India has three credit rating agencies namely CIBIL (Credit Information Bureau (India) Ltd), Equifax India and Experian India. These rating agencies regularly collect information from creditors, lenders, utilities and other debt collectors to process the data into a readable and usable form and provide credit information reports on individual consumers for lenders. These credit reports plays a critical role in the loan application process. Therefore it’s important to know and monitor your credit score on a regular basis to check for any inaccuracies.

Credit reports contain information like name, age, address, list of credit facilities, repayment track record and a credit score. This information helps lenders assess credit worthiness of their borrowers and their ability to pay back a loan if granted. If the credit score is low, the lender may not even consider the application further. If the credit score is high, the lender will consider other details to determine if the applicant is credit-worthy. IndiaFilings can help you obtain your credit information report from all three credit rating agencies in India and provide advisory services for improving your credit score.


A credit report is a report prepared by a Credit Rating Agency, which contains information relating to the credit worthiness and repayment track record of an individual. Credit Report’s contain information like name of the individual, age, addresses, list of credit facilities availed and repayment record.
Credit Rating Agencies are companies that routinely collect repayment records from banks, utility companies and other financial institutions, and relate that information to an individual to provide an opinion on the individual’s creditworthiness. India has three credit rating agencies namely CIBIL (Credit Information Bureau (India) Ltd), Equifax India and Experian India.
Based on the individual’s age, list of credit facilities availed, repayment track record and request for new facilities, Credit Rating Agencies calculate a Credit Score. The Credit Score is a composite of the above factors represented as a number. The higher the credits score the better. Borrowers with high credit score enjoy lower rate of interest when compared to borrowers with lower credit score.
CIBIL stands for Credit Information Bureau (India) Limited. CIBIL is one of the major Credit Rating Agencies in India. The report prepared by CIBIL on an individual’s credit worthiness often plays a major role while applying for loans or new credit facilities.
The Credit Report prepared by CIBIL is called a CIBIL Report. CIBL Report contains a CIBIL score which represents the creditworthiness of an individual. CIBIL uses a number of factors to arrive at the CIBIL score, key among them include: list of credit facilities availed, repayment track record and request for new facilities.
Meerad will first help obtain your Credit Report from all three rating agencies in India. Based a review of those reports, our Financial Professionals will provide you with advice and steps to improve your credit score.
The first step to improving your credit score is to knowing your credit score from all three agencies. Then the following can help you improve your credit score over time: paying your dues on time, keeping credit card balances low, maintaining a healthy mix of credit like home loan, auto loan, credit cards etc., instead of just having too many unsecured loans, applying for new credit minimally and maintaining vigil over accounts for which you have co-signed or guaranteed.
It is sometimes possible for erroneous information to be present in a Credit Report. IndiaFilings can guide you through the process for removing erroneous information from the Credit Report and improving your Credit Score.
Credit reports can be requested and obtained from the Credit Rating Agencies in 10 to 15 working days after submission of the application along with the supporting documents.
In case you are planning to request for a major loan like a home loan or auto loan, it is always good to know your CIBIL score before-hand and correct any errors, if present. Otherwise, its good to keep track of your credit score once a year.

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