CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
Get answers to commonly asked questions related to credit bureaus
Yes. There are several credit bureaus in India apart from CIBIL™. In India, there are six main credit bureaus that are registered authorised by the Security and Exchange Board of India (SEBI). Let’s take a closer look at them.
Equifax got the license in 2010 to operate as a fully functional credit rating agency in India. Equifax provides products for both individuals and corporates. For individuals, it provides credit ratings and risk and portfolio scores.
At Equifax, credit scores for individuals range between 1 – 900. For corporates, the services provided by Equifax includes industry research, portfolio and risk management reports, credit fraud reports, etc. You can now easily check your latest credit score for free at Credit Mantri, the online loan analysis platform, powered by Equifax and get your credit score within minutes.
Experian was established in 2006 in India but has been operating as a fully licensed credit rating agency since 2010. The credit bureau conducts individual as well as company analysis of the credit reports. Such reports get processed in around 20 days and are cheaper as compared to other credit bureaus operating in India. The credit rating scores at Equifax for individuals range between 300-900 with a score of 900 considered the best.
At Experian, Individuals can ask for their credit information to know their credit history while organizations can opt for reports like customer acquisition, customer targeting and engagement, etc.
CRIF High Mark
CRIF High Mark was founded in 2007 with a license to operate granted during 2010. The bureau is the only credit bureau approved by the Reserve Bank of India to operate in India. It is a highly reputed bureau and considered the only bureau in India providing a comprehensive credit rating with seamless services across different borrower classes like individuals, MSMEs, companies etc. CRIF High Mark gives credit rating analysis for both individuals and companies with a credit rating criterion between 300-850. A credit rating score of 720 and above is considered excellent while scores of 640 and below as poor.
CRISIL is considered one of the earliest credit bureaus in India is founded in 1987. CRISIL is a global analytical company that provides a diverse range of services like rating the companies, elaborate market-based research, policy and risk-oriented advisory services for their clients. It is present globally in many countries with major branches in Singapore, the United Kingdom, the United States of America, Hong Kong, China etc. The globally acclaimed credit rating agency - Standards & Poor is one of the majority of stakeholders at CRISIL.
ICRA was initially known as the Investment Information and Credit Rating Agency. During 2007, it got listed on BSE and NSE. The credit bureau was established primarily to undertake mutual funds related grading and ranking services, performance-based and corporate governance ratings to corporates in the real estate, construction and hospital sectors.
Credit bureaus in India and worldwide have been formed to analyze financial transactions for individuals and businesses. Credit scores are an important criterion for lenders to judge the borrower’s creditworthiness to grant/approve loans and credit cards.
CIBIL™ is one of the leading authorized credit bureaus in India. It was established in 2000 with a license to operate granted in 2010 to provide a credit report based on past credit history. CIBIL™ is associated with different banks and financial institutions. Important reports provided by this bureau are:
The bureau provides such reports generally within a week. At CIBIL™, credit scores for individuals range between 300-900, with a score above 720 deemed as excellent. Corporates are given a performance score based on their repayment history. The higher the credit score, the greater are your chances of getting loans or credit cards sanctioned.
A credit bureau is an authorized body that collates and analyses your data pertaining to credit transactions like loans taken, credit cards, overdrafts etc. and their repayment timelines. The credit report generated by credit bureaus is used by banks and financial institutions to judge the creditworthiness and past loan/credit card repayment behaviour of borrowers so as to evaluate the risk factor in granting potential loans to borrowers.
Additional Reading: All You Should Know About The Credit Bureaus And Credit Scores In India
Credit scores released by the key credit bureaus in India are integral to banks and other financial institutions for assessing the creditworthiness and risk evaluation capability of a borrower, before granting him/her potential loans. The higher credit score is also beneficial for the borrower in terms of being able to negotiate better loan terms in terms of lower interest rate, extended loan tenure and reduced equated monthly instalments (EMI’s).
Credit scores normally are in the range between 300 – 900, wherein a score
The credit bureaus in India have different credit scoring algorithms, however, such different scores are accepted as valid.
Additional Reading: What Are The 5 Levels Of Credit Scores
1. How many different credit bureaus are there?
There are 4 major credit bureaus - Transunion CIBIL™, Equifax, Experian and CRIF Highmark. Credit Mantri’s credit score is powered by Equifax. You can do a free credit score.
2. How does the CIBIL™ score work?
The CIBIL™ gives a credit score that usually ranges from 300 to 900. If the score is below 300, then it is poor while a score of 900 is the best.
3. Which credit score is accurate? Experian or CIBIL™?
Both Experian and CIBIL™ scores are accurate. They are taken into account by lenders before sanctioning a loan or credit card application. Apart from Experian and CIBIL™, there are 2 other credit bureaus in India namely Equifax and CRIF Highmark and the scores from these 2 credit bureaus are accurate as well. CreditMantri's credit score is powered by Equifax and you can do a free credit score.
4. What is the ideal credit score for a home loan?
A credit score of 750 and above is an ideal credit score for a home loan. You may get a home loan easily when your credit score is 750 or above. It gives you the negotiating power. You can get access to an affordable home loan interest rate and a good amount of housing loan finance. Of course, getting a home loan, lower interest rates, and high credit limit will depend on several other factors as well and finally depends on the lender’s decision.
5. What is the difference between CRIF and CIBIL™?
The CIBIL™ score is a three-digit score that summarizes a consumer’s credit history. CRIF is a credit bureau that maintains the records of all the activities regarding the credit of companies and individuals.
The 4 credit bureaus- CIBIL™, Equifax, Experian, and CRIF highmark offer credit scores in India. The points mentioned above are true for credit scores from any bureau, not just CIBIL™.
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans
There are several ways in which you can improve your credit score. Depending on how good or bad your score is,
Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,
Is it possible to obtain a free credit check or credit report? The answer is yes and no!
Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
There is really no number that can be established as the average credit score in India. Many people see regular
You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help
First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
Sourav and Ankit are watching the New York Marathon on TV and decide that they want to run a marathon.
In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify
It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
One common worry that runs through your mind after you have made a credit card settlement is,
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application