Home loan seekers can access their credit information details
Home loan seekers can access their credit information details from the Credit Information Bureau (India) Ltd (CIBIL). Credit Information Reports (CIRs) of CIBIL have become an important tool for banks and housing finance companies. They provide vital information on the credit history of applicants. A home loan application was liable to be rejected on account of negative or poor scoring by CIBIL. CIBIL is an independent organization, and has access to credit information of individuals and commercial establishments.
Until now, such information was accessible only to lenders. The borrower used to get credit information from the bank where he applied for the home loan. Many times, due to wrong reporting by member organizations, 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.
Now the borrower can access their Credit Information Reports (CIRs) prepared by CIBIL. In order to get the report, one needs to fill up a requisition form available on CIBIL’s website. 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. The fee for obtaining the CIR is Rs 142. It must be paid through a demand draft favoring ‘Credit Information Bureau (India) Ltd.’, payable at Mumbai and sent to CIBIL. The documents can be sent either through email, post or fax. On receiving the documents and fees, CIBIL will process the request and send a copy of the CIR.
Source: Times of India
Bangalore, Chennai, CIBIL, CIBIL Form, CIR form, credit history, credit history of applicants, Credit Information Reports, Delhi NCR, Home loan seekers, Mumbai
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