CIBIL score/report score is one of the mandatory document if you are planning to apply for loan. But can you get free CIBIL score/report? Many people want free CIBIL Report to be presented without any charge. But regrettably CIBIL doesn’t offer it free of cost and it is not possible to get free CIBIL score. What one can provide is the ballpark figure of your score. There are various things which can effect and manipulate anybody’s score. Thus any attempt at estimation will be useless. You can’t take any action established on this.
CIBIL delivers two kinds of reports. Both are charged but it would be helpful to know and the charges.
CIBIL Credit Information Report: This gives full information of your previous loans and credit card transactions as reported by various banks and financial services companies. CIBIL charges Rs 154/- for this but then again it does not provide you with a CIBIL Trans Union score. You can’t even get the report online. What you can do is that, download an application form online and fill it. Then you have to enfold a DD for Rs 154/- and then you will have to courier it to CIBIL along with a replica of your PAN card and address proof. After confirming the documents, CIBIL will report it to the address for which you have given them evidence.
But you have to remember that there are no free CIBIL reports. If you want to know your CIBIL Trans Union score, you will have to pay Rs 470/-
CIBIL CIR and Trans Union Score: In this report accompanied by CIBIL CIR, CIBIL will also provide you with CIBIL Trans Union score. The Trans Union Credit score is a number between 300 and 900. A score close to 900 is called a good credit. While giving loans, most of the banks considers or approves more than 750 credits. Please note this is not the free CIBIL score and no one can give you it for free.
You can submit an application online. You will need to complete a three step procedure.
- In the 1st step, you will be asked to complete an application form
- In the 2nd step, you will have to make an online payment of Rs 470/-
- In the last step, you will have to answer some authentication questions
If you are able to successfully complete all the steps along with the authentication questions your CIR will be emailed to you by CIBIL within 2-3 days. If your authentication fails then CIBIL will email you with a request to provide your ID and address proof. Once you have provided them the required documents, it will take about 7-10 days for you to receive the report in courier.
RBI has authorized companies which have registered under The Credit Information Companies (Regulation) Act, 2005 to provide a credit rating or a credit score established on previous loan performances which are reported by different banks and credit institutions. But do remember that free CIBIL score/report is not something any of these authorized company can provide.