If you have looked for a loan online or from your banking partner, you might have come across this metric - CIBIL score.

It is a metric that plays a crucial role in your financial journey.

In the realm of financial landscapes, your CIBIL score serves as a window into your creditworthiness.

Whether you're applying for a credit card, a personal loan, or planning a major purchase, understanding and monitoring your CIBIL score is essential.

Let's try to demystify this critical metric and learn how to check your CIBIL score for free, online, and with ease in India.

What is Your CIBIL Score?

Your CIBIL (Credit Information Bureau India Limited) score is a three-digit number ranging from 300 to 900.

It is a reflection of your creditworthiness, indicating how likely you are to repay borrowed money.

It is calculated based on your credit history and behavior.

The higher your CIBIL score, the more favorable your financial reputation appears to lenders.

Why is a CIBIL Score Considered a Critical Metric for You?

The following reasons highlight the importance of CIBIL score in your financial journey.'

1. Access to Credit

Lenders use your CIBIL score to assess your creditworthiness when you apply for loans or credit cards. A high score increases your chances of approval and favorable terms.

2. Interest Rates

A strong CIBIL score can lead to lower interest rates on loans, potentially saving you a substantial amount of money over the loan tenure.

3. Financial Opportunities

Your CIBIL score impacts not only loans but also financial opportunities such as renting a property or securing a new job, especially in industries that involve financial responsibilities like BFSI and Fintech.

On What Factors Does the CIBIL Score of an Individual Vary?

Your CIBIL score is influenced by a range of financial behaviors and patterns, including the following.

1. Repayment History

Timely repayment of your loans and credit card dues positively affects your score. Your CIBIL score always tends to stay in the higher bracket.

2. Credit Utilization

Responsible use of credit, such as maintaining a low credit card balance, contributes to a higher score.

3. Credit Mix

A healthy mix of different types of credit, such as loans and credit cards, can enhance your score.

4. Credit Duration

A longer credit history tends to have a positive impact, showcasing your ability to manage credit over extended periods of time.

5. New Credit or Credit Inquiries

Frequent credit applications in a short period can lower your score, indicating potential financial stress.

Why Should You Keep Checking Your Updated CIBIL Score?

Your CIBIL score updates with every small and big financial action that you take. Hence, you must keep checking your updated CIBIL score from time to time.

Regularly monitoring your CIBIL score offers several advantages, like the following.

1. Early Detection

Checking your CIBIL score helps you identify any discrepancies or errors that could affect your creditworthiness.

2. Financial Planning

Monitoring your score enables you to plan your financial activities strategically, especially if you're considering taking on new credit.

3. Immediate Action

If your score dips unexpectedly, you can take proactive measures to rectify the situation and improve your score.

All the Definite Ways in Which You Can Check Your CIBIL Score Online and for Free in India

Checking your CIBIL score online and for free in India is easier than you might think.

Here are the definitive steps to do it without any hassle.

1. Visit the Official CIBIL Website

Go to the official CIBIL website. Click on the "Get Your Free CIBIL Score & Report" button.

But to access your CIBIL score and report, you need to log in with your details.

You need to click on the “Member Login” button just below the "Get Your Free CIBIL Score & Report" button.

2. Click on the Login Button

Once you click on the Login button, it will redirect you to the Member Login page with a couple of fields asking for your username and password.

If you have forgotten your username or you have forgotten your password, there are links for both against the respective fields. You just need to click on those links, and they will provide you links to reset your username or password for free.

If you are new to the CIBIL website, you can simply scroll to the end of the fields, where it is mentioned: “Never taken a CIBIL score and report? Register Now.” Click on the Register Now link.

This will take you to the pricing page with details of monthly, semesterly, and yearly breakdowns of the CIBIL platform’s subscription.

This implies if you are a new user, you can’t check your CIBIL score for free on this official website!

But if you are an existing user, you need to follow the steps below, and you can get your CIBIL score for free.

2. Fill in Your Details

Once you have clicked the "Get Your Free CIBIL Score & Report" button, it will open a page where you will be asked to create your account.

Enter your personal details such as name, date of birth, and gender, and select ID type (PAN/Passport/Voter ID/Ration Card/Driving license) and the ID number.

You also need to provide your contact information, including your email address and mobile number.

Following this, you need to click on the “Accept and Continue” button at the bottom of the page, where you are giving consent to CIBIL to probe into your financial details to create your detailed report and score.

3. Answer Security Questions

You also need to answer a few security questions to verify your identity.

Provide details about your loans and credit cards to complete the verification process.

4. Access Your CIBIL Score

Once verified, you'll receive your CIBIL score and credit report via the email that you have entered on the portal.

However, this isn’t exactly a foolproof way because if you are a first-timer, you need to subscribe with a hefty fee.

So, let’s find out some other ways to check your CIBIL score online, which are totally free.

The Step-by-Step Guide to Checking Your CIBIL Score Online for Free

Most renowned online financial organizations, fintech, and NBFCs offer you the free CIBIL score check features.

These include renowned organizations like Bajaj Finserv, Paisabazaar, BankBazaar, Cred, moneyview, Wishfin, etc.

Most of them ask for your personal details like your name, phone number, and email.

Some might even ask for additional details like your gender, date of birth, pin code, and PAN.

However, you are not always sure whether these sites will generate your CIBIL report or some other credit report based on Equifax, Experian, or other indices.

Additionally, you don’t know for sure whether getting your free credit report from these sites will impact your actual CIBIL score.

So, for safety and ease, I would recommend you go visit the moneyview website and check your CIBIL score effortlessly.

For this, follow the steps below.

1. Visit moneyview Website

Go to the moneyview website.

2. Click on the Credit Tracker Section at the Top of the Homepage

Once you click it, you will be redirected to a page where you can ‘track your CIBIL score for free.’

2. Enter Contact Information

On this new page, there is a field to enter your 10-digit mobile number.

Once you do this, you will get an OTP on that mobile whose number you have entered. Verify OTP within 15 seconds.

3. Enter Additional Details

Once you click on “Verify OTP,” it will open a new page with multiple fields.

Here you have to input your personal details, including first name, last name, date of birth, PAN card number, Pin code, and email address.

Following this, you have to check the box where you authenticate the information provided and authorize this site to fetch your credit details from the relevant authorities.

4. View Your CIBIL Score

Upon successful verification, you'll receive your updated CIBIL score and a comprehensive credit report with the credit rating factors.

With this definitive guide by your side, you're well-equipped to make informed financial decisions that pave the way for a prosperous future.

Conclusion

Congratulations, you've successfully navigated the domain of CIBIL scores and learned how to check your CIBIL score online and for free!

Armed with this knowledge, you can now approach your financial endeavors with greater confidence and insight.

Remember, your CIBIL score isn't just a number – it's a reflection of your financial responsibility and a key to unlocking a world of financial opportunities.

As you embark on your financial journey, make it a habit to regularly monitor your CIBIL score and take the necessary steps to nurture your creditworthiness.