Is There Any Cibil Defaulter List? Find Out Now

  • Published on: 25 Jan 2024
Is There Any Cibil Defaulter List? Find Out Now

The CIBIL defaulter list is a misinterpreted term, as CIBIL or any other credit bureau does not maintain such a list for defaulters. Nevertheless, maintaining a healthy credit score is crucial when opting for credit. Here’s a quick tabulated overview of what is the ideal credit score range:

Credit ScoreMeaning
800 – 900Excellent
750 – 799Very good
650 – 749Good
550 – 649Fair
300 – 549Poor
NA/NHNot Applicable / No History

Based on a borrower’s credit behaviour, as reported by financial institutions, credit bureaus compute credit scores. A few parameters used for calculating the score include:

  • Credit mix
  • Length of credit
  • Recent credit inquiries
  • Payment history
  • Credit utilisation

Remember, credit agencies maintain a record of all your late or missing EMI payments, which will reflect on your score. Continue reading and get an answer to one the most commonly asked questions: ‘How to check my name in the CIBIL defaulter list?’

What is a CIBIL Defaulter List?

This name is a misreading, as no such list exists. However, if you search the CIBIL defaulter list on the Internet, you may come across the Reserve Bank of India’s (RBI) ‘wilful defaulters’ list. The individuals on this list have defaulted after borrowing more than ₹25 lacs from lenders. 

As this list is available for public viewing on the CIBIL website, banks and NBFCs can exercise due diligence before providing loans to such individuals. Moreover, lenders can file a court case against borrowers who default above ₹25 lacs, which makes future borrowing difficult. 

How to Check the CIBIL Defaulter List 

Your name is only on the list if there’s a lawsuit against you in court for defaulting on a loan. Nevertheless, having a bad credit history indicates you may have delayed your loans previously. Lenders check this information when deciding your loan terms. 

Remember these essential points:

  • A high score increases your chances of approval
  • A low CIBIL score may delay or even reject your loan approval
  • Even if you manage to get approval, you’ll be charged high interest rates
  • So, you must improve your score before applying

How to Remove a Name from the CIBIL Defaulter List

Once you pay your outstanding dues, your name will be cleared from the list, but the credit bureau will keep this in your record for 7 years. Other ways to remove your name from the CIBIL defaulter list include:

  • Paying your entire dues
  • Opting for a one-time settlement option

Here are some steps you can adopt to implement the strategy:

  • Examine your credit report periodically to check where you can make improvements
  • Check your credit report for any errors or inaccuracies in personal details and get them resolved
  • Clear all your outstanding dues by discussing with your lenders and finding a favourable solution 
  • Pay your bills and EMIs on time and avoid delayed repayments for future credits 
  • Reduce your credit utilisation ratio by bringing it under 30%
  • Avoid applying for multiple loans within a short timeline

Loan Process for a CIBIL Defaulter

Once your name is on the CIBIL defaulter list, you may face difficulty in getting a loan. However, you can follow these strategies to get hassle-free credit approvals: 

  • Submit Your Salary Slip

If you have good income proof, then lenders will have no hesitation in offering you a sizeable amount. So, you can leverage proof of increments to get a favourable loan deal. 

  • Apply with a Co-applicant

Here are a few benefits you get to enjoy:

  1. Increased loan eligibility
  2. Strengthened credit profile
  3. Better loan terms

Note that your co-applicant can be any of the following members:

  1. Your spouse
  2. Your parents
  3. Your siblings
  • Opt for Peer-to-Peer Lending

Here’s all you need to know about this option:

  1. This is a form of direct lending wherein you can get credit without involving any financial institution
  2. The facility is executed through online platforms 
  3. Make sure to exercise the required precautions before opting for such forms of credit 

Despite trying these tips and tricks, if you’re unable to crack favourable loan deals, there’s no need to stress. You can always count on Fibe. We have an alternative scoring mechanism to check the eligibility of a loan applicant. 

Apply for a Fibe Instant Personal Loan to tackle all your financial needs. At Fibe, you can get a loan amount of up to ₹5 lakhs at attractive interest rates starting from 2% per month. Minimum documentation, flexible tenure and no pre-closure charges are a few other perks you get to enjoy when you opt for these loans. Download our Personal Loan App or visit our website to apply now!

FAQs on CIBIL Defaulter List

How do I know if I am a loan defaulter?

All you have to keep in mind are these pointers:

  • Check your free CIBIL report on the TransUnion CIBIL website
  • Contact your lender to check if you have been listed as a loan defaulter

How can I delete my name from the old CIBIL defaulter list?

As such, there’s nothing like this list. However, you can clear all your outstanding loans to delete your name from the list. 

How many years does CIBIL keep records?

CIBIL retains an individual’s records of credit default for a period of up to 7 years.


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