays your personal information like your name, phone number, and address. Credit agencies track all your credit-related activities to generate a score ranging between 300 to 900, also known as CIBIL score.

Why is the Credit Report Important?

Your credit report holds significant importance, not just for financial institutions but also for your own credit management.

Whenever you apply for credit with any bank or NBFC, your lender will assess your credit report to determine the risk associated with lending you money. Your credit limit, interest rate and other terms of borrowing you get depends on this. A high credit score and clean repayment history often becomes a gateway for getting high value loans with the best terms of borrowing. But that’s not all. Regularly tracking your credit report can help you improve your credit score and also report any financial irregularities.

Also Read: Why Opting For an NBFC Personal Loan is a Better Option?

How to Achieve a Good Credit Score?

A high credit score is a sign of healthy credit health and high creditworthiness. This can help you get instant access to credit whenever you need with the best terms of borrowing.

Here are some ways in which you can start building your credit score:

• Make sure you pay all your credit bills and EMIs on time.
• Reduce your credit utilization to 30% across all credit cards.
• Maintain a healthy credit mix of secured and unsecured loans.
• Avoid making multiple credit inquiries in a short period of time.
• Maintain your older credit accounts.
• Settle any outstanding debts.

Also Read: 8 Effective Strategies for Paying Off Your Debts

CIBIL’s Free And Paid Plans

You can get a free credit report once a year through CIBIL’s official website. With CIBIL’s paid subscription plans, you get unlimited access to CIBIL’s dashboard and regular updates on your CIBIL score and report. 

Its one-month subscription would cost you Rs. 550, 6 months subscription would cost Rs. 800 and for the 12 months plan, you would need to pay Rs. 1200.

Step-by-Step Process to Download CIBIL Report  

1. Visit www.cibil.com/freecibilscore

2. Click on ‘Get Your Free CIBIL Score 

3. Create your account by entering the required personal details. 

4. Click on “Accept and continue” and complete the verification 

5. Log in to your account using the credentials you set. 

6. Go to dashboard and click on ‘Check Score’.

7. Click on ‘View My Report’ to view your credit report.

8. Click on ‘Print Report’ to CIBIL report download in the form of PDF to your device. 

Benefits of Checking Your CIBIL Report

1. You Can Monitor All Credit Cards And Loan Details in a Single Place

By checking your CIBIL report, you can conveniently keep track of all your credit card and loan information. This makes it easier for you to have a clear picture of your overall debt. 

2. Helps You Correct Your Credit Score

Your CIBIL report contains information about your credit history, outstanding debts, repayment details, etc. By reviewing it, you can identify any errors or inaccuracies that could be negatively affecting your credit score. If you spot any mistakes, you can get them rectified and ensure that your credit score reflects your true creditworthiness.

3. Helps You to Maintain a High CIBIL Score

By reviewing your CIBIL report, you can identify areas where you can improve your credit score. For example, you may discover that you have a high credit utilization ratio on your credit card, which means you are using a large portion of your available credit. By understanding this, you can take steps to lower your credit utilization and show responsible credit usage, which can positively impact your credit score over time. 

4. Helps with Your Financial Goals

Reviewing your CIBIL report is a great step towards financial wellbeing. It allows you to have a firm understanding of your credit profile, identify areas for improvement, stay on top of your financial obligations, and work towards achieving your financial goals. By taking control of your credit and making informed financial decisions, you can set yourself up for long-term financial success. 

Also ReadHow to Get a Perfect 900 Credit/CIBIL Score?

Frequently Asked Question

What Are Cibil Credit Reports Used For?

Banks and NBFCs check your CIBIL report to decide whether or not to give you a loan and other credit products.

How To Get Cibil Report For Free?

As per the Reserve Bank of India, all credit information companies must provide one free credit report a year. For a free CIBIL report, go to CIBIL’s official website, create an account, complete verification, and click on “Get your Free Report.”

How To Resolve Cibil Credit Report Errors?

Fill out an online dispute form on CIBIL’s official website. Once you submit the form, the disputed field in your report will be marked “Under Dispute.” CIBIL will check the issue with the lender. You will get notified via email about the status of the dispute. Once this procedure is completed, CIBIL will make the necessary corrections in your CIBIL report.

What Is The Difference Between Cibil Report And Cibil Score?

A CIBIL report and a CIBIL score are two different things, but they are related to each other. A CIBIL report is a detailed record of your credit history. It includes information about your loans, credit cards, repayment history, and any defaults or late payments you may have made.

A CIBIL score is a numerical representation of your credit behaviour. It is a 3-digit number ranging from 300 to 900. A higher score means less risk for lenders.

How Can I Download My Credit Report From The Cibil App?

CIBIL doesn’t allow the user to download the credit report from its app. However, you can view the information within the app. Download the official CIBIL app, create your account, go to the “My CIBIL” section and tap on “View My Report.”

Can Everyone Access My Credit Score?

No, only you and the financial institutions where you apply for a credit product can access your credit score.

How Are All The Credit Reports Generated?

Financial institutions share your credit information with the bureaus like credit accounts (loans, credit cards, etc.), outstanding balances, payment history and defaults. The bureaus verify the accuracy of information and generate your credit report which shows a detailed breakdown of your credit history.

What Distinguishes A Credit Score From A Credit Report?

A credit score is a numerical representation of a borrower’s creditworthiness, usually between 300 and 900. Whereas a credit report has detailed information about an individual’s credit history.

How Is The Cibil Rating Determined?

Your CIBIL score is calculated on the basis of factors like payment history, credit utilization ratio, credit length, credit mix and new credit inquiries.

Can I Use My Pan Card To Check My Cibil Score?

Yes, you can check your CIBIL score for free from CIBIL’s official website or third-party websites entering your PAN and other information.

Why Does The Information From A Closed Credit Card Appear On The Credit Report?

The credit reporting bureaus usually include information on closed credit accounts too. This gives a more comprehensive understanding of your credit history.

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