CIBIL i.e. Credit Information Bureau India Limited is a credit Information Company which was established in August 2000 before the invention of Credit Scores in 1950’s. Lenders have to take the social approach to determine the creditworthiness of an applicant. The CIBIL Score is the most important score of the adult life of an individual. It indicates if you are eligible for loan or not. In 1956, engineer Bill Fair with a well known Mathematician Earl Issac to create Fair- Issac & company for creating standardized, impartial credit scoring System.
Let us discuss how to check your CIBIL Score for free. Now to get the CIBIL score free of cost online, one has to visit the official website of the credit agency & request for CIBIL report. To get the CIBIL report, the Customer has to submit the required documents & within 24 hrs, the applicant will receive the entire CIR report through the registered email.
The details which are required are; –
- Name 1st, middle & last name
- Valid email id
- Date of birth.
- Residential address
The Consumer can also check the CIBIL score with the help of PAN card. After visiting the official website of CIBIL, one has to enter the name as per the PAN Card. After entering the correct birth details, gender, PAN Number, email address, residential address & mobile number one has to click on agree to terms & condition & then click on submit button.
After clicking on the submit button, the Credit report will be sent to the verified email ID of the consumer. The credit report will provide the entire history of credit information of the applicant & the score will be assigned to the individual on the basis of which the banks or lenders will decide whether the consumer can be given a loan & on what interest rate.
The CBIL score can also be checked on Whatsapp.
This facility is provided by wishfin website. It is considered as the 1st website to provide this
Facility. The process is very simple & confidential too as every information provided by the applicant is kept secret. To avail this facility one has to give a missed call and at 91-8287151151. As the applicant will give a missed call, the applicant’s mobile number will be added on the whatsapp chat. Now enter the request details such as Name, Date of Birth, and gender
PAN Number & accurate residential address. The applicant needs to enter the verified email ID. As soon as the consumer fills the entire details, the score will be visible on the Whatsapp chat box.
As per the CIBIL Score, the lenders verify the ability of the consumer to repay the loan. It lies between 300-900. The closer you are to a CIBIL Score of 900, the better are your chances of getting easy approval of your loan. The minimum credit score required for personal loan approval is 750. A lower score hurts your chances of availing the loan. Hence always try to keep a check on your CIBIL Score & keep it near to 750.