How many Credit Agencies Exist in India?

There are mainly 4 different credit rating agencies in India that are associated with the majority of traditional banks and fintech institutes. These lenders make their decisions for loan approvals on the basis of the credit reports provided by these credit bureaus.

Image Source

The four most popular credit rating bureaus in the country are as follows:

1. CIBIL

The Credit Information Bureau of India Ltd, commonly known as CIBIL, is the oldest and biggest credit bureau in India. It’s also the most preferred choice of the traditional and modern lenders alike.

CIBIL provides credit scores on a scale of 300 to 900 and offers credit reports at a small fee of Rs. 550 per person.

2. Equifax

Equifax is another popular credit bureau in the country that obtained its license in 2010. Just like CIBIL, it also provides credit scores within the range 300-900.  It offers two kinds of paid reports- basic and detailed at Rs. 138 and Rs. 400 respectively.

3. Experian

Experian is a major player not only in India but also in the entire world. Apart from offering credit reports it also offers data and analytics solutions for corporates.

Experian follows a credit score range of 300-999. It offers credit reports at Rs. 138, but a person can get both report and credit score at Rs. 399.

4. High Mark

High Mark began its operations in the country in 2010, although it had received its license in 2007 itself. Credit scores offered by High Mark vary from 300 to 900. A user can obtain their credit report from the agency for Rs. 399.