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What is Control Number in CIBIL And How Can You Get It?

Your CIBIL score represents your credit behaviour and creditworthiness. When you apply for a loan, your credit score plays a crucial role in the loan approval process. Having a good score will make the loan approval process easier, whereas a poor score might lead to loan rejection. Hence, it is necessary to conduct a CIBIL score check before applying for a loan. Doing so will help you understand whether you are eligible to apply for a loan in the first place.

CIBIL Score

A CIBIL score is a three-digit number that ranges from 300-900 and determines an individual's credit standing. An individual with a credit score of 750 or above reflects the borrower’s financial prudence as well as good repayment behaviour and greatly improves your chances of loan approval. On the other hand, a borrower with a poor score might have a tough time availing a loan. However, you can always improve your credit score before applying for the loan to avoid rejection.

Factors that Build Your Score

Credit Aspects

Weightage

Credit repayment history

35%

Loan amount the borrower owes

30%

Number of years servicing the debt

15%

Total number of loans availed or applied for

10%

Credit mix

10%

CIBIL Report

CIBIL credit information report contains all the data related to an individual's credit history. Whenever you apply for a loan, the lender runs a check on this credit information. The Reserve Bank of India (RBI) has made it mandatory for all credit bureaus to offer a detailed CIBIL report once a year for free. So, you are entitled to get one free copy of your credit report every 12 months from these credit bureaus, namely CIBIL, Experian, CRIF High Mark, and Equifax.

How to Check Your CIBIL Report?

You can check your CIBIL score and credit profile through the CIBIL website. Usually, a maximum of Rs. 550 is to be paid to obtain a CIBIL report. The payment applies to both individuals and institutions. Moreover, some lending institutions offer a free CIBIL check service online. At Finserv MARKETS, when you avail a loan, you can get a free CIBIL score check and Financial Health Check Report online. This report will help you understand your credit standing and you can get tips on improving your financial health.

The data mentioned in the CIBIL report helps a lender decide the borrower's repayment capability and determine how much to lend, the interest rates, and loan tenure. To release your credit records, CIBIL uses a unique control number to get your credit details.

What Is The Control Number In CIBIL?

Enquiry Control Number (ECN) is generated when a bank accesses your credit score. The ECN number is a unique nine-digit number that allows a lender to find the credit records of borrowers. Also, note that the control number will be different for every borrower and you will never find two people with the same ECN number. The control number can be acquired by requesting the lender for your CIBIL report, where the number is listed on the top right corner. Note that the control number gets generated every time a credit report is pulled out. Thus, CIBIL requires the ECN number to get the exact details a lender viewed or referred to when the credit report was pulled.

Purpose of the Control Number in CIBIL

The below-mentioned points explain the importance of an ECN number:

  • ECN number helps banks and financial institutions acquire a borrower's credit information from CIBIL.
  • ECN number maintains the information of the borrower's credit history and score.
  • The control number keeps millions of CIBIL reports organized and easy to track.

How To Get An ECN Number?

Under the Credit Information Companies (Regulation) Act, 2005, you have the right to acquire your control number in CIBIL. You can request the lender for the control number or else you can request for a CIBIL report. For your ECN number, you can contact the CIBIL helpline by dialling 1800-224-245. Another option is to log on to the CIBIL website and retrieve a one-time CIBIL report.

Now that you’re fully equipped with all there is to know about your CIBIL score and credit report, you can get access to your credit information whenever required. The above-mentioned information on ECN will help improve your borrowing experience. To get financial assistance you can apply for an online instant personal loan of up to Rs. 25 Lakhs at affordable rates. Check for pre-approved offers on Bajaj Finserv Personal Loans at Finserv MARKETS. Avail collateral-free loans with flexible repayment tenure of up to 60 months. Also, make the most of the added services like online free CIBIL score check and Financial Health Check Report (FCHR) to understand your overall credit standing.

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CIBIL Report

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FAQ's on ECN number

  • ✔️What is the full form of ECN in CIBIL?

    The full form of ECN is Enquiry Control Number. It is a unique, nine-digit control number that helps various lenders track the credit records of loan borrowers.    

  • ✔️What is the control number in CIBIL dispute form?

    The control number is found on the top right corner of your credit report form. It is created once a Credit Information Report (CIR) is generated.

  • ✔️Is 780 a good CIBIL score?

    Credit scores range from 300 to 900, and a good score is a sign of healthy credit history. A CIBIL score of 780 is excellent and will greatly improve your chances of getting a loan at the lowest rates.

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