How to get Credit Information Report from Equifax India

Recently I was reading an article in the news paper that leading credit agencies of the world are setting up their shops in India and Equifax one of the three largest credit rating agencies of America is one of them.

As we all know that till now CIBIL was the only agency from which individuals can obtain their credit report along with the Trans union credit score (latest addition to basic Credit Information Report (CIR)).

After this I thought how we can obtain the score from Equifax, to know regarding same I logged on to their India website which is not so user friendly like as CIBIL website. At present Equifax India is only offering basic Credit Information Report (CIR) which also includes score (with an payment of additional fee) for individual Indian users, whereas it says there are other services in offering but they are for its members and specific users.

Let’s see the procedure of obtaining the credit score from Equifax India

Step one: Take a print out and fill in the form.

Step Two: Attach self attested copies of your address proof and ID proof (copy of PAN card is preferred).

The below are considered as valid ID proofs

  • Voter ID card
  • Valid driving license
  • Valid passport
  • PAN card (Preferred)

And the below are considered as valid address proofs

  • Electricity bill
  • Landline/Telephone/Mobile Telephone Bill
  • Credit card / savings / current account / other bank account statement
  • Gas utility bill
  • Ration card

While photocopying the above mentioned documents, keep in mind that all ID numbers, Name and address along with the photo (in case of ID proof) should be clearly visible. All the documents should be valid (should not have expired). Address in the documents should be of the requestor and last but not least in case of statements or bills should not be older than three months (latest statements and bills are required)

Step Three: Obtain a Demand Draft of Rs 138 (for Basic CIR) and Rs 400 (for CIR along with score) in the favor of "Equifax Credit Information Services Pvt. Ltd., Mumbai".

Step Four: Send the documents thru courier / Speed post / regular post to them at "Equifax Credit Information Services Private Limited, Office No 2, Ground Floor, Madhusudhan Mills, Shankar Rao Naram Path, near Peninsula Corporate Park, Opp Laxmi Industrial Estate, Lower Parel, Mumbai 400013".

Step Five: They would take seven working days from the receipt of application and would dispatch the hard copy of the report (no emails at present).

Getting report from Equifax India seemed to be a manual exercise unlike CIBIL where if an individual is able to validate online then he or she is not required to send the documents physically to them and would receive the reports via email in 4 business days.

I think soon we would see more such offerings from Equifax India so that it can add into the options for an Individual while looking for his or her credit information reports especially in India where this market still remains untapped.