Home Free Cibil Score 1.What is a Credit Information Report (CIR)?

1.What is a Credit Information Report (CIR)?

10 min read
What is a Credit Information Report (CIR)

What is the role of a Credit Bureau?

India’s first credit information company (CIC) or credit bureau, CIBIL‘s products and services have led to substantial changes in the performance of the financial sector to banks and consumers. Today, we have examined one of these products – Credit Information Report (CIR) – and banks and financial institutions can handle their business and get credit faster and help you better.

CIBIL collects and maintains records of credit and credit cards of individuals and companies. These reports are submitted monthly to CIBIL through its members (banks and other financial institutions). This information is then used to create a CIR and CIBIL score (3-digit summary of your credit history), which provides creditors that help analyze loan applications.

Know more about cibil loan approval process in detail?

How does the CIR affect you as a customer?


When you apply for a new loan or credit card, your payment history (or ‘credit statement’) is available to a lender. In the above diagram, the customer applies for a bank credit card. To calculate its credit qualification (i.e. monthly payments regularly?), The bank will request CIBIL for its credit score and CIR. Information on CIR details all the credit and credit cards used by him and how he paid his instalments or arrears. Customers, for example, may have household or auto loans with different banks. Banks submit monthly reports to their customers’ payments to CIBIL and make it easier for banks to determine customer value.

Lenders usually deal with all lenders equally. If each candidate accepts the lender’s internal debt policy, it will charge the same interest rate for a particular loan size and benefit. The borrowers charge a higher rate of interest to replace the small portion of lending loans as a possible alert. In other words, a college professor (lender) punished all class students (debtors) for the riots of some (defaulters).

Today, credit score and CIR lenders can respect their financial responsibilities responsibly and help the difference between users and defaulters. People who fit their responsibilities build up ‘reputational collateral’ with creditors in a manner appropriate. This cash collateral – instead – helps lenders get better terms with the lender.

Therefore, it is good to buy and review your CIR (and credit score). First, it helps you to understand what the lender reviews when evaluating your application. Secondly, it is important to locate and correct the imbalances if there is anything above the CIR to avoid any disruptions or delays in the credit analysis process. High-score loan approval is not guaranteed, it will significantly improve your acceptance of prospects, and help you take control of your financial health.

All About Cibil Credit Score and Loan Basics

What information does your CIR contain?

CIR is a monthly record of EMI payments or credit card payments related to your debts. It does not include your investment or savings details. Loans include home loans, personal loans, automobile loans and overdraft facilities.

Other information included in CIR:

Personal information such as your name, birth, address and identity banks, credit card number, passport number, number of voters and telephone number.

Such as account information such as credit availed (various loans, credit card etc), credit/credit card restriction, extraordinary current balance, overdue amount, days of payment overdue, status (written/established), etc.

A number of ‘inquiries’ made by banks about your credit profile – CIBIL requests for your CIR will be created in an “inquiry” on your “CIR” every time, CIBIL (which usually happens when a customer is applied for credit).

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