Credit Bureau

Loans & Credit

A credit bureau collects and maintains credit information of individuals and companies from lenders. India has four credit bureaus licensed by RBI: CIBIL (TransUnion), Experian, Equifax, and CRIF High Mark. Banks pull reports from one or more bureaus when evaluating loan applications.

In detail

The four Indian credit bureaus:nCIBIL (TransUnion CIBIL): oldest and most widely used. CIBIL score (300-900) is the de facto standard.nExperian: widely used by banks alongside CIBILnEquifax: used by some NBFCs and banksnCRIF High Mark: strong in NBFC and microfinance sectornnYou can get one free report per year from each bureau. Score may differ slightly across bureaus due to different scoring models and data timing.nnRight to free report: RBI mandated all bureaus to provide one free credit report per year to individuals.

Real-life example

🇮🇳 India example

Anita applies for home loan. HDFC Bank pulls her CIBIL report (785). ICICI Bank pulls Experian (771). The scores differ slightly but both show clean repayment history. Both banks approve at good rates. She had no idea lenders check multiple bureaus -- checking her report at all four before application would have prepared her better.

Frequently asked questions

How often should I check my credit report? ▼

At minimum once a year (use free annual report). If planning a loan application in 6 months: check 3-4 months before and resolve any errors. If you suspect identity theft or fraudulent applications: check immediately at all four bureaus.