Free Credit Score Check Online: How to get credit report from CIBIL and others at zero cost

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Updated: Dec 22, 2020 4:11 PM

RBI has directed all the four credit information companies in India to provide one free full credit report including credit score, once in a year.

Free credit score check online, How to get free credit report, EMI moratorium, CIBIL TransUnion, Equifax, Experian, CRIF High MarkTo get a free credit report from CRIF High Mark, CIBIL TransUnion, Equifax or Experian, one may visit their website.

If you are wondering how to get a free credit report and credit score, you need to hurry up, at least for this year. As per the RBI rules, any individual can ask for a credit score and the credit report from any of the credit information companies (CIC) or credit bureaus like Equifax, Experian, CRIF High Mark, and CIBIL TransUnion. Checking the credit score is always on the mind before going to take a loan. In these times, when COVID-19 has impacted the income of several individuals, keeping your credit score intact makes sense.

The government had announced EMI moratorium and many borrowers did avail of it. But, even if one has availed the moratorium, the government made it clear that there should not be any impact on the credit profile of the borrower. Keeping a tab on the credit score and the credit report helps especially at the time of taking a loan. “Given the importance of the credit report in an individual’s financial matters, RBI has directed all the four credit information companies in India to provide one free full credit report (FFCR) including credit score, once in a year (January- December), to individuals on request in case their credit history is available with the CIC,” says Navin Chandani, MD & CEO, CRIF High Mark.

But, just in case, you fail to do so by December 31, 2020, not much will be lost. “If a user has not requested for a credit report by Dec 31 2020, they can still do so in the next year and the report will still be free,” informs Chandani.

How to apply

You can even apply for a free full credit report (FFCR) from all the bureaus. To get the free credit report or credit score, you can visit the website of the bureaus and provide the date of birth, address, PAN or Aadhaar number, identity proof etc. Some credit bureaus may send you the report in 24 hours while others may allow you to down instantaneously.

Checking credit report

It’s important to go through the report and see whether the details mentioned are fine, for any changes, you may write to the bureaus. “This can help individuals guard against fraud and identity theft. They can also point out any discrepancies in their credit information report to their respective lender and have this amended if the lender is in agreement,” says Chandani

How it helps

For those who are thinking to take any loan be it a car loan, home loan or a personal loan from any institution including banks and NBFCs, the credit score plays an important role. Some banks like Bank of Baroda offers a lower rate of interest to those having a high score.

“The FFCR will show the latest position of the credit institutions’ exposure to the individual as per records available with the CIC. The report contains credit score, summarization of credit information, individual credit-related information (term, outstanding, delinquency), historical searches for individuals to easily understand the credit performance and behaviour. Further, the report contains detailed information of borrowers’ credit/loan history, including identity information, credit accounts, loans, credit cards, payments, and recent enquiries,” adds Chandani. Knowing the credit score helps in getting a loan at better terms. If the score is low, one can follow the right steps to improve the credit score as well.

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