January 1, 2023

Taking a loan is a common way to access more funds. Borrowing money can help individuals and businesses manage essential expenditures or emergencies. But getting a loan often depends on the creditworthiness of a borrower.

Lenders want to be sure that their creditors will pay back the loaned amount on time. That is why banks and other lending institutions look at the credit scores of loan applicants before sanctioning their requests.

Credit scores can also influence the terms of a loan agreement. For example, you may get low Personal Loan Interest Rates if you have a high credit score! Thus, your credit score is an essential consideration while making financial decisions. But who decides these scores, and how can you get this information? Let’s explore the top agencies in India that are authorized to generate your credit report.

What Are CIBIL Agencies?

The Reserve Bank of India (RBI) has authorized four Credit Information Companies (CICs) to collect information regarding the creditworthiness of borrowers. These credit bureaus analyze and interpret the credit behavior of borrowers to generate their credit scores. They provide comprehensive credit reports for borrowers across different types of credit instruments. TransUnion CIBIL is India’s oldest credit bureau. It is also the most ubiquitous. As a result, its name has become synonymous with credit scoring. That is why many people refer to all the CICs as CIBIL Agencies. The four CICs in India are:

● TransUnion CIBIL
● Experian
● Equifax
● CRIF Highmark

Let’s break down everything you need to know about these bureaus.

TransUnion CIBIL

This institution was established in 2000, becoming the best-known credit bureau in India. Leading banks, non-banking financial institutions, and housing finance organizations refer to CIBIL scores before approving loan applications. For example, if you want a YES Bank Personal Loan, having a high CIBIL score will help your case. Here is what you need to know about this credit bureau:

Services: TransUnion CIBIL provides consumers with credit scores and complete credit reports. The credit scores it assigns lie between 300 and 900. It further generates the CIBIL ranks and commercial accounts for organizations.

Scoring Techniques: It collects information from the Consumer, Commercial and Micro-Finance Institution Bureaus to develop credit scores for over 1000 million entities. It has a calculation model called Empirica. This scoring model considers repayment history, credit mix outstanding loans, and other details.

Contact Details: Users can contact CIBIL by logging onto https://www.cibil.com/contact-us.


This American-Irish institution was the first CIC approved under the CICRA Act of 2005. It launched its Indian operations in 2010, generating credit reports with its proprietary scoring techniques. Here is what you need to know about this SEBI-approved agency:

Services: It provides credit scores for individuals and commercial proprietors in the 300-850 range.

Scoring Techniques: Experian uses the FICO calculation model to generate scores. It focuses on better risk management. Moreover, it combines individual and business information to calculate commercial borrowing scores.

Contact Details: Users can reach out to Experian at https://www.experian.in/contact-us.


Equifax India was a joint venture between 7 Indian financial institutions and Equifax Inc. USA. Since 2010, this organization has focused on creating user-friendly credit reports by minimizing complicated jargon. Let’s break down what you must know about Equifax.

Services: This institution provides credit reports to consumers. It also includes portfolio reviews and risk scores for its members.

Scoring Techniques: The Equifax scoring model accounts for the length of credit history, repayment records, credit mix, and other factors. Its scoring model calculates scores in the 280-850 range.

Contact Details: You can contacts Equifax at https://www.equifax.co.in/contact_us/en_in?intcmp=header_contact.

CRIF Highmark

Licensed in 2010, CRIF Highmark is India’s pioneering full-service CIC. It provides credit reports for multiple borrower segments. They cater to retail borrowers, MSMEs, microfinance creditors, and commercial borrowers. Here is what you must know about CRIF Highmark:

Services: It provides credit reports to different kinds of borrowers. It also offers fraud management and predictive analytics-oriented solutions to institutions.

Scoring Techniques: CRIF’s scoring model accounts for factors similar to the ones used by other CICs. An essential element they evaluate is the debt-to-income ratio. They assign scores in the range of 300-900.

Contact Details: Users can contact this institution at https://www.crifhighmark.com/contact-us.

As the above discussion highlights, credit scores calculated by India’s CICs lie in the 300-900 range. Typically, a score above 700 is considered to be high. If you want more information, like the minimum CIBIL score for Personal Loans or how to check your CIBIL score for loans against property, you can contact the YourLoanAdvisors team today!

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