CIBIL score can be checked online by filling a score request form on the official website of CIBIL. The process is quite easy and time-saving. You have to pay a nominal fee for availing this service. The process of checking your CIBIL score can be explained as follows.
What is a CIBIL score?
A CIBIL score determines your creditworthiness. It is based on your payments towards loans and credit cards. You need to maintain high credit score for obtaining loans in future.
A CIBIL or credit score comprises of three digits in numeric form. It summarizes your overall credit history. The credit score ranges from digits 300 to 600. It is based entirely on your Credit Information Report prepared by CIBIL.
After applying for a particular loan, the lender evaluates this application in light of the credit information report and CIBIL score. Hence, it is better if you have a check on your credit score. You must do it personally instead of approaching banks or financial institutions for the same. If you enquire at your bank, it may have an unfavorable effect on your score.
How to know your credit score?
The first step in obtaining credit score is to fill the score request form available on the CIBIL’s official website. It asks for specific details such as your name, date of birth, postal address and contact details. You also need to mention correctly your income details, and proofs of identity and residence.
The entire form filling process is online. After filling the form carefully and accurately, click the submit button. You need to pay a nominal fee for obtaining your score. The payment options available on the CIBIL site are credit card, debit card or by netbanking.
The payment process is followed by a simple authentication step. Do it carefully. Your CIBIL score is sent to your registered e-mail address within next 24 hours.
An offline method of checking CIBIL score
If you are not comfortable in using online facility to check your CIBIL score, then you may opt for another method. By this method, you are required to send certain documents to CIBIL as follows: printed application requesting CIBIL to provide your CIBIL score, a copy of your identity proof and proof of address. Please note that your application must include your personal details in correct form such as: name, address and date of birth and it should match with the given proofs. The nominal fee needs to be paid by the manner as prescribed by CIBIL. After receipt of these documents, CIBIL carefully verifies it. It sends a printed copy of your credit report and score to the mailing address mentioned in the address proof.
It is easy, simple, and beneficial to check your credit score by online means from CIBIL’s official website. If you check your credit score on timely basis, then you can understand your creditworthiness. If your credit rating is low, you can take steps to improve it.
