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ECN number in CIBIL report: Purpose, Importance & How to get it?

What is Purpose of ECM in Cibil | KenStone Capital

In India, your CIBIL score is an important consideration if you are applying for a loan, an insurance policy, or a credit facility. You can use the report to establish your creditworthiness and your credit behavior to prospective lenders.

What is an ECN Number & How to Get it?

The lender needs to access an applicant’s credit report before deciding whether to proceed with a personal loan application when an applicant submits an online application. All registered lenders follow this protocol to assess the risk of default and repayment capacity, especially for unsecured personal loans.

Lenders requests access to the applicant’s credit report from CIBIL. The ECN number is used by CIBIL to release the report. An ECN is a nine-digit number assigned to every applicant’s credit report that helps lenders keep track of their credit histories from millions of CIBIL reports.

The control number in CIBIL reports is just another reference to the ECN number. The control number is used by the lender to locate/fetch the applicant’s details about the credit history. .

Why is the ECN Number Important?

The ECN number can be used to track a particular credit report as well as to check the unique account and its financial information, as well as the credit history of the applicant. The Control number can be used by any financial institution that is a member of CIBIL to acquire a prospective borrower’s credit report.

It is confidential to disclose the ECN number. However, the applicant will be able to obtain it from the lender under the Credit Information Companies Regulation Act, 2005. Additionally, the borrower may be able to access their individual credit reports listed at the top right of the page. In addition, the applicant may call the CIBIL Helpline number and request your ECN number or access the CIBIL website to retrieve a credit report.

The purpose of having an ECN number

Given below are the reasons why it is important to have an ECN number:

  • CIBIL maintains millions of CIBIL reports in an organized manner with ECN numbers.
  • ECN number help your lender get information on your credit history as well as report.
  • In addition to maintaining your credit history and score in a secure manner, the control number also protects your credit score.
  • Checking Your Credit Score
  • Prospective applicants can check their CIBIL score, by visiting and logging into the CIBIL website. A credit score can also be obtained on the Fullerton India website in a matter of minutes before making a formal personal loan application. 

Follow these steps to get started.

  • Go to the CIBIL Score checker
  • Choose between the ‘Salaried’ and ‘Self Employed’ option
  • Click on ‘Continue’
  • Fill in your personal, company, and income-related information in the form
  • Verify your mobile number with an OTP
  • Your free credit report will be generated instantly

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 Comapny.

CIBIL reports provide you with the ECN number in the top right-hand corner of the page, which you can see by requesting your report. To request a credit report from CIBIL, you can call their customer service department or visit their website. If you wish to view your credit report, you will have to pay a nominal fee of Rs.550.

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

Q1. How many digits does enquiry control number have?

Ans. Nine digits together makes one enquiry control number

Q2. How to obtain CIBILâ„¢ control number?

Ans. You can get your CIBIL â„¢ control number, either through the CIBIL website or by contacting their helpline department.  You can also request the control number from the lender.

Q3. Can ECN number be same for different borrower’s?

Ans: No, each borrower’s credit report has a unique code assigned. This unique code helps lender get accurate and up-to-date information about your credit history.

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