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Old 20th October 2011, 01:02   #46
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by ninjatalli View Post
823 is an excellent score. Home/car loans wouldn't be an issue - however if you have any entry in your CIBIL report with "settled" status, do clearly mention the case with details of settlement to the bank.
In my case, even though my score was a low 652, my car loan was cleared by HDFC - I had mentioned my credit card case with all details - (thanks to advice from a friend who used to work in HDFC), that served the purpose.

With a score of 823, it shouldn't be a problem at all for you!
thanks for the information. I assume this means it will be difficult for me to get personal loans (which otherwise also is difficult nowadays with clear credit history) since HDFC and Axis banks are only 2 banks which are giving personal loans easily in the market at least in Bangalore.

BTW i should be ashamed to report here that my credit card default was willful "foolishness and immatured" thinking during my bachelor days from 2003 - 2005 which i finally settled in 2008. Thanks to my wife who pressurize me to sort out this mess after i confessed everything to her

Now my question is even otherwise looking at date past due (DPD) in my Credit report even if i dont confess to bank people that it was a willful default they will still catch me Will this be a problem for me getting home/car loans if i apply in the future? I am asking this question specifically since i assume yours is not a willful default and might be genuine reason hence bank considered and sanctioned you loan?

Last edited by lazybrain : 20th October 2011 at 01:13.
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Old 20th October 2011, 03:27   #47
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Default Re: Now have Access to your CIBIL Credit report

How important is the cibil report of directors of a pvt ltd firm for applying for an SME loan?


Thanks

Pramod
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Old 31st October 2011, 17:26   #48
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Default Re: Now have Access to your CIBIL Credit report

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How important is the cibil report of directors of a pvt ltd firm for applying for an SME loan?


Thanks

Pramod
It is important since , AFAIK, directors have to furnish personal guarantees while opting for SME loans.

However if I remember right, the credit check criterion are different for working capital loan and term loan. It's better to check with the bank.
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Old 1st November 2011, 21:29   #49
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Default Re: Now have Access to your CIBIL Credit report

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How important is the cibil report of directors of a pvt ltd firm for applying for an SME loan?


Thanks

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I don't think this really matters. As Bank will send their verifier/surveyor to your place anyway.
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Old 4th November 2011, 12:40   #50
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Originally Posted by Oxy
^^ What???

This is scary man! Good that you checked it, else she would have been blacklisted for not paying that home loan.

Please keep us posted on the bank's response.
It turned out to be a big mistake by Kotak bank. As per bank they uploaded my wife's record as co-applicant b/c of similar names. Though they have cleared the account from cibil report after 1 month of follow up, I am not able to digest their theory. They are not ready to shared internal records. I am following up with BO I.e. RBI to look into the matter and investigate in detail. I am suspecting it to be a fraud.
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Old 14th June 2012, 15:31   #51
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Default Re: Now have Access to your CIBIL Credit report

Logged onto CIBIL on last saturday, completed the registeration and payment with credit card within 5 minutes. Got the report yesterday with a 840/900. Got this report for VISA supporting documents to show financial background and no-default history.

I liked the last page where it shows the parties/banks that RAN this report to CHECK your background...

I must say India has come a long way in keeping track of ones financial background across products like credit cards, debit, Personal loans, home and auto loans, etc etc... Wish this extended beyond salaried/middle class!

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These are the documents/ Fee:

1. Valid Identity Proof: PAN Card/ Passport/ Voters ID (Mail self attested hard copy of any one of these Identity Proofs)

2. Valid Address Proof: Bank Account Statement/ Electricity Bill/ Telephone bill (Mail self attested hard copy of any one of these Address Proofs)

3. Payment terms: Demand Draft (DD) of Rs 142/- (inclusive of all taxes and express delivery charge) , in favour of Credit Information Bureau (India) Limited payable at Mumbai

Please note that the fee once paid is non-refundable.

For more details check their website
What the hell?! 142Rs became 470Rs in 2.5Years! Talk about INFLATION!

NOTE - People who want to try out the online application

I did not present any ID or address proof,just logged onto the new website and verified a few 'choose the correct answer' questions. This part was not clear at first, but it is a fool proof way to check your identity - asks various questions about old loans, phone #s, etc etc, Since I verified all of them correctly I got thru very quick.

Last edited by svsantosh : 14th June 2012 at 15:37.
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Old 14th June 2012, 15:50   #52
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Default Re: Now have Access to your CIBIL Credit report

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What the hell?! 142Rs became 470Rs in 2.5Years! Talk about INFLATION!
Offline process for getting credit report still costs 154.

For 470 Rs, you get CIBIL "Score" along with report.
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Old 14th June 2012, 17:40   #53
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Default Re: Now have Access to your CIBIL Credit report

I just paid 470 and the website died! Rang up their call center and they would be sending me the confirmation email and post which I would have to send them my self attested documents. Talk about taking pains again in an online world!
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Old 14th June 2012, 22:11   #54
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Default Re: Now have Access to your CIBIL Credit report

Ok just filed in the form and authentication was successful. The report is to be mailed in 4 days. Lets see what it says as I am looking for a home loan.
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Old 18th June 2012, 18:47   #55
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Default Re: Now have Access to your CIBIL Credit report

Would my CIBIL score be affected if I fail to maintain the minimum balance in my savings account and one fine day the bank closes my account with a negative balance of say - Rs 150?

I ask this because recently my salary account was changed by my company (from Citibank to Standard Chartered) and I let my old account be without any balance/ transactions/ deposits. Citibank has now closed my account after few initial notices to maintain a minimum balance. I owed them Rs 150 just before the closure. An amount probably calculated by them as maintainenace of that account.
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Old 28th June 2012, 17:23   #56
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Default Re: Now have Access to your CIBIL Credit report

My score seems to have fallen by about 35 points! Not defaulted anyone's money but I guess it is because of the number of credit cards that I have. Need to reduce the number of cards now!
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Old 3rd July 2012, 10:52   #57
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by nitin_80 View Post
Would my CIBIL score be affected if I fail to maintain the minimum balance in my savings account and one fine day the bank closes my account with a negative balance of say - Rs 150?

I ask this because recently my salary account was changed by my company (from Citibank to Standard Chartered) and I let my old account be without any balance/ transactions/ deposits. Citibank has now closed my account after few initial notices to maintain a minimum balance. I owed them Rs 150 just before the closure. An amount probably calculated by them as maintainenace of that account.
Savings account balance wouldn't matter. CIBIL score is decided by past repayment history of any kind of credits you had taken (loans / credit cards / overdraft). At the very maximum, during the loan check, they might find that you owe the bank 150 Rs. You can tell the lending bank that this was due to some salary account change, they won't bother much. It is your loan repayment history they are more bothered in.

How did you owe them 150? did you utilize the overdraft or something? If so, overdraft will be classified as a form of credit and history of that OD will appear in the CIBIL report.

P.S - even I changed my job last year and my salary account got changed from citibank to HDFC. As far as I know, they will just remove the salary account tag and yours will become a regular savings account with the need to maintain minimum balance of 25k. If you don't maintain it, they will charge 250 Rs. per month as a kind of penalty. I still have some EMIs and insurance premium monthly installments coming in at that citibank account, so I am still using my that account for those transactions (by transferring from hdfc to citi every month for those payments). They won't close the account straight away unless you ask for closure, because they will be losing customers

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Originally Posted by amtak View Post
My score seems to have fallen by about 35 points! Not defaulted anyone's money but I guess it is because of the number of credit cards that I have. Need to reduce the number of cards now!
In fact, now if you make prompt payments on all the cards without missing the deadline, your points will go up even higher than by closing cards . Trying to close the cards now might be troublesome. Some credit card companies don't close your account on CIBIL even though you initiate a proper closure and pay back fully. You might have to wait for months to see an all clear record on CIBIL if you close cards now.

Last edited by KarthikK : 3rd July 2012 at 10:58.
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Old 3rd July 2012, 11:15   #58
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Default Re: Now have Access to your CIBIL Credit report

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Originally Posted by KarthikK View Post
Trying to close the cards now might be troublesome. Some credit card companies don't close your account on CIBIL even though you initiate a proper closure and pay back fully. You might have to wait for months to see an all clear record on CIBIL if you close cards now.
Before closing a card account, it is better to pay a couple of hundred rupees more than the total amount due, and ensure the credit balance is reflected in the subsequent month's statement.
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Old 3rd July 2012, 14:11   #59
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Default Re: Now have Access to your CIBIL Credit report

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How did you owe them 150? did you utilize the overdraft or something? If so, overdraft will be classified as a form of credit and history of that OD will appear in the CIBIL report.
Thanks for the information @KarthikK.
The amount, Rs 150, that I owed them was the maintenance charge on the savings account since I was not maintening the minimum balance of 25k that is needed for a regular savings account. I had transferred all the money hence the negative balance.
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Old 9th August 2012, 23:05   #60
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Default Re: Now have Access to your CIBIL Credit report

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Before closing a card account, it is better to pay a couple of hundred rupees more than the total amount due, and ensure the credit balance is reflected in the subsequent month's statement.
+1 to this. Even i am doing this since last 3 years. I pay 200-500 INR over my total amount due before the due date. Not sure whether this improves CIBIL score, but anyways its a good practice and there is no harm.
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