CIBIL Subscription Charges: How Much Does It Cost to Check CIBIL Score?

The cost of checking your CIBIL score depends on the number of reports, features, and the subscription plan you select. You are entitled to one free credit report each year from CIBIL. For more frequent access, CIBIL offers membership options with 1, 6, or 12-month subscriptions.

Your CIBIL score is essential when applying for credit cards or loans. You can access your credit report through various CIBIL plans, depending on how often you want to check your score and the features you need. Here are the key CIBIL report fees and charges:

Free CIBIL Score Check

The RBI allows you to check your credit score and report for free once a year with any credit bureau, including CIBIL. This free report helps you stay informed about your credit status, but is limited to one report annually. 

CIBIL Score Subscription Fees for Paid Services

For more frequent updates and added features, CIBIL offers paid subscription plans. These plans include access to your credit score, full credit report, score simulator, credit history, and CIBIL alerts. You can choose from 1, 6, or 12-month options by paying the applicable CIBIL membership fees.

1. Basic

The 1-month CIBIL subscription costs ₹550. This plan offers full access to your CIBIL Score and Report for a month. Track your score history, and use the Score Simulator to see how different financial decisions might impact your score. The 'Where You Stand' feature helps you understand your credit position clearly.

1. Standard

The 6-month subscription is priced at ₹800. It includes all features of the 1-month plan. In this plan, you also get the ‘CIBIL Alerts’ feature, helping you keep a closer eye on your credit profile.

1. Premium

The 12-month premium CIBIL subscription costs ₹1,200. In this plan, you get comprehensive access to your CIBIL Score and Report, ‘CIBIL Alerts’, the ‘Score Simulator’, ‘Score History’, and ‘Where You Stand’ feature. This helps you stay proactive about your credit health, spot issues early, and make better financial choices. 

The following factors influence the cost of checking your CIBIL score:

• Type of Report: Basic checks are cheaper as they offer limited data, while full reports with detailed history cost more

• Frequency of Checks: Single report requests are more expensive per check compared to cost-effective subscription plans

• Service Provider: Different platforms charge varying fees depending on the features and level of detail offered

Your CIBIL score plays a crucial role when you apply for a credit card or loan. Banks and financial institutions use this score to assess creditworthiness. It helps them decide whether to approve your application. A quick CIBIL check helps lenders process your request faster and more smoothly.

Here is how your CIBIL score impacts the process:

• The lender checks your credit or CIBIL score to assess your eligibility for the loan

• It helps you apply for a credit card or loan with a bank or financial institution

• A low CIBIL score may lead to your application being delayed or denied

• A high credit score increases the chances of approval and better loan terms

• Your CIBIL score gives lenders an initial view of your financial reliability 

You can easily check your CIBIL score online on Bajaj Markets. Follow these simple steps:

1. Click the ‘Check Score Now’ button on the CIBIL Score page

2. Fill in the required details, including your PAN and mobile number

3. Choose your employment type and accept the terms and conditions

4. Enter the OTP sent to your registered mobile number

5. Click ‘Get Report’ to view your CIBIL score instantly

Yes, paying to get your CIBIL report can be worth it if you want deeper insights and regular updates about your credit profile. A paid CIBIL subscription offers several benefits:

• You receive detailed information and analysis of your CIBIL history 

• red You get regular updates and alerts about any changes to your credit score

• Access to tools like the score simulator helps you understand how financial actions may impact your score

Paid plans can help you stay on top of your credit health, especially if you are planning to apply for loans or credit cards.

You can check your CIBIL score through various free methods. While premium services offer detailed analysis, these alternatives allow you to access your score at no cost:

• Banking Services

Some banks and financial institutions and marketplaces such as Bajaj Markets, offer free CIBIL score checks as part of their services. You can log in to the bank’s portal or app to view your score for free.

• Promotional Offers

Many financial platforms give free CIBIL score checks through promotional offers. These help you track your credit health while exploring financial products.

• Yearly Free Check

RBI guidelines allow one free credit report each year from bureaus like TransUnion CIBIL. You can use this to check your credit history and correct any errors.

Checking your own CIBIL score does not affect your credit report. This is known as a soft enquiry and has no negative impact on your credit score. 

It is important to understand the difference between the two types of credit enquiries:

• Soft Enquiry: Occurs when you check your own credit score. It does not affect your credit rating.

• Hard Enquiry: Happens when a lender checks your CIBIL score as part of a loan or credit card application. Multiple hard inquiries can temporarily lower your score.

Knowing this difference helps you monitor your credit health without worry.

Before checking your CIBIL score or choosing a CIBIL subscription, keep these points in mind:

• Choose between a one-time report or a subscription plan based on your needs

• Look for discounts or special offers on CIBIL subscription plans to save money

• Use your one free annual credit report before opting for any paid CIBIL score check  

Knowing the charges to get your CIBIL report can take you a step closer to managing your financial health better.  It allows you to track your score, catch errors early, and make informed financial decisions with confidence.