Credit Score for Individual CIBIL v/s Credit Rank for Company CIBIL

Credit Score v/s Credit Rank:

Though both the credit score and credit rank is for evaluating the creditworthiness, both have some distinct purpose. Have a look at them below.






What is CIBIL Company Rank? How do I get one?

In order to manage the ever-rising NPAs(nonperforming assets), TransUnion CIBIL has launched CIBIL MSME Rank (CMR) on 28th February 2017. The ranking system will assess the credit risk of the MSME companies. It uses machine learning and data algorithms to predict the probability of default in next 12 months. In this post, we will discuss in detail what is CIBIL Company Rank? and How do I get one for my company, in case you run a company.

The ranking system provides rank on the scale of 1 to 10 based on the credit history of the company. Where scale 1 being the least risky and 10 being the riskiest company. The higher the CMR rank higher the risk of NPA. The ranking will be done for the company which has a credit exposure ranging from 10 lakhs to 10 crores. For the ranking purpose, credit history of past 24 months will be taken into consideration to derive

What is the CIBIL Rank?

The CIBIL Rank is a summary of your company’s credit rating (CCR) in the form of one number. It is similar to the individual credit score provided by CIBIL. The ranking will be done on the scale of 1 to 10 where 1 is the highest rank that can be achieved by the company. It only evaluates the company that has credit exposure of Rs. 10 lakhs to Rs. 10 crores. It predicts the future of the company on the likelihood of making a default on loan repayment, which is one of the key factors for any bank or credit institutes.

The CCR is the record of your company’s credit history submitted by banks and credit institutes across India. The past payment trend is the key indicator of its future repayment behavior. It is therefore important to understand the CCR is relied on by loan providers to evaluate and approve the loan application.


How to get your company credit report? / CCR- Company CIBIL Score and Report

Step 1- Visit the website- https://www.cibil.com/online/Company-credit-report.do

Step 2- Fill in the details as required in the form like name and address of the company, contact details of the company and applicant, PAN number and other details and additional information.

Step 3- Make payment of Rs 3,000 via debit/credit card, net banking or cash card.

Step 4- After making the payment, CIBIL will assign you a unique Registration ID and Transaction ID which will be mailed to your email ID. You can use the ID to access the next steps.

Step 5- Upload your KYC documents.

That’s it! You are done. The CCR and CIBIL Rank will be delivered to you at the earliest.

What does my CIBIL Score mean?

Your CIBIL Score is one of the most important parameters considered by lenders before approving your loan application. CIBIL Score also provides lenders necessary insights into your credit history through past patterns of credit usage and loan repayment behaviour. It acts as a guiding principle for lenders, making the loan approval process faster. Any score greater than 750 is a good CIBIL Score and helps lenders in assessing and approving your loan application.

 

What is a CIBIL Score?

CIBIL Score is a 3 digit numeric summary of your credit history, derived by using details found in the ‘Accounts’ and ‘Enquiries’ sections on your CIBIL Report and ranges from 300 to 900. The closer your score is to 900, the higher are the chances of your loan application getting approved.


How to get your Individual CIBIL Score and Report? 

Free CIBIL Score and Report : From Credit Bureau Company by Visiting their Website.

Step 1: Create an Account

Create your own username and password. Enter your name, email ID and mobile number.

** keep your username and password safe! You can use these credentials to login & access Unlimited CIBIL Score & Report in the future.


Step 2:  Enter Personal Details

These would be your Date of Birth, Address, identity proof such as your PAN card and Aadhar number.

** Ensure you enter these details as they appear on your ID proofs.

Step 3: Verify Your Identity 

Credit Bureau Company  will send you an OTP to verify your details, or they may ask fr more details, just so that they know it,s really you.

** For faster authentication, keep all loan account details available (details of different accounts- Credit Cards, Home Loan, Personal Loan etc.) and ensure your mobile phone and email is handy.

Step 4: CIBIL SCORE AND REPORT

You will receive your report. You can download or keep in mail.

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