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Difference in CIBIL and EQUIFAX reports?

How much difference iis there in CIBIL report and EQUIFAX report? Can I avail a loan by submitting EQUIFAX report by a financial institution?

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Both CIBIL and Equifax use their own proprietary models to compute your credit score

Both CIBIL and Equifax use their own proprietary models to compute your credit score. While the score range is between 300 and 900, there are many reasons for the credit score from each of these bureaus to be reported differently for the same person. The RBI has informed the bureaus to work on scoring models that use the same data points and also ensure that the actual scores converge. However, until such time the credit scores are likely to be different as reported by each bureau. Lenders use the bureau reports and scores for different reasons. If a lender is using the CIBIL report to make a credit decision, it is unlikely that they will rely on the Equifax report that you submit, and vice versa. The lenders internal credit policy will guide how they choose to dispense credit to new applicants. Please let us know if you require any further clarifications..

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