Credit Report FAQs -

FAQs - Credit Report

Frequently Asked Questions

Q. What is a credit report?

A. Credit report, which is provided by CIBIL, Experian and Equifax, is a report card based on your performance on loans. Banks use this information to assess your loan applications. In fact, it is the single biggest criteria for assessing your loan application.

Q. Why do I need to answer authentication questions?

A. Authentication questions help us identify you and ensure the security of your data. It is absolutely important that we ask these questions so that your data is only seen by you. We are working non-stop behind the scenes to give you the best user experience while keeping data security in mind.

Q. I am not able to answer the authentication questions. What do I do?

A. We run smart algorithms to ensure you only get relevant questions. We've also made other forms of authentication available to you, like uploading your KYC documents.

Q. Why do I need to upload KYC documents?

A. KYC documents help us identify you. We want to make sure that we share your credit report with you and only you. We only ask for documents that banks recognise as a form of KYC e.g. Passport, Aadhar, etc.

Q. What documents can I upload?

A. You can upload a copy of these documents -
a. Passport
b. Aadhar card
c. PAN card/ Driving license/Voter card + Electricity bill/landline bill/postpaid bill/bank statement

Q. How soon will I get my report?

A. Your report will be generated instantly and will be available for viewing in your Indialends dashboard. You will also get your personalised credit analysis and recommendations right after the authentication questions, within a fraction of a second.

Q. Where can I see my report?

A. Please login to your Indialends account to view your credit report on the dashboard anytime, anywhere and from any device.

Q. How do I interpret my score and report?

A. We've simplified your credit report for you so that you have no difficulty in understanding it. For more details on credit scoring please read our blogs titled Credit scores and the science of lending: Part 1 & 2

Q. How do I report a discrepancy?

Q. How will this credit information help me?

A. It is very important for you to know your credit score and the various factors affecting it. Your credit scores are being used by all banks and financial institutions to assess your loan application - be it a personal loan, a home loan, a credit card or an education loan. This video further explains the benefits of a seeing your credit information.

Q. Can I get advice on improving my credit score?

Q. What is Experian?

A. Experian is a credit bureau that collects loan performance data from all banks and financial institutions. This data is then shared with the bank when you apply for a loan and is used by the bank to decide on the interest rate and loan amount eligibility.

Q. What is a credit score?

A. A credit score is the measure of an individual’s creditworthiness. The higher the score, the better placed one is to have access to any type of credit– a credit card, a personal loan, a car loan or even a home loan. It is usually a three digit number between 300 and 900 which is calculated based on the individual’s repayment history on credit products.