TransUnion CIBIL is one the most popular credit information bureaus in India. Most lenders around the country use TransUnion CIBIL to enquire about loan applicants’ credit score, their creditworthiness and repayment capacity. The CIBIL score is a three digit-number between 300 and 900 that is reflective of a borrower’s past repayment record and their current debt situation and dependency on credit.
A CIBIL score between 750 and 900 is considered excellent. Such a credit score belongs to borrowers who have always paid their loan EMIs and credit card bills on time and in general, have a serious and responsible attitude towards credit. Lenders know that such borrowers make excellent clients and therefore, all lenders offer their best loan deals to borrowers whose CIBIL score ranges between 750 and 900. A CIBIL score in the range 650 and 750 indicates a serious attitude towards credit but with a few issues in the repayment history or issues regarding one’s debt situation. Such borrowers get approved for loans but do not always get the best loan terms and conditions. Applicants whose CIBIL score goes below 650 find it very difficult to get approved for a loan as such a credit score indicates a casual attitude towards credit and its repayment. Borrowers with their CIBIL score below 650 are seen as risky borrowers by lenders.
Borrowers are advised to have a good CIBIL score for home loan as a good CIBIL score makes it possible for a borrower to get approved for a loan easily and avail of a loan at low interest rates and save money in the long run. It also makes borrowers eligible for a higher loan sanction and other beneficial loan terms and conditions, such as a long repayment tenor to ease the burden of loan repayment.
In this article, we share details with our readers on how to check CIBIL score online. So, read on.
How to Check CIBIL Score Online: A Step-by-Step Guide
There are two ways in which borrowers can check their CIBIL score. First, for free. Second, by paying a small fee. So, why would anyone want to spend any money when they can check their credit score for free? The answer is simple: when you check your CIBIL score for free, you only get to see your credit score and do not get access to your credit report, which can play an instrument role in helping you understand why your credit score is below 750, in case it is. In any case, here is a step-by-step guideline on how you can check your CIBIL Score.
How to Check Your CIBIL Score for Free
If you want to check your CIBIL score for free, you will have to use one of the many websites that offer this service. Once you have found such an app or website, follow the steps mentioned below to check your CIBIL score for free.
- Go to the app or website and login into the platform.
- After you have logged in, you will be asked to share certain details, such as your name, address, phone number, etc.
- During the next step, you will be asked to share your PAN Card details. You must share your PAN card details as these details will help the website owners fetch the correct credit profile.
- As soon as you enter your PAN details, your credit score will flash on your screen.
Users need not worry about privacy or data security breach when using these websites and apps as they are entirely safe to use.
How to Check Your CIBIL Score on TransUnion CIBIL’s website
If you want your credit score check to deliver reliable results or if you want access to your credit report, you will need to go to TransUnion CIBIL’s website. Once on the website, follow these steps to check your credit score.
- Log in to your account and go to the right hand corner of the screen and select the ‘Get Your CIBIL Score’ option.
- Next, select your plan based on how often you want TransUnion CIBIL to send you details of your credit score.
- During the next step, you will be asked to enter some personal information about yourself, such as your name, address, phone number, etc.
- After this, you will be required to create a password and enter your PAN details.
- Make payment during the next step. After this, you will recieve an OTP on your phone number. Enter the OTP and submit the form.
- You will now be able to see your credit score on your screen.
Final Words
It is crucial that you check your CIBIL score before apply for home loan and move ahead with your loan application only if your credit score is at least 750 or above. If your credit score is below 750, improve it first and the apply for a loan. How to improve your CIBIL score? Here are a few suggestions: build a clean repayment history, maintain a low credit utilization ratio, maintain all old loan accounts and a healthy mix of both secured and unsecured loans and your credit score will improve automatically over time.