Top 4 Credit Bureaus in India – Everything You Need to Know

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What Are Credit Bureaus?

Credit bureaus are data collection agencies. They gather credit information from various providers, generate credit reports, and sell them for a fee to creditors and financial institutions to help them make a lending decision.

Although private companies, credit bureaus are largely regulated by the RBI. They play a critical role in creating your credit scores that assess your creditworthiness. The credit score is derived on the basis of your previous credit history, and it has an impact on loan approval, the size of the loan and the interest rate you can qualify for.

How Credit Bureaus Help Lenders and Consumers?

Credit bureaus help creditors and lending institutions to make accurate loan decisions. They provide lenders with reliable credit information helping them assess the loan applicant’s creditworthiness.

Credit bureaus help consumers determine their credit score and help them understand their debts and repayments through a credit report. This helps them assess their creditworthiness before applying for a loan. Consumers can fetch their credit reports regularly to identify inaccurate information or errors on the credit report in advance, which can be disputed and later resolved.

Top 4 Credit Bureaus in India

The four major credit information companies in India include: 

  1. TransUnion CIBIL
    This credit bureau is the most popular credit information company in India. It was incorporated in 2000 by the RBI. This credit bureau maintains records of over 1000 million businesses and people. With over 5000 members, including leading banks, NBFCs, housing finance companies, this credit company has one of the largest collections of consumer databases. The CIBIL score is a reliable metric used to assess creditworthiness. In 2017, TransUnion acquired a stake in it to be later launched as CIBIL TransUnion.
  2. Equifax
    Equifax is a global player headquartered in Atlanta. In 2010, it was registered as a credit information company in Mumbai as a joint venture between India’s seven leading financial institutions and Equifax Inc. It offers unique data to empower businesses to make the right decisions. Companies and businesses can get various types of reports, including credit fraud reports, risk management reports, industry diagnoses, and other reports.
  3. Experian
    Experian is a global credit bureau agency headquartered in Dublin. In India, it became functional in 2010. This credit bureau is approved by the Reserve Bank of India and recognised by SEBI.

    Experian offers a comprehensive database including trade data, banking, third-party collections, legal items, and more to help financial institutions make informed decisions.

  4. CRIF High Mark
    CRIF High Mark India, India’s leading credit information provider, has an extensive database catering to banks, insurance companies, NBFCs, and telecom service providers. CRIF High Mark was established in 2005, and it obtained its license of functionality in 2010.

Comparison of the 4 Credit Information Companies in India

CIBIL Vs Equifax Vs Experian Vs CRIF Highmark

FeaturesCIBILEquifaxExperianCRIF High Mark
Established2000License granted in 20102006, license granted in 201Received licence in 2010
Scoring SystemCredit score between 300-900, 900 being the highest.
700 and above is ideal
Credit score between 300-900, 900 being the highest.
700 and above is ideal
Credit score between 300-900, 900 being the highest.
700 and above is ideal
Credit score between 300-900, 900 being the highest.
700 and above is ideal
Cost of the Report₹550 (credit report + credit score)₹400 (plus GST) for credit report and credit score₹399 (credit report + credit score)₹399 (including GST) for credit report + credit score
Time taken to receive credit reportOnline credit report is instantOnline credit report is instantOnline credit report is instantOnline credit report is instant
Products and Services

 

For Companies:

-Portfolio Review reports

-CIBIL Company credit information report

 

 

For Companies:

-Portfolio management

-Credit risk and fraud management

 

 

For Companies:

-Collection and money recovery

 

For Companies:

-Predictive Analytics & Scorecards

-Commercial Score

-Identification and Anti-Fraud services

 

Why Credit Scores Differ?

Credit scores are like thumbprints; no two scoring models can arrive at the same credit scores.

Here are a few reasons why your credit scores from each of the four credit reporting agencies differ:

  • Credit scores can be from different dates.
  • Credit scores are calculated using different scoring models.
  • Scores are calculated using different credit information. Although all credit inquiries are noted on your credit report, they only show for the bureaus whose reports are being pulled. That said, not all lenders report to all the four major credit agencies. Some may report to only one or two. This means the credit agency may miss some credit information that can help or hurt your credit score.

Check your credit report periodically for errors, which can affect your scores. Check your credit score now.

Similarities Between the Credit Bureaus

Here are the similarities between all the four credit bureaus:

  • The RBI licenses all the bureaus.
  • Although credit scores from different credit bureaus are different, they are considered valid. 
  • Each credit bureau uses a unique algorithm to calculate the credit score.
  • Banks and NBFCs report credit information to all the credit bureaus. 
  • To calculate the credit score, all credit bureaus consider repayment history, age of credit, type of credit, credit exposure, and credit inquiries.


These top 4 credit report agencies in India help your get a detailed report of your credit history and other debts. They also help companies and businesses assess the creditworthiness of their customers to make an informed lending decision. Make sure you check your credit reports periodically to keep a tab on your credit score; if you see any errors on your report, make sure you raise a dispute with the respective credit bureau and get them rectified. 

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