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 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. 

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 save the PDF of your credit report 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.  

Frequently Asked Questions about CIBIL Reports

1. 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.  

2. 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.”   

3. 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.

4. 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.