How to Read CIBIL Report?

You can learn how to read the CIBIL report through the explanation I am about to share. Your CIBIL report contains 6 sections, such as the CIBIL score, personal information, contact information, employment information, account information, and enquiry information. I am sharing details about each of these sections to help you understand the reading process. So, let me get started.

How to Read CIBIL Score Report?

Here is how you can read your CIBIL report.

• CIBIL SCORE:

  You’ll see your CIBIL score in this area, which is a three-digit number ranging from 300 to 900. A good score is considered 700 and above, but banks usually prefer 750 as the safe score if you are looking to take a loan. The number is calculated based on the details in the ‘Accounts’ and ‘Enquiry’ sections of the credit report.

• PERSONAL INFORMATION:

  Here, you will find all of your personal details, including your name, DOB, and gender as shared with CIBIL by the distinct members. In the ‘Identification Type’ under personal information, you will see your details like the Income Tax ID (PAN), Passport Number, Driver’s License and the Voter ID.

• CONTACT INFORMATION:

  In this, your telephone, address, phone number and email address are registered. The address category specifies whether the written address is residential, official or permanent. Here, at max 4 addresses and emails are provided. 

• EMPLOYMENT INFORMATION:

  CIBIL provides the details related to your occupation and income, which is the data taken at the time of opening a credit facility as shared by you for the specific credit account.

• ACCOUNT INFORMATION:

  This is the most crucial section of your report where the loan and credit card information are specified. Here, the lender’s name, the credit facility, account number/s, whether held singly or jointly, opening date of each account, last payment date, loan amount, current balance, overdue amount (if any), and a month-on-month record for up to 3 years of your payment are shared. 

• ENQUIRY INFORMATION:

  Here, you will find all the enquiries made by you as a lender for the different credit applications. You will find the name of the lender, application date, loan type and size under the heading. 

• RED BOX:

  A red box appears just above the ‘Account Details’ if the account information section is under dispute. This box will be taken down when the dispute gets closed. But, the dispute information may or may not undergo any change after the closure. 

So, this is How to read the CIBIL report. If you want to understand the terminology used in the report, you can visit this

. I hope you now know how to read your CIBIL report.

The CIBIL (Credit Information Bureau India Limited) Report is a vital document that displays an individual's financial credit history. It assists banks and other financial institutions in determining whether to approve or reject a loan or credit card application submitted by a person. The report includes payment history, credit utilisation, and outstanding bills. Scroll down to understand how to read CIBIL report.

How to Interpret CIBIL Report?

To get loans, you must keep up a strong credit history and make sure that it appears in your CIBIL report. I have downloaded my report through the

. 

Check out how to read CIBIL Score Report below:

• CIBIL Score:

  Your credit score is displayed in this section. Loan providers use this to assess loan applications. A CIBIL Score, which varies from 300 to 900, is determined using the "Accounts" and "Enquiry" sections of the credit report. A good credit score is greater than 750. 

• Personal Information:

  Your name, date of birth, gender, and identity proof, as recorded with CIBIL are all included in this section.

• Contact Information:

  It contains your phone numbers, address, and email addresses. A maximum of 4 address is listed along with landline and mobile number. 

• Employment Information:

  Your occupation and income (as given during the opening of a credit facility) are mentioned in this section.

• Account Information:

  This section comprises the lender's name, types of credit facilities (home, personal, etc.), account number, ownership data, account opening and last payment dates, loan amount, current balance, and your monthly payments record of the past three years.

• Enquiry Information:

  It indicates that a credit institution has sought your CIBIL credit information. If you make many inquiries in a short period, lenders will be careful of your account and credit-seeking habits.

• Red Box:

  The red box lists the fields where disputes are currently pending. It will be removed from the report once the conflict gets resolved or closed.

I hope your query on how to read cibil report got resolved.