What is the difference between "High Credit" and "Sanctioned Amount" on my credit report?

‘High Credit’ in the accounts section of your credit report is only displayed with credit card and overdraft accounts. It denotes the highest credit utilized in a single month over the life of that credit card.  For example, 2 years ago I spent Rs. 75,000 on some emergency medical treatment on my credit card (which has a credit limit of Rs. 1,00,000).  Given, that was the single highest monthly balance in the history of my credit card usage, this is what gets reflected in my credit report. 

‘Sanctioned Amount’ is displayed along with credit facilities other than credit card and overdraft accounts. The Sanctioned Amount field denotes the amount disbursed to you.

What goes in to your loan approval?

Getting your loan approved can be complicated process. Just go through the Loan evaluation process to understand the critical role, the CIBIL TransUnion score plays in getting your loan sanctioned.

Buy your Credit Score (Including CIR) now for just Rs.470/- and get one step closer to fulfilling your dreams.

If you wish to purchase only your CIBIL CIR for Rs.154/-. Please click on 'DOWNLOAD FORM' and follow the instructions. Click here to go through the documents required to be sent along with the form.

What is the difference between an "Account" and an "Enquiry" on my CIBIL credit report?

The ‘Accounts’ section of your credit report contains existing and past credit facilities that you have availed from various loan providers. For example, if you have a home loan and a personal loan, your credit report will reflect both accounts on your credit report along with details such as the name of the lender, type of credit facility, dates of opening and closing (if applicable) of each account, current balances, status of the accounts and your payment history. Your credit report summarizes your credit behavior across these accounts for the last 36 months.

The ‘Enquiry’ section of your credit report will be populated when a lender accesses your credit report from CIBIL in order to evaluate your loan application.  If you have applied for a home loan of Rs. 10,00,000 then the ‘Enquiry’ section of the credit report will be populated to show the name of the lender you applied to, along with the enquiry date (date on which the lender has accessed your credit report, enquiry purpose (in this case it was a home loan) and the enquiry amount (which would be for Rs. 10,00,000 in this case). All enquiries made by lenders in the past are displayed here.

There is a critical distinction between an Account and an Enquiry in that the former denotes actual loan obligations that you currently are bearing while the latter denotes that you had applied for a loan or other credit facility from various lenders.  Given that open accounts have an impact on your ability to repay additional debt obligations, having many open accounts may result in your loan application being viewed negatively by a lender.  This need not necessarily be the case if you have many enquiries on your credit report.

What is the CIBIL TransUnion Score?

The CIBIL TransUnion Score is a 3 digit numeric summary of your credit history which indicates your financial & credit health. The Score is derived from your credit history as detailed in the Credit Information Report [CIR] and ranges from 300 to 900 points. Your credit score tells the lender how likely you are to pay back loan or credit card dues based on your past repayment behavior. The higher your score, the more the chance of your loan application getting approved!

Did you know, 90% of new loans sanctioned are to individuals with a credit score of 700 and higher!

Your CIBIL CIR is provided to you along with your score, because it is the basis on which your credit score is generated. It's a record of your credit history. i.e past loans or credit cards availed from various loan providers.

CIBIL role in the Loan Approval Process

CIBIL’s products, especially the CIBIL TransUnion Score and the CIR are very important in the loan approval process.
The credit score helps loan providers quickly determine, who they would like to evaluate further to provide credit. The CIBIL TransUnion Score ranges from 300 to 900. Our data indicates that loan providers prefer a credit scores which are greater than 700.

Once the loan provider has decided which set of loan applicants to evaluate, it analyzes the CIR in order to determine the applicants eligibility. Eligibility basically means the applicants ability to take additional debt and repay additional outflows given their current commitments.

Post completion of these first 2 steps the loan provider will request for the applicants income proof and other relevant documents in order to finally sanction the loan.