CA SONIYA AGARWAL (self practice) (3005 Points)
11 December 2013WHAT IS CIBIL . WHAT CIBI BANK PREFER FOR SANCTIONING LOAN , WHAT IS GUD AND BAD CIBIL , CAN CIBIL BE REMOVED IF INDIVIDUAL DISCHARGE ALL ITS LOAN DUES
S JEEVARETHINAM
(Sr Manager Finance and Taxation)
(137 Points)
Replied 11 December 2013
CIBIL is common platform of identifying the credit worthiness of loan borrower. Bank is normally cross checking with CIBIL Score of loan applicant based on PAN Tracking. Whatever you obtained the loans with difference institution, it will refelect on the CIBIL Database based on the PAN Tracking. If CIBIL score is above 800-900, Lending Institution may provide loan facility. CIBIL will not remove any database of Individual unless you settle the loan amount with concern bank. After obtaining no objection certificate from concern bank/loan instition, you can apply with CIBIL to remove such issues stated in the CIBIL score. [You can obtain the online CIBIL score after making online fees of apporx of Rs 600- 700 to know the present status of CIBIL score]
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