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Get your Free Credit Score Report Online Instantly

The credit score is a three-digit number ranging between 300 and 900 (900 being the highest) used by credit bureaus to signify an individual’s creditworthiness It is one of the factors which determines your eligibility as a borrower. Higher credit score may allow you to higher loan amount eligibility and better interest rates.

Therefore, it is important to maintain a good credit score which can be achieved from being financially disciplined.  Staying informed and updated about your credit score allows you to plan better for your future financial goals .

You can get a Free credit report from TU CIBIL and much more at Finserv MARKETS. , Financial Health Check report (FHCR) by Finserv MARKETS, provides you with an overview of more than just your credit score, it provides you an in-depth guidance to not only understand your credit score but also empowers you with simple steps and knowledge to improve your financial health.

Why Check Credit Score at Finserv MARKETS

Personalised Report

Financial Health Check Report includes your personalised CIBIL Score as well as your performance across various parameters. This report will increase your financial awareness & help you make informed decisions.

More than CIBIL Score

We simplify complex financial reports for you and help pave way for a better future. The report also provides insights on protecting your financial stability for fulfilling your investments & aspirational objectives. It'll help you intaking prudent decisions towards maintaining your financial well-being.

Trusted Companion

Completely secure transactions and years of trust have, we have 100 million+ happy customers across India have chosen Bajaj Finserv as their trusted financial partner. It's your time now!

What is a CIBIL Score?

TransUnion CIBIL, an Indian credit bureau, is responsible for recording and updating an individual’s CIBIL credit score. The score is calculated by analyzing your repayment history, outstanding (current) debts, number of credit inquiries, and more.

An individual with a good credit score is regarded as a responsible borrower, i.e. someone who manages their financial obligations well and has the ability to pay back the borrowed amount. 

Why Credit Score is Important

What are the Different Credit Score Ranges? (as per TU CIBIL)

 

Credit Score Range

Rating

Impact

Not Applicable

Not Applicable

If you have never availed a loan or have never applied for a credit card, your credit score remains NIL. It means you do not have a credit history.

350-549

Poor

This score range is very poor and reflects financial indiscipline. It is an indicator of a poor credit history or recurrent default on loans. It is important to make changes through timely repayment and optimal credit utilization.

550-699

Average

This score range is average, and you still need to improve your score to get better loan offers. Only a few lenders grant loans to applicants with this score, albeit at a high interest rate.

700-749

Good

This is a good credit score and reflects healthy financial habits. Lenders are likely to offer you higher loan amounts at better interest rates.

750-900

Excellent

Credit score in this range is considered excellent and proves that you are a low-risk borrower. Lenders offer the best deals to applicants with such high credit scores.

 

Difference Between CIBIL Score & CIBIL Report

CIBIL Score:

The CIBIL score is based on your CIBIL report. The three-digit numerical value is calculated after deriving information from the CIBIL report. It reflects your ability to make effective financial decisions and successfully manage credit.

CIBIL Report:

The CIBIL report is a detailed account of your debts and credit history. Recorded and generated by TransUnion CIBIL, it includes information about an individual’s past loans, credit holdings, repayment history, and credit dues to name a few. Each time you undertake a line of credit, the same is reported and recorded in your CIBIL report.

Factors That Affect CIBIL Score

CIBIL Score reflects a person’s credit behavior which includes frequency of applying for loans/credit cards, credit repayment history, mix of secured and unsecured credit, etc. Some factors that affect an individual's CIBIL score are given below:

 

Repayment History

  • Loan repayment history like timely payment of your credit card bills and EMIs affects your CIBIL score.

  • Missing timely payments of your credit card bills or EMIs will have an adverse affect on your score and thereby your ability to secure new credit in the future.

Credit Utilization Ratio

  • Credit Utilization Ratio is calculated by dividing the amount of credit availed by the available credit limit.

  • A high credit utilization ratio indicates a heavy repayment burden that negatively impacts your CIBIL score.

  • A person with a low credit utilization ratio has higher credit worthiness and can avail additional credit with greater ease.

Simultaneous Loan/Credit Card Applications

  • Applications for new credit cards/loans trigger hard enquiries from prospective lenders.

  • These enquiries show up on your CIBIL report which adversely affects your CIBIL score if multiple hard inquiries show up on your report simultaneously.

Credit Mix 

  • It is good to have a balanced mix of secured and unsecured loans.

  • Too much unsecured debt in the form of credit card debt and outstanding personal loans adversely affects your CIBIL score.

  • Having a mix of secured loans and unsecured loans, can help you maintain a high CIBIL score.

Increasing Credit Card Limit Frequently

  • Frequent requests to increase the credit limit on your credit cards may increase the number of hard inquiries.

  • This may adversely affect your CIBIL score as it might be perceived as high dependence on credit by potential lenders leading to an increased chance of default in the future.

Errors in Credit Report

  • CIBIL reports errors such as an incorrect mention of default in repayments, wrongly assigned loans/credit cards, errors in personal information, etc. may adversely affect your CIBIL score.

  • Incorrect or delayed reporting by banks may also negatively impact your score.

Lack of Credit History

  • Absence of credit history makes it difficult for the lender to determine the risk category the individual falls into in case he/she has never taken a loan or never had a credit card.

Inability to fulfill your role as a loan guarantor

  • A guarantor is liable to pay the loan in case the primary borrower fails to do so.

  • The guarantor’s CIBIL score is impacted in case of loan default.

 

How to Check Credit Score by PAN Card

Your CIBIL score is generated and maintained against your Permanent Account Number (PAN card). It can also be used to view your credit score. All you have to do is provide your PAN card details and other general information to access your credit score. Read more on how to check CIBIL Score by PAN card

 

Steps to Check CIBIL Score at Finserv MARKETS

Follow these easy and simple steps to check your CIBIL score through Finserv MARKETS:

Step 1: Visit the official Finserv MARKETS website and click on ‘Check CIBIL score’.

Step 2: Enter the required details.

Step 3: Once your identity is verified, you can access the detailed report on your financial health. You can also view the CIBIL score.

Checking your CIBIL score through Finserv MARKETS is healthy as it is a soft enquiry. No matter how many times you check your financial report, it will not have a negative impact on your credit score.

 

Who Maintains Credit Reports in India?

The major Indian credit bureaus that offer credit reports are TransUnion CIBIL, CRIF High Mark, Equifax, and Experian. The bureaus maintain credit information as provided by banks and instructional lenders.

List of Credit Bureaus in India

The following credit bureaus are registered with the RBI in India:

  • CIBIL

TransUnion CIBIL is India’s oldest Credit Information Company and is associated with a large number of banks and NBFCs. This is one reason why the credit score is commonly referred to as the ‘CIBIL Score’.

  • Experian

Experian provides detailed credit information reports that aid in analyzing an individual’s credit history. It enables companies to acquire collection and money recovery reports, data analytics reports, and customer-targeting reports.

  • Equifax

 Equifax is a company that was granted a functional license in 2010. It scores individuals in the range of 1 to 999, with 999 being the highest. It enables customers to access the Equifax risk score, Equifax risk portfolio, and credit information.

  • CRIF High Mark

CRIF High Mark evaluates the current market position of credit card providers in the market. Apart from evaluation, it also renders other services like portfolio management, credit reporting, geo-analytics consulting, and more.

  • CRISIL

A global ratings company, CRISIL rates companies and provides risk advisory services. The company has a wide reach across different countries in the world.

  • ICRA

ICRA was set up in 1991 and rates debt instruments of financial and non-financial institutions. It is also responsible for grading and providing mutual fund rankings, real estate company performance ratings, and corporate government ratings.

Consumer CIBIL Report vs Commercial CIBIL Report

Consumer CIBIL Report

The Consumer CIBIL report contains extensive information about an individual’s credit history. It provides in-depth data on the credit repayment history of a consumer across different leading institutions. This report helps lenders evaluate the creditworthiness of a borrower before disbursing credit.

Commercial CIBIL Report

The Commercial CIBIL report contains extensive credit information about companies or commercial borrowers. It reflects the creditworthiness of companies, which helps lenders review and determine the credit eligibility of a commercial business. A commercial CIBIL report is provided by a commercial bureau.

Key terms that feature on your report

The credit report contains several terms that may be difficult to understand. Read on to know these terms and what they mean:

 

Term in the Credit Report

What does it mean?

SF

Credit account that is ‘Suit Filed’

WD

Credit account that is ‘Wilful Default’

WO

Credit account that is ‘Written Off’

SETTLED

Credit account that is ‘Settled’

Closed

Credit account that is ‘Closed’ (paid off)

ACTIVE*

Credit accounts that are past due (Less than 90 days)

ACTIVE**

Credit accounts that are past due (More than 90 days)

DPD

Days Past Due (Days past since the agreed payment date for an EMI)

DPD ‘0’

The ‘0’ numerical beside DPD indicates that the EMI payment is made on time.

DPD>0

The numerical indicates the ‘Days Past Due’ as reported by the lender.

 

In some instances, you will find the following alphabets listed against the DPD table. It means that the lender is indicating Asset Classification.

 

Term in the Credit Report

What does it mean?

S

‘Standard’ – As per the RBI guidelines, an account that is overdue for less than 90 days is a ‘Standard’ asset.

B

‘Substandard’ – As per the RBI guidelines, an account that is overdue by 90 days for a period of 12 months or less is a ‘Substandard’ asset.

M

‘Special Mention’ – This is a Standard Asset. However, the account is closely monitored due to a possible discrepancy.

D

‘Doubtful’ – As per the RBI guidelines, an account that is overdue by 90 days for more than 12 months is a ‘Doubtful’ Asset.

L

‘Loss’ – As per the guidelines laid down by RBI, an account with identified loss but written off amount is categorized as a loss asset.

 

How to Download CIBIL Report?

The CIBIL report can be downloaded using the following steps:

Step 1: Visit https://www.CIBIL.com/freeCIBILscore.

Step 2: Click on the ‘Get Yours Now’ tab.

Step 3: You will be prompted to enter the requisite information, including your name, date of birth, contact number, and ID number, to name a few. Proceed to create your ‘Username’ and ‘Password’.

Step 4: An OTP is sent to your contact information to verify your identity. Additionally, you may also have to provide some more information to confirm your identity.

Step 5: Post identity verification, you can view your CIBIL score and download the CIBIL report.

 

Components of Credit Report

A CIBIL report or a Credit Information Report (CIR) is used to derive the CIBIL score. The key components of CIBIL report are given below:

  • CIBIL Score:

The CIBIL report reflects an individual's credit history which is used to calculate the CIBIL score. The CIBIL score ranges between 300-900. 

  • Personal Information:

The CIBIL report contains personal information such as your name, gender, date of birth and identification numbers like passport number, PAN and voter’s number.

  • Contact Information:

This section contains your contact numbers and addresses. Maximum 4 addresses can be mentioned.

  • Account Information:

This section contains details of your credit facilities like name of lenders, kind of credit facilities (overdraft, personal, home, etc.), account numbers, loan amount, month on month record of your payments, etc. are there in this section.

  • Enquiry Information:

When you apply for a loan or credit card, the respective financial institution or bank accesses your CIBIL report. These enquiries are listed in the report and contain the vendor’s name, amount of credit applied, date of application of credit and credit type.

What Factors are Important to Maintain a Good Credit Score?

  • Keep a credit utilization ratio below 15%–25% of your total available credit.
  • Avoid defaulting on your loan and repay your debts on time.
  • Do not open multiple loan accounts at once
  • Check your credit report once in a while and correct any possible errors if any, this will improve your score.

Financial Health Credit Report (FHCR) Advantages

Financial well-being involves implementing prudent strategies for managing your money. Finserv MARKETS’ Financial Health Check Report was developed as part of our mission to educate and create financial awareness among our valued customers. It is intended to highlight your credit profile and the positive steps required to achieve your financial goals.

Finserv MARKETS Financial Health Check Report gets your CIBIL score and shows your performance across factors such as repayment history, the length of credit history, credit utilization and the type of credit you have taken. You will also find personalised advice regarding improving your credit standing in order to get better offers from banks and lending institutions.

We believe that protecting your financial stability and continuity is as important as fulfilling your investment and aspirational objectives. Therefore, in this report, we have also included our recommendations to find a balance between precaution and ambition based on your individual profile.

Being educated about your credit health and savings potential helps you in taking prudent decisions towards maintaining your financial well-being. We are sure that you will find this report informative and that it will lead you to the road ‘wealth’ travelled.

Credit Score Video

CIBIL Score FAQ's

✔️What is the meaning of CIBIL Score?

CIBIL Score is a three-digit numeric summary of your credit history. The score is given using the credit history found in your CIBIL Report (also known as CIR i.e Credit Information Report). CIBIL Score is very important as it is one of the deciding factors whether you will be given a loan or not.

✔️Is this Credit Report from Finserv MARKETS free?

Yes, checking your CIBIL Score at Finserv MARKETS is absolutely free.

✔️I am unable to get my free CIBIL Score Report

On applying for your free CIBIL score if you do not get the report or see a failure message it could be due to a mismatch of data like your Mobile number, email id, PAN number or date of birth which you have entered while applying for your free CIBIL score report with your data with CIBIL. Another reason could be that you have never applied for or availed any kind of credit product due to which your data is not available with CIBIL.

✔️Why should you monitor your Credit Score regularly?

It’s crucial that you keep a close eye on your Credit Score. It is the best way to gauge your chances to get a line of credit. Another reason why you should track your score is to know if it dips, or if an error has been made by financial institutions in reporting your credit data to the credit bureau. This will help you make timely amends.

✔️Does my credit score get impacted if I enquire about it?

There are two types of credit score enquiries – hard enquiry and soft enquiry. Hard enquiries are usually conducted by financial institutions to take a decision about your credit application which can have an impact on your Credit Score. Soft enquiries do not impact your Credit Score. An enquiry made by an individual is called a soft enquiry. Finserv MARKETS will make a soft enquiry on your behalf when getting your Credit Score from CIBIL. Hence, your credit score will not get impacted in any manner. Moreover, checking your Credit Score on our website is absolutely free.

✔️Is your CIBIL Score the deciding factor in a loan?

Credit Score is not the only deciding factor for decision on your credit application, but it is one of the critical parameters which financial institutions consider while providing credit to an individual. All Credit Information Companies, including CIBIL, create your Credit Reports which tell banks about your financial credibility. Your Credit Score also determines the interest rate banks chalk up for you. So make sure that you score big on this one!