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Is There Any Cibil Defaulter List? Find Out Now
- Published on: 25 Jan 2024
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 Score | Meaning |
|---|---|
| 800 – 900 | Excellent |
| 750 – 799 | Very good |
| 650 – 749 | Good |
| 550 – 649 | Fair |
| 300 – 549 | Poor |
| NA/NH | Not 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:
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?’
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.
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:
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:
Here are some steps you can adopt to implement the strategy:
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:
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.
Here are a few benefits you get to enjoy:
Note that your co-applicant can be any of the following members:
Here’s all you need to know about this option:
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!
All you have to keep in mind are these pointers:
As such, there’s nothing like this list. However, you can clear all your outstanding loans to delete your name from the list.
CIBIL retains an individual’s records of credit default for a period of up to 7 years.
