CIBIL Report – Loan Application is passed on the basis of your past financial record. Banks scrutinize all the documents to gauge the genuineness of the customer. Namely, personal information, address verification, credit card statement, bank records etc. (all the documents provided by you) are scrutinized by the prospective lenders, that is, bankers and thus the credit report generated by Cibil, the Credit Information Bureau (India) Limited is needed by the banks. So to understand the process of approval you should have a fair idea of the way a report is generated and presented. This article will focus on Cibil credit report to help you better your understanding of the Cibil score thus improving your chances of loan approval.
Cibil report gives the following details:
Report Header Information – This is the first segment of the report. It gives the basic details of the consumer or borrower.
Name – of the consumer
Member ID – Generated by Cibil for internal process
Date – Date on which the report was generated
Time – Time stamp when the report was created
Control No. – is assigned each time the report is generated by the system
Consumer/Borrower Information – This is the second segment of the report. It gives the personal details of the borrower or applicant.
• Name – Consumer’s name
• Date of Birth – Consumer’s date of birth. It is given in the Date-Month-Year (DD-MM-YYYY) format.
• Gender – Consumer’s gender
• Telephone(s) – Contact number of the consumer
• Income Tax ID – Consumer’s Permanent Account Number (or commonly known as PAN)
• Voter ID – Consumer’s Voter Identification Number
• Passport No. – Consumer’s passport number
Address(es) – This is the third segment. It gives the location details of the consumer/borrower.
• Address – Up to four addresses can appear on each report. The latest updated address is reported first. Addresses are in free format and usually contain the following elements:
o Consumer’s address, City/ Town and District, State
o Descriptive information such as “care of”, “son of”, etc.
o PIN Code of the address
• Date reported – Date the associated address was first reported. It is given in the Date-Month-Year (DD-MM-YYYY) format.
Summary – This is the fourth segment. It gives details of consumer’s bank accounts.
• Account type – The various accounts held by the consumer with the details of the type, Advances, balances and even when the account was opened.
o TOTAL: The total number of accounts displayed in the Accounts section.
o OVERDUE: The number of accounts with overdue balances.
o ZERO-BALANCE: The number of accounts with a zero balance.
o HIGH CR / SANC. AMT: For credit cards and fleet cards, this is the highest amount of credit used (highest billing) in the history of the account. For other account types it is the sanctioned amount of the loan.
o CURRENT: The sum of the entire amount of credit/loan outstanding, including the current and overdue portion, if any, together with interest last applied for all the accounts. A negative sign indicates a credit balance.
o OVERDUE: The total overdue balances for all accounts.
o RECENT: The date the most recent account was established.
o OLDEST: The date the oldest account was established. Format for the above dates is DD-MM-YYYY.
o MEMBER NAME: Name of the member holding the account.
o ACCOUNT NUMBER: Account number.
o TYPE: Type of account. Values include: Auto Loan, Housing Loan, Credit Card, Personal Loan, Consumer Loan, etc.
o OWNERSHIP: Valid values are: Individual, Authorized User (refers to supplementary credit card holder), Guarantor, and Joint.
o OPENED: Date the account was opened. For credit cards and fleet cards, this is the date the card becomes active.
o LAST PAYMENT: Date the last payment was made on the account.
o CLOSED: Date the account was closed.
o REPORTED: The most recent date the reporting member reported information about the account to CIBIL. Format for the above dates is DD-MM-YYY.
o SANCTIONED: For credit cards and fleet cards, this is the highest amount of credit used (highest billing) in the history of the account. For other account types, it is the sanctioned amount of the loan
o CURRENT BALANCE: The sum of the entire amount of credit/loan outstanding, including the current and overdue portion, if any, together with interest last applied for all the accounts. A negative sign indicates a credit balance.
o OVERDUE: Total amount the account is past due.
o Status: Options include: Suit filed, Willful default, Suit filed (Willful Default), Written off, Suit filed and written off, Willful default and written off, and Suit filed (willful default) and written off.
• Enquiries – The purpose of enquiry, in the past 31 days, 12 months, 24 months as well as recent enquiries are all written in this segment.
o Total: The number of times the credit report has been requested by a credit grantor.
o Past 30 days: The number of times the credit report has been requested by a credit grantor within the past 30 days.
o Past 12 months: The number of times the credit report has been requested by a credit grantor within the past 12 months.
o Past 24 months: The number of times the credit report has been requested by a credit grantor within the past 24 months.
o Recent: The date of the most recent enquiry. Format is DD-MM-YYYY.
o Member: Name of the member that made the enquiry.
o Enquiry Date: Date on which the enquiry was made.
o Enquiry Purpose: Type of account for which the enquiry was made.
o Enquiry amount: Amount of credit for which the enquiry was made.
The credit report can display upto 36 months of payment history.
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