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Old 1st March 2017, 04:48   #181
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by Majumdarda View Post
Just checked and it's possible to check the scores.
Is 813 a good score for getting a 4 wheeler loan from SBI?
Yes, wonderful score according to SBI; if your credit score is > 750 your loan (car) should be 8.75% per annum otherwise its 9.2% per annum
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Old 1st March 2017, 05:51   #182
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Default Re: Now have Access to your CIBIL Credit report

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Yes, wonderful score according to SBI; if your credit score is > 750 your loan (car) should be 8.75% per annum otherwise its 9.2% per annum
I just wanted to hear these words, as I had heard the same on the dealer floor. Thank you aargee !
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Old 1st March 2017, 07:50   #183
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by aargee View Post
Yes, wonderful score according to SBI; if your credit score is > 750 your loan (car) should be 8.75% per annum otherwise its 9.2% per annum
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Originally Posted by Majumdarda View Post
I just wanted to hear these words, as I had heard the same on the dealer floor. Thank you aargee !
Yes. I was told the same by SBI guys that if your score is > 750, the interest rate for car loan is 8.75% floating per annum. Else, it is 9.2% floating.
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Old 1st March 2017, 09:49   #184
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Default Re: Now have Access to your CIBIL Credit report

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Else, it is 9.2% floating.
I made a mistake earlier; its 9.25% floating for men & 9.2% floating for ladies
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Old 9th September 2017, 17:21   #185
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Default Re: Now have Access to your CIBIL Credit report

Guys my CIBIL score has taken a dip because of the State Bank of India.

I have a Yuva Loan at SBI for which I do not have to pay the principal amount for the first 3 years. I have been paying the interest in due time and have never defaulted. In fact I have never ever defaulted on any of my credit cards either.

HOwever, SBI, while entering the information about my loan in their system forgot to mention it as a Yuva loan but entered it as a normal loan. This triggered non-payment of principal amount which led to affect my credit score which has gone below 680 (it was 793 in February).

I need to get this rectified as banks are rejecting my credit card applications and this might also affect my future endeavors of studying abroad.

Please help me find a way out.

Another thing I am not understanding is whenever I am checking cibil.com, they are showing my credit score as 770. Am I missing something here?

Last edited by Pancham : 9th September 2017 at 17:38.
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Old 9th September 2017, 20:11   #186
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by Pancham View Post
Guys my CIBIL score has taken a dip because of the State Bank of India.

HOwever, SBI, while entering the information about my loan in their system forgot to mention it as a Yuva loan but entered it as a normal loan. This triggered non-payment of principal amount which led to affect my credit score which has gone below 680 (it was 793 in February).

I need to get this rectified as banks are rejecting my credit card applications and this might also affect my future endeavors of studying abroad.
Raise a Dispute once you login into the CIBIL portal, CIBIL will in turn check with the lender and seek details. SBI has to make the changes, CIBIL prepares the score based on the info and do not have authority to make any changes independenty.

I have a similar situation where as my score is shown different than the one that is there :(

Also there is another credit institution too, EXPERIAN CREDIT REPORT, its free to check your score here. might be as a reference you check this out. My Score in CIBIL and experian differ a lot, dont know why.
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Old 9th September 2017, 20:18   #187
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by Pancham View Post
.....This triggered non-payment of principal amount which led to affect my credit score which has gone below 680 (it was 793 in February).
.....Another thing I am not understanding is whenever I am checking cibil.com, they are showing my credit score as 770. Am I missing something here?
You have mentioned two CIBIL scores here, so I assume that the earlier one (680) is the score provided to you by the credit card bank and when you check your own report it is showing as 770, Correct?
What is the duration between the last report (680) and the one you checked from CIBIL(770)?

It might have happened that SBI may have rectified your records with CIBIL and as a result the new score is now 770.

Do check your CIBIL report properly, do you see anything under the number of days matrix? which shows the days delay in making the payment, this is taken by the Credit Card departments seriously.
Do you see any comment in the default status in your CIBIL report?

If your answer to the above is No then you are good. Else you will need to contact SBI to rectify and get an acknowledgement from them.

Also note that for every enquiry into your CIBIL report by the bank will reduce your CIBIL score by 25.

If you are worrying about rejection of education loan for studying abroad, it should not be a problem as the Credit Card is an unsecured loan and they do extra scrunity. Education loan is a secured loan where you will be providing a collateral so if you can get a letter from SBI for that mistake it shouldn't be a problem.

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Originally Posted by zaveed View Post
Raise a Dispute once you login into the CIBIL portal, CIBIL will in turn check with the lender and seek details.....
Raising a dispute with CIBIL is not of much help in this case unless the mistake is done by CIBIL. If a dispute is raised with CIBIL, it will check the source of information and if found correct it will ask you to get it rectified from the bank or get an acknowledgement from the bank. So it is better to get SBI to correct their mistake.

Last edited by jayantvs : 9th September 2017 at 20:31.
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Old 19th September 2017, 13:01   #188
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Default Re: Now have Access to your CIBIL Credit report

Guys, apologies for the late reply.

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Originally Posted by zaveed View Post
Also there is another credit institution too, EXPERIAN CREDIT REPORT, its free to check your score here. might be as a reference you check this out. My Score in CIBIL and experian differ a lot, dont know why.
Will my credit score get affected if I check my score from EXPERIAN?

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Originally Posted by jayantvs View Post
You have mentioned two CIBIL scores here, so I assume that the earlier one (680) is the score provided to you by the credit card bank and when you check your own report it is showing as 770, Correct?
What is the duration between the last report (680) and the one you checked from CIBIL(770)?

It might have happened that SBI may have rectified your records with CIBIL and as a result the new score is now 770.
Duration was not much. I doubt the score changes so fast.

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Originally Posted by jayantvs View Post
Do check your CIBIL report properly, do you see anything under the number of days matrix? which shows the days delay in making the payment, this is taken by the Credit Card departments seriously.
Do you see any comment in the default status in your CIBIL report?

If your answer to the above is No then you are good. Else you will need to contact SBI to rectify and get an acknowledgement from them.

Also note that for every enquiry into your CIBIL report by the bank will reduce your CIBIL score by 25.
Here is the thing. I am not aware of the score that the credit card company got but I am subscribed to paisabazaar.com which sends me monthly credit scores (is it authentic?). I am not sure how they get the scores from CIBIL and I never take their scores seriously. But this month I checked and it was around 660. Also, the credit company stated that they rejected my card application because of poor score.

Thereafter, I logged into CIBIL and I got this (see screenshot) where the score mentioned was 770. I am confused. Am I looking into some other webpage?

Another query - we can generate free 'report' once a year but we can view the score as many times we want. Is this understanding correct?
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Last edited by Pancham : 19th September 2017 at 13:04.
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Old 19th September 2017, 14:10   #189
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by Pancham View Post
Guys, apologies for the late reply.


Will my credit score get affected if I check my score from EXPERIAN?
I don't think so. there are 2 types of inquiries, soft inquiries (checking own score) and hard inquiries Score will get affected on a hard inquiry (like for loan or credit card)

This link details more on this : http://www.creditvidya.com/credit-sc...ore-cs119.aspx

Thanks
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Old 19th September 2017, 14:20   #190
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by Pancham View Post

Thereafter, I logged into CIBIL and I got this (see screenshot) where the score mentioned was 770. I am confused. Am I looking into some other webpage?

Another query - we can generate free 'report' once a year but we can view the score as many times we want. Is this understanding correct?
Pay the Rs500 on the CIBIL website and request for the report.
After that you will get a detailed PDF file mailed to you, which will have your score along with all the credit details.
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Old 19th September 2017, 22:34   #191
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by Pancham View Post
Thereafter, I logged into CIBIL and I got this (see screenshot) where the score mentioned was 770. I am confused. Am I looking into some other webpage?
The one shown in the picture is the correct score. I am not sure how authentic is the score that you got from paisabazaar.com.

Quote:
Another query - we can generate free 'report' once a year but we can view the score as many times we want. Is this understanding correct?
To get the latest score you need to generate a fresh report. The report as well as the score changes every month based on your credit card or loan payments. As I had mentioned earlier generate a fresh report from CIBIL and analyse the report for any discrepancies.

Any default or delay in payment is taken very seriously by some banks, they can reject a credit card even if you score is more than 750 but there is a default.
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Old 19th September 2017, 23:51   #192
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Default Re: Now have Access to your CIBIL Credit report

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Also there is another credit institution too, EXPERIAN
Actually there are three more, Experian India, Equifax India and CRIF High Mark.
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Old 20th September 2017, 14:56   #193
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Default Re: Now have Access to your CIBIL Credit report

Curios to know how the rating is actually calculated. My cibil score is 'only' 823, despite the following points. Any idea why? I was expecting it to be kind of higher.
1. No credit card or personal / vehicle / housing loans as of now.
2. Took Housing Loan around 3 years back, but closed it in around 2 years (No delayed payments).
3. Had taken a personal loan around 20 years back, but closed it in two years (no delayed payments)
4. Had taken gold loans for a year but had promptly paid back (around 3 years ago)
5. No outstanding loans

Am I missing something?
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Old 20th September 2017, 15:44   #194
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by jinojohnt View Post
Curios to know how the rating is actually calculated. My cibil score is 'only' 823, despite the following points. Any idea why? I was expecting it to be kind of higher.
1. No credit card or personal / vehicle / housing loans as of now.
2. Took Housing Loan around 3 years back, but closed it in around 2 years (No delayed payments).
3. Had taken a personal loan around 20 years back, but closed it in two years (no delayed payments)
4. Had taken gold loans for a year but had promptly paid back (around 3 years ago)
5. No outstanding loans

Am I missing something?
I am not an expert but AFAIK, the score starts from a base score initially and keeps gradually going up or down as per your financial discipline. So your score has not decreased to 823 from 900 , but rather it has climbed up from the base score to 823, which is an excellent score.

Experts can shed more light on this.
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Old 20th September 2017, 17:19   #195
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by jinojohnt View Post
Curios to know how the rating is actually calculated. My cibil score is 'only' 823, despite the following points.
Is your entire loan history available with CIBIL? My score is similar to yours (I have an outstanding home loan). I have taken and closed loans for various purposes earlier like you have done, but these do not appear in my "Account Information" in CIBIL website. Two of my friends have their (closed) loans dating 7-10 years back listed in CIBIL website. Both have outstanding loans now, but their scores are above 850.
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