Understanding the terms and keywords in CIBIL Report:

Understanding the terms and keywords in  CIBIL Report:

AC (ASSET CLASSIFICATION)

It is important to note that some banks report DPD [please refer to the DPD description for more information] as per the Asset Classification norms defined by RBI, which are as follows:

 

DPD (Denotes)-       Explanation:

STD (Standard)- Payments are being made within 90 days. Any account overdue by more than 90 days is classified a Non- Performing Asset   (NPA) by banks

SMA (Special Mention Account)- Special account created for reporting Standard account, moving towarcls Sub-Standard

SUB (Sub-Standard)-An account which has remained an NPA for up to 12 months

DBT   (Doubtful)-          The account has remained a Sub-standard account for a period of 12 months

 LSS  (Loss)- An account where loss has been identified and remains uncollectible

ACTUAL PAYMENT AMOUNT

Is the amount you have paid to your lender if it is different from the EMI Amount. This may be more or less than the EMI Amount.

AMOUNT OVERDUE

Indicates the total amount that has n ot been paid to the lender in a timely fashion (includes principal and interest amount].

CASH LIMIT

Applies to credit cards specifically. It is the amount of cash you are permitted to withdraw from your credit card.

CN (CONTROL NUMBER)

This is your report number and is essential if you feeI you need to raise a Dispute Request.

COLLATERAL

Is provided to a lender as security to protect the lender in the event you are unable to repay your loan. This may be property. shares, gold, etc.

CREDIT LIMIT

Applies to credit cards and overdraft facilities. It reflects the total amount of credit you have access to with regard that credit card or overdraft facility.

CURRENT BALANCE

Is the amount you still owe on a particular credit facility. Lenders typically take 3B-US days after your payment is received to update this information with CIBIL

DPD (DAYS PAST DUE)

DPD or Days Past Due appears in the Account Information section of your CIR. The DPD indicates how many days a payment on that account is late that month Anything other than “000” or ""STD"" |please refer to the ASSET CLASSIFICATION description for more information] is considered negative by a lender. Up to 3 months of this payment history (with the most recent month displayed first] are provided.

On occasion you may see "XXX” reported for your DPD on a certain account which implies that information for these months has not been reported to CIBIL by the bank.

EMI AMOUNT

Is the EMI (Equated Monthly Installment] that you pay on the loan.

ENQUIRY

Enquiries are added to your report when you apply for a loan or credit card and the lender decides to access your CIR. Details such as the name of the loan provider size and type of loan are captured in this section. Please note that the date of the enquiry may differ from your actual application date because the lender may access your CIR a clay or more after you have applied.

HIGH CREDIT

Applies to credit cards and facilities. It reflects the highest amount ever billed [lncluding interest and fees] for that particular credit ca rd or overdraft.

OWNERSHIP

This field tells the lender who is responsible for payments on that loan or credit card. There are 4 types of indicators that can appear on your CIR:

 

·    Sing le: You are solely responsible for making payments on the account.

·    Joint: You and someone else bear joint responsibility for payments on these accounts. This will also reflect on the other individual's CIR

·    Authorized User: This is used for ‘a d d-on’ ered it cards that you may have. While this reflects on your CIR, lenders know that you are n ot responsible for paying dues on that particular account

·    Guarantor: A guarantor pied ges to repay a loan on behalf of a third party who has taken a loan. Hence, he provides a guarantee to the lender that he will honour the obligation, in case the principal applicant is unable to do so.

REPAYIVIENT TENURE

Is the term of your loan. This field is to be read with the "PAYMENT FREQUENCY“ field in order to accurately understand the term of the loan. For example, 120 at a monthly payment frequency would mean the term of the loan is 10 years.

SANCTIONED AMOUNT

This is the loan amount disbursed to you. Applies to account types other than credit cards and overdraft.

SETTLEMENT AMOUNT

When an amount owed on a loan account is disputed, the individual and lender settle at some amount in between. It’s what the lender believes is owed and what the individual believes he should pay. This is the amount the individual has agreed to pay. The rest of the amount (that the lender believes is owecl] is written-off by the lender.

SUIT-FILED / WILFUL DEFAULT

In case the lender has filed a suit against you, there is specific reporting prescribed by the Reserve Bank of India (RBI]. This is as follows: 

1. No Suit Filed [or the field will be blankl]

2. Suit filed

 3. Wilful Default 

4. Suit filed (Wilful Default]

WRITTEN-OFF AMOUNT (PRINCIPAL)

This field reflects the principal amount written-off by the lender. It follows that the difference between the total and principal written-off amounts is the interest amount that has been written-off on this account.

WRITTEN-OFF AMOUNT (TOTAL)

When a loan is written-off there is an interest and principal component. This field reflects the total interest and principal amount written-off.

WRITTEN-OFF AND SETTLED STATUS

 If this section is populated, the lender has either rest ructured your loan by offering you different terms (extended the loan tenure or reduced the interest rate, etc], written -off this amount, or settled at some amount less than what the lender believes it was owed.

The possible values are a s follows:

1. Restructured Loan

 2. Restructured Loan [Govt. Mandated]

3. Written -off (WO) 1. Settled 2. Post [W0] Settled"