Cibil marketplace: Why you need to visit it before taking a loan?

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 Cibil marketplace: Visit it before taking a loan
If you have a bad credit rating from CIBIL chances are your loan would get rejected or you would have to pay a higher interest rate.

But, the Cibil Market Place allows you to choose from lenders who know your rating. Therefore, the chances of rejection are minimal, though the interest rates may be higher. The Cibil Marketplace is highly desirable as it prevents the chances of approaching multiple lenders and getting rejected.

Cibil Market Place in short a is an online platform that enables you to choose from multiple offers across products and from across participating lenders all in a single view. What is unique about the CIBIL Market Place is that the offers are customized based on your CIBIL TransUnion Score, income and other parameters. These offers are best fit as per your eligibility from across the participating lenders.

Also read how to improve your CIBIL score?

How to access the Cibil Marketplace?

Upon purchase of your CIBIL TransUnion Score, you gain access to Market Place for two months at no additional cost. In the event of your Credit Score being more than two months old, simply order your CIBIL Report again to regain access to Market Place.

What are the details required to access the Cibil Marketplace?

It is the numeric value/NA/NH/No Hit (the CIBIL report should not be older than 2 months)
Control No- It is a 9 digit number that is mentioned at the top right of the CIBIL report.

While purchasing your CIBIL TransUnion Score (and CIR), please make sure you fill up your income details accurately. As this will ensure the offers that are displayed in your Market Place are the ones you are eligible for. Any incorrect income detail will mean incorrect offer eligibility and can be rejected by the lender at the time of verification.

Read more about: cibil
Story first published: Wednesday, May 29, 2013, 8:38 [IST]
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