In a world where everything is moving towards simplification of processes, getting a personalized CIBIL credit score is no exception. Today, it is just a click away and the entire process is paperless.
Getting a credit score online is a simple process. You can log on to Credit Information Bureau of India Limited (CIBIL) website (www.cibil.com). As soon you log on to the CIBIL website, you will find a Know Your Score tab. Click on the “Click here” button for your personalized credit score. It will lead you to a page which will show you the step-by-step method to get your credit score online.
A credit score is a financial report card with complete credit history of a person. It gives details on loans taken in past and credit cards held along with payment track records. All banks refer to credit score of every loan applicant as part of due diligence process. It is an important step in loan due diligence process as it gives a fair idea of the credit-worthiness of every individual.
The first step in the process of getting your personalized credit score is to fill an online form. You will have to mention details like name, date of birth, address, phone number, income, identity proof and address and also loans taken by you in the past.
After you fill the online form, you will be taken to a page where you will be given the options to make payment. You can make a payment of Rs 470 using your credit card, prepaid card and net banking. After payment confirmation, you will be taken to a page where you will to have fill in authentication details.
To authenticate your identity you will have to answer a minimum of three questions of the five questions asked. The questions will be based on your credit history like credit cards held and loans being serviced in your name. After a successful authentication, your personalised credit score will be emailed to you on the same day by CIBIL.
In case you fail the authentication questions do not worry, you will have to send the hard copy of the application for CIBIL score generated online with the CIBIL transaction ID along with hard copy of your ID and address proof to CIBIL. CIBIL on verification will send you the hard copy of the CIBIL credit report to your address mentioned in your address proof.
All information in this article has been provided by Rajiv Raj, Director & Co-Founder, CreditVidya