best credit score site in India
What is a Credit score? A credit score is a measure of a person's ability to pay back the loaned amount he took like personal loans, home loans, Credit cards, Unsecured loans. This score is derived from your past credits taken and re-payed. This score varies from 300 to 900, the higher score means a person is loan worthy and lower credit score means he is less worthy to be provided with a loan.
What is the best site to get a free credit report? You can check the credit score for free without paying any fee from the following official websites itself that are allowed by the Indian government.
All lenders and NBFCs reply on credit reports to provide loans or credit cards to individuals. The credit bureau collects and aggregates data from its members to provide information regarding credit history and creditworthiness of an individual
In India, there are many companies that claim they provide credit scores for free but in fact, there are only four companies that are allowed to generate credit scores in India. Many websites use their interface to check credit score
These are the four major companies in India that are permitted to provide credit scores in India by the RBI.
- Transunion CIBIL
- Experian
- CRIF High Mark
- Equifax
All the four companies use similar data inputs to provide a credit score to an individual only the algorithm they use might vary in accessing each individual, they rely on the member banks and NBFCs to generate a score. Lets us know more about each of the free credit score providers in detail.
Transunion CIBIL
Transunion is an American multinational firm acquired CIBIL in 2016, CBIL is one of the most trusted credit score providers in India approved by RBI in 2000. Transunion Cibil maintains one of the largest collections of credit information in the world, It's purpose is to asses loan risk of the individual and provide credit score, cibil provides free credit score to everyone for free but if you need the complete report then you need to pay Rs. 550 without any fee, Many sites like BankBazaar, BajajFinserv, Paisabazar and so on.
Check your free cibil score from Transunion Cibil score "Click here"
Experian
Experian is an Irish consumer reporting multinational giant started its services in India 2010 to provide credit score, It is one of the 4 credit reporting companies approved by RBI. Experian has more than 1200 clients around the world and has a vast experience in data analytics. You can easily check your credit score for free but they will charge a fee for a complete report i.e Rs. 400 plus GST.
Most of the banks rely on one of these 4 companies for credit reports
Most of the banks rely on one of these 4 companies for credit reports
CRIF High Mark
The high mark was acquired by CRIF in 2014, It launched its credit bureau operations in 2010 by the approval of RBI. It manages the largest microfinance credit bureau in the world with its presence in more than 30 countries offering a wide range of financial services to clients and businesses. This is of the best sites to get your free credit score checked in India. For a complete report, you need to pay Rs. 400 plus GST.
Check your free credit score by CRIF High mark "Click here"
Equifax
Equifax is an American multinational, started its services in India from 2010 to provide credit reporting, Equifax sells credit monitoring and fraud prevention services directly to consumers. With the presence of over 24 countries. You can check credit score for free but for the complete credit report you can pay Rs. 400 plus GST.
Check your free credit score by Equifax "Click here"
Also, read How to improve your Credit score
