When one thinks of financial check-ups, the most popular choice that comes to mind is the Credit Information Bureau of India Limited which is also known as CIBIL. CIBIL is the country’s standard format for credit scores and any bank, non-bank financial institution or any other financial institution will check the applicant’s CIBIL score before approving any applications for loans and hence it is imperative that one knows their CIBIL score.

With the New Year, many people set themselves goals of losing weight, being healthy, being fit and giving up vices such as smoking and as important as it is to be healthy and take up healthy habits and keep a check on one’s health, it serves one well if they checked up on their financial health as well. An annual check-up of one’s health is beneficial in many ways and can help diagnose and detect illnesses or anomalies earlier on, similarly financial health check-ups every year will keep your credit score in good stead.

Any person can be up to date on their CIBIL score by following these six simple steps

1)      Acquire and Fill up the CIBIL score request form online: The first step in acquiring the CIBIL score is to log onto the website of CIBIL and go to the section for applying for the credit score. The direct link to this section for accessing the request form can be reached by clicking on the following link. CIBIL.com/online/credit-score-check.do

2)      Filling in the details: Once the request form has been acquired, the applicant needs to fill in the necessary fields of information. The applicant will have to provide all details requested and the more details provided, the better. The details that are normally required to be filled in include PAN card, Passport details and other identity proof details such as a Driver’s license or Voters ID

3)      Submission of the form and Payment: After the applicant has filled in the form and verified it by entering the anti-spam codes, they are required to click on proceed to payment option which will direct them to the next page. This page will require them to authenticate a payment. The payment for credit score request is Rs 500. This payment can be made through Debit or Credit Cards or through Net banking facilities.

4)      Authentication: This step follows the payment. The system on the authentication page generates a set of questions, usually around 5 that are based on the details submitted and may range from details of the current loans or the details of the applicant’s bank account. A minimum of 3 successful answers should be given for authentication success

5)      Confirmation: The final step is confirmation. Once the confirmation message has been generated by the system, the applicant will receive the CIBIL scores within four business days. Applicants will also receive a payment receipt confirming the payment made towards the request

6)      The authentication fail step is needed only if the 4th step is unsuccessful. In case authentication is unsuccessful, a copy of the payment slip along with self-attested documents need to be sent over to the registered corporate office of CIBIL in Mumbai. Applicants can also reach out on the helpline number for any guidance which is +91-22-61404300.

The payment towards acquiring the CIBIL Score is a meagre amount and the process is relatively hassle free. The online process is convenient and allows applicants to view their credit scores and make sure they are on top of scores that are straying or falling below the desired levels.

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