How frequently CIBIL score is updated?

 

To know the CIBIL update time, a person should have to know what is CIBIL. 

CIBIL (Credit Information Bureau India Limited) is an agency of India, one of the credit bureaus, that collects and maintains the data records of borrowers (both individuals and companies)

CIBIL score ranges from 300 up to 900 for individual reports and 0 to 9 for commercial entities credit report.

Every financial institution (Banks & NBFCs) reports the credit payment history along with all kinds of credit records for every borrower as a record, to maintain the database so that their credit eligibility can be checked whenever needed. 

The database of CIBIL update frequently so that their payment history along with other records can be maintained accordingly.

Now, talking about the CIBIL update time, CIBIL score typically update every 30 to 45 days (depending upon the financial institution’s updation frequency).

This is because most financial institutions (banks and NBFC), report the credit activity of their customers to CIBIL portal in a frequency of one month. 

Therefore, any changes in your credit report, such as new loans, payments, or credit utilization, will be reflected in your CIBIL score during this cycle.

However, the exact timing of when your CIBIL score updates may vary slightly depending on when the lending entities report their data to CIBIL and when CIBIL processes it to display.