A CIR(Credit Information Report) gives you the details of your credit histroy and maintains a track record on how you borrow and repay your loan from finanacial institutions. The loan could relate to n number of accounts the borrower holds in any financial institution regardless of whether it is a home loan, personal loan, car loan etc.
The CIBIL (Credit Information Bureau of India Ltd.) consolidates your information of credit history, which they receive from the information sent by various financial institutions as well as from NBFCs. Later, this information is passed on to the lending information seeking information about the prospective loaner.
This report can be accessed for a fee.If you find any fault with your report, you can approach your lending institution and rectify the same.
The CIR can be availed by following the steps mentioned below :
1) Fill up a CIR request form. It can be downloaded from www.cibil.com/accesscredit.htm
2) Also submit self-attested copies of address proof (bank statement, utility bill) and identify proof (PAN card, passport or voter’s ID.)
3) Make demand draft Rs 142 in favour of ‘Credit Information Bureau (India) Ltd’, payable at Mumbai.
4) Send documents and draft to Cibil at: Hoechst House, 6th Floor, 193 Backbay Reclamation, Nariman Point, Mumbai 400 021
Things to remember :
1- The CIR does not rate, rank or classify you as a financial individual. It just provides you with the factual information pertaining towards your lending and borrowing habbits.
2- If you happen to find any errors in the report, approach your lending institution and not the CIBIL, since the report, after alteration by the member branch, will be accepted by the CIBIL. So it is important to confront your branch first.
3- Any third person, will not be allowed to view your CIR. The authority of viewing your report lies only with CIBIL and you.