The RBI has mandated that credit bureaus like CIBIL should provide one free credit report in a year for an individual.
CreditMantri as part of the Free Credit Health Service, obtains your Equifax report free of cost. As part of the service, we also provide an easy to understand analysis of your Credit Report.
Banks / financial institutions obtain an abridged credit report and CIBIL Score by making an enquiry on your CIBIL profile while evaluating your loan application. Please note that these credit enquiries are likely to negatively impact your CIBIL score, if your loan is rejected.
In today’s world everyone is moving towards simplification of processes. To get a CIBIL report is just a click away and the entire process is paperless.
- To get a CIBIL report is very easy, you can log in to the official CIBIL website and upload the required documents i.e. your address proof, id proof, your personal information and other relevant facts.
- After filling the form you will be redirected to the authentication page. You will be asked 5 questions pertaining to your credit history, if you have answered 3 correctly, CIBIL will send your credit report through an email within 24 to 48 hours.
- If your authentication fails, do not worry, you will receive a hard copy of your CIBIL report by post to the address you have provided.
You can also log into reputed credit management companies like CreditMantri and apply for a CIBIL report. To get your CIBIL report from CreditMantri, you must first log into CreditMantri.com and register with us and upload all the required information and you can avail your CIBIL report. After the authentication process you will receive your CIBIL report by email within 24 to 48 hours.
Can I get a free CIBIL report?
It is possible to get a CIBIL score or a CIBIL report for free once a year as mandated by the RBI. But, when you approach a bank for a loan or a credit card, they approach CIBIL to understand your credit worthiness. So banks get a CIBIL report by submitting your information, which you can request to view your CIBIL score. But it is advisable to check your CIBIL score, before you approach the banks for a loan, because if you have a low CIBIL score, there are high chances for your loan to get rejected.
Free Credit Health Check
The first step in evaluating your current financial or credit health is credit health analysis. Our credit health analysis tool assesses your credit report and comes up with a detailed credit health report. As a part of the assessment we also highlight specific issues impacting your credit health and therefore ability to borrow. CreditMantri also provides execution support for resolving credit report issues and disputes.
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Credit Information Bureau India Limited (CIBIL) was incorporated in 2000 and its aim is to fulfill the need of credit granting institutions for comprehensive credit information by collecting, collating and disseminating credit information pertaining to both commercial and consumer borrowers, to a closed user group of Members. Data sharing is based on the Principle of Reciprocity, which means that only Members who have submitted all their credit data, may access Credit Information Reports from CIBIL.
The CIBIL Score is India’s first generic score and has become the most trusted indicator for prudent decision making by credit grantors. With the CIBIL Score, the credit grantor can effectively predict the likelihood of an applicant becoming more than 91 days delinquent on one or more credit facilities over the subsequent 12 months.
CreditMantri counselors recommend that all individuals obtain a copy of their credit report to view your CIBIL score. Reviewing and understanding your credit report, CIBIL Score and resolving credit issues in a timely manner can save you a lot of money.
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