The ECN number in your CIBIL report is a crucial identifier that helps both credit information companies and lenders access your detailed credit history. Located in the top right corner of your report, this number serves as a unique reference for all your credit report and financial data. The CIBIL report holds vital information about your creditworthiness, including your credit score and history of payments, which is vital when you’re seeking loans or other credit facilities. By examining this number and associated data, lenders can quickly assess the risk of lending to an individual.
According to the Companies Regulation Act 2005, credit information companies are mandated to maintain and provide access to credit reports for individuals and businesses. The ECN number found in the top right corner of the CIBIL report is part of this regulatory framework, which ensures that the credit history provided to lenders is accurate and reliable. When you apply for a loan, you may also be asked to provide this number from the lender to facilitate the recovery process or track your credit report accurately.
What is an ECN Number & How to Get it?
When an applicant submits a personal loan application online, the lender needs access to your credit report to assess repayment capacity and the risk of default. All registered lenders follow this process, especially for unsecured loans.
CIBIL uses the ECN number in CIBIL (also known as the Enquiry Control Number ECN) to release the report. An ECN number is a unique nine-digit identifier assigned to every credit report, enabling lenders to efficiently track your credit history and score across millions of reports.
The ECN Number in CIBIL Reports
The control number in CIBIL is another term for the ECN number. This control number is a key reference used by lenders to fetch and evaluate an applicant’s credit details. The control number in the report allows lenders to retrieve information about repayment history and credit behavior.
Why Is the ECN Number Important?
The ECN number serves several purposes:
- The ECN helps CIBIL maintain millions of reports in an organized manner.
- Lenders use the ECN number to access detailed information about your credit history and financial accounts.
- By securely maintaining your credit history and score, the control number also safeguards your credit score.
It is confidential to disclose your ECN number, but applicants can obtain it under the Credit Information Companies Regulation Act, 2005. Borrowers can view their ECN at the top right of your credit report or request it via the CIBIL Helpline or website.
Checking Your Credit Score
Prospective borrowers can check their credit score online before making a formal loan application. Here’s how to check and get an ECN:
- Visit the CIBIL Score Checker or Fullerton India website.
- Select ‘Salaried’ or ‘Self-Employed’ based on your profile.
- Click ‘Continue.’
- Fill in your personal, company, and income details.
- Verify your mobile number with an OTP.
- Your free credit report and ECN number will be generated instantly.
The Purpose of Having an ECN Number
Here’s why having an ECN number is important:
- It helps CIBIL manage reports systematically.
- Lenders can use the control number to access a borrower’s financial details.
- The control number is a safeguard for maintaining your credit history and ensuring secure access to your credit report.
How to get an ECN number?
Control numbers are a crucial component of CIBIL’s credit report and history maintenance. Therefore, credit reports and Enquiry Control Numbers are not easily accessible to anyone.
According to the Credit Information Companies Regulation Act, 2005, you can obtain a copy of your credit report as well as your Enquiry Control Number (ECN) through the Credit Information Company.
If you have taken out a loan from a bank, you can also ask them to provide you with the ECN number.
• CIBIL also offers the following methods for obtaining a control number:
â—¦ 1800224245 is the helpline number
â—¦ To submit a written request, visit their website at www.cibil.com
• You can obtain your ECN by subscribing to a periodic credit report.
How To Check Your CIBIL Report?
Here are the steps you need to follow to do a CIBIL score check free online with your PAN Card:
1. Go to the official CIBIL website
2. The top-right corner of your landing page will have an option to ‘Get your CIBIL score’. Click on it.
3. CIBIL scores can be checked more than once with a subscription method. In addition, if you only wish to view the score annually, you can skip this step.
4. The site will ask you for your PAN number, date of birth, gender, email address, and captcha code. Click ‘Proceed to Payment’ once you have completed all the fields and acknowledged the terms and conditions.
5. There are a variety of payment methods available which you can choose according to your preferences.
6. After completing the above step, you will see your CIBIL score.
You can check your CIBIL score once a year for free on the website. Users with paid memberships can check their credit scores more frequently.
Conclusion:
By now you might have understood the importance of getting an ECN number and its use. With your ECN number, you can access important details about your credit report and check your credit history in detail.
Frequently Asked Questions
1. What is the ECN number in the CIBIL report?
The ECN number (Electronic Credit Number) is a unique identifier in your CIBIL report. It is found in the top right corner of the report and is crucial for tracking and accessing your credit history. This number allows you to access detailed information about your credit report from the credit information companies.
2. How can I obtain my ECN number from the CIBIL report?
You can obtain your ECN number by downloading your CIBIL report directly from the CIBIL website. Once you access the report, you will find the ECN number in the top right corner. This nine-digit number is essential for verifying your credit information with lenders.
3. Where can I find the ECN number in my credit report?
The ECN number can be found in the top right corner of your CIBIL report. It is a unique nine-digit number that links your credit data with the CIBIL database, allowing for easy retrieval of your credit details.
4. What is the significance of the ECN number in my CIBIL report?
The ECN number plays an important role in identifying your credit history. It is used by credit information companies to uniquely associate your CIBIL report with your financial details, ensuring accurate and up-to-date data is available when you apply for a loan.
5. Can I apply for a loan using the ECN number from my CIBIL report?
Yes, you can use the ECN number as a reference when applying for a loan. Lenders use this number to access your credit history and CIBIL score, which helps them assess your creditworthiness and approve or reject your loan application.
6. What is the CIBIL Control Number?
The CIBIL control number is another unique identifier related to your CIBIL report. It helps credit information companies and lenders track and manage your credit report. This number is typically present in the CIBIL report and helps with identifying and verifying your credit information.
7. How can I access my credit report and ECN number?
You can access your credit report and ECN number by visiting the official CIBIL website. By registering and submitting a request, you will be able to obtain your credit report, including the ECN number in the top right corner. This number is important for further credit report actions and assessments.
8. What is the Companies Regulation Act 2005 in relation to CIBIL?
The Companies Regulation Act 2005 governs the functioning of credit information companies, including CIBIL. This regulation ensures that companies follow legal procedures for maintaining and accessing credit information and provides consumers the right to access their CIBIL reports and ECN number.
