What is the difference between “High Credit” and “Sanctioned Amount” on my credit report?

 ‘High Credit’ in the accounts section of your credit report is only displayed with credit card and overdraft accounts. It denotes the highest credit utilized in a single month over the life of that credit card. For example, 2 years ago I spent Rs. 75,000 on some emergency medical treatment on my credit card (which has a credit limit of Rs. 1,00,000). Given, that was the single highest monthly balance in the history of my credit card usage, this is what gets reflected in my credit report.

‘Sanctioned Amount’ is displayed along with credit facilities other than credit card and overdraft accounts. The Sanctioned Amount field denotes the amount disbursed to you.




   


         

What is the content of a CIBIL report?

CIBIL only reports loan and credit-card information such as repayment track, loan type, amount outstanding, loan amount disbursed, various dates, etc. The report also contains a customer's personal information like name, address, date of birth, phone number(s), passport number, voter's ID number, PAN, etc. In a commercial credit report the inputs are similar but include some additional details pertaining to the commercial entity like legal constitution, registration number, etc. The credit report does not provide any opinion or comment on whether a loan should be extended to a customer. It reports the facts that its member banks and financial institutions have reported.

Credit Information Bureaus and 'CIBIL'

A credit bureau is a repository of credit information of all customers of its members, which comprises banks and financial institutions. CIBIL (Credit Information Bureau of India Limited) is one such organization that collates credit information contributed by its members and disseminates it to lenders, helping them in their credit-decision-making and lending process. CIBIL houses only credit information i.e. information on loans and credit cards. It does not have any details of customers' savings accounts or fixed deposit accounts. Members share this credit information of their customers with CIBIL month on month so that CIBIL's database is updated. This information is then used by credit underwriters to make effective credit decisions.



Therefore, with proper financial planning and by maintaining a good track record of repayment of dues for loans / credit cards, you will be able to build a good credit history for yourself. This, in turn, may help you in getting future loans / credit cards easily or on better terms.

Housing Loan, Bank Loan rejected? Rectify CIBIL Credit Report. Credit Information Bureau (India) Ltd. Apply and Get CIBIL Credit report.

The Credit Information Bureau (India) Ltd (CIBIL) now allows individuals access to their credit information reports. Home loan seekers can access their credit information details prepared by CIBIL. In case of any mistakes,they can be rectified. Previously,a borrower used to get credit information from the bank where he applied for the home loan.A home loan application was liable to be rejected on account of negative or poor scoring by CIBIL.The lenders never provided the CIR to borrowers.

The Credit Information Bureau (India) Ltd (CIBIL) now allows individuals access to their credit information reports (CIR). Home loan seekers can access their credit information details prepared by CIBIL.

CIBIL'S CREDIT REPORT INCLUDES:

Name and address of borrower Identification and PAN numbers Passport details Date of birth Records of all the credit facilities availed by the borrower Past payment history Amounts overdue Number of inquiries made on that borrower by different mem bers Suits filed and their status The CIR does not contain Income and revenue details Amounts deposited with banks Details of assets Details of investment

Now,individuals can access their credit information as analysed by CIBIL. In case of any mistakes,they can be rectified.

Previously,a borrower used to get credit information from the bank where he applied for the home loan.A home loan application was liable to be rejected on account of negative or poor scoring by CIBIL.The lenders never provided the CIR to borrowers. Once a borrower found out that the credit information was incorrect,on his request,the lender would provide him a nine digit unique borrower control number.

With the control number,the borrower was supposed to contact CIBIL to get the exact details related to the negative or poor scoring details.Many times,due to wrong reporting by member organisations,it was found that the CIBIL report was incorrect.In order to get the mistakes rectified,the borrower had to go through a long process.

A borrower can now access his CIR directly from CIBIL.A CIR is a record of the credit payment history compiled from information received from credit institutions.The purpose is to help credit institutions make informed lending decisions - quickly and objectively - and enable faster processing of credit applications to help provide quicker access to credit at better terms.

In order to get the report,one needs to fill up a requisition form available on CIBIL's website (www.cibil.com). After filling the form,you have to provide self-attested copies of some documents to CIBIL.The documents needed with the application are identity proof and address proof.



With the new base rate system of interest rates coming into effect,it would be all the more beneficial for home loan borrowers.The interest rates will henceforth be based on the base rate plus a premium depending on the credit rating of the borrower.A good credit rating helps in getting a loan at a lower interest rate as compared to a loan based on a bad credit rating. 

How to resolve the cibil problem ?

we have paid all the dues at bank with out pending even a penny. even today they are showing in cibil report some default ???????????? help 

You must contact your bank official and get the details why it is showing default against your name even though you have cleared all your dues. After put a compliant on bank website. If within 15 days you don't receive any satisfactory reply you can file complaint with banking ombudsman with a copy of your complaint as a proof. If you directly file complaint with ombudsman your application will be rejected because complaint should be first given to bank manager.

What is the difference between an “Account” and an “Enquiry” on my CIBIL credit report?

The ‘Accounts’ section of your credit report contains existing and past credit facilities that you have availed from various loan providers. For example, if you have a home loan and a personal loan, your credit report will reflect both accounts on your credit report along with details such as the name of the lender, type of credit facility, dates of opening and closing (if applicable) of each account, current balances, status of the accounts and your payment history. Your credit report summarizes your credit behavior across these accounts for the last 36 months.


The ‘Enquiry’ section of your credit report will be populated when a lender accesses your credit report from CIBIL in order to evaluate your loan application. If you have applied for a home loan of Rs. 10,00,000 then the ‘Enquiry’ section of the credit report will be populated to show the name of the lender you applied to, along with the enquiry date (date on which the lender has accessed your credit report, enquiry purpose (in this case it was a home loan) and the enquiry amount (which would be for Rs. 10,00,000 in this case). All enquiries made by lenders in the past are displayed here.


There is a critical distinction between an Account and an Enquiry in that the former denotes actual loan obligations that you currently are bearing while the latter denotes that you had applied for a loan or other credit facility from various lenders. Given that open accounts have an impact on your ability to repay additional debt obligations, having many open accounts may result in your loan application being viewed negatively by a lender. This need not necessarily be the case if you have many enquiries on your credit report.


We providing assistance on behalf of the client to get CIBIL report.


Please note we neither working on behalf of CIBIL nor any other government department.
We are Independent financial advisers.


Our services includes
1. Assisting for applying CIBIL reports
2. Helping for CIBIL report correction
3. Assisting getting loans from nationalised or private banks or NBFCs
4. Representing CIBIL issues and other matters to client's bank
5. Getting NO DUE CERTIFICATE from banks on behalf of client after settling account
6. Liasioning between Bank and Client to sort out the matter of credit cards or loans


NOTE:
CIBIL REPORT IS STRICTLY PRIVATE AND CONFIDENTIAL DOCUMENT NEVER DISCLOSE IT


We are not providing any free services but advising professionally and result oriented.


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