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Understand CIBIL Score registration & login Process

by Alex Hales

When you apply for a loan at a bank or other registered loan providers, the lenders seek information about your credit score from CIBIL to know your financial status and credibility to repay the loan amount. It is only after the approval of the CIBIL that the banks proceed to debit the loan amount to your account. Therefore, you must frequently check your CIBIL score to evaluate your chances of securing a loan by negotiating the interest rate. However, to check your score and credit score, you need to complete the CIBIL score login procedure. 

This blog discusses the steps of CIBIL score login and registration for businesses and consumers.

Registration and Cibil Score Login 

To complete the registration and login procedures, people need to visit the official website of CIBIL. This is the first step to knowing one’s credit score and report. However, the steps of registration are different for individuals and for companies. These steps are discussed below:

  • Customer Registration

As a customer, you can log in to the CIBIL website to get single-free access to your credit report and score. Later, you can take a monthly or annual CIBIL subscription to get the report. However, you need to complete the registration by taking the following steps:

  • Select the subscription offer from the provided list at the official CIBIL website.
  • Fill out your basic details like email address, PAN, gender, name, etc. Here you must fill in the PAD details carefully to proceed to the next step.
  • Accept the CIBIL terms and conditions mentioned on the web page by clicking on the box against each point.
  • Click on the ‘payment’ option and make the online transfer by selecting a suitable fund transfer method.
  • Provide correct information for your credit card and loans. The bureau contacts all the financial institutions that are linked to your PAN to collect financial statements to prepare credit scores and reports.

Registering as a CIBIL member offers multiple benefits to people. These include the following –

  • They get a nearly 45% waiver for each report.
  • Regular access to the CIBIL credit score.
  • Custom-made credit cards are provided at a competitive rate. 
  • Company Registration

CIBIL offers registration to companies to get financial aid from various banks. The credit score of companies varies from 1-10. However, unlike individual scores, a higher score makes a company less credible for loan approval. Ideally, companies with scores between 1 and 4 are more likely to get loans at comparative interest rates.

Following are the steps of CIBIL company registration:

  • Fill up the form for company credit score at CIBIL official website by providing details of legal constitution, name of the company, address of the company’s office, contact number, PAN, ID number, etc. and press the payment option.
  • Use a credit card, net banking or debit card transfer option to make the payment of the required amount.
  • You will receive a unique ID for login purposes along with the receipt of payment on your registered email address.
  • After successful completion of the company registration, you must upload the necessary KYC document of the company for the preparation of the credit score report.

Benefits of Good Credit Score 

Following are the primary benefits of having a good score for an individual and company:

  • Instant approval of an applied loan without a lengthy enquiry process.
  • A good credit score enables people and companies to negotiate interest rates.
  • It offers a high limit for credit cards.
  • A good CIBIL score offers an attractive waiver on the processing charges of the loan.

Conclusion 

CIBIL score login and registration is essential for companies and customers to get financial assistance with minimum verification requirements. This happens because banks find CIBIL registered members more reliable. In addition, the members can easily perform score checks and get reports at a huge discount. Therefore, if you want to improve your credibility by improving your score, consider registering on the official CIBIL website.

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