Paytm App is India’s most popular payment and recharges app. Using Paytm, you can make payments, receive or send money directly in a bank account. In this post, I am going to tell you how to check Credit Score on Paytm App for Free in just 1 minute.
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Check Credit Score on Paytm App for Free
Paytm, India’s digital payment company offers the facility to check credit score on the mobile app for free. You can also view your detailed credit report including all loan and credit card account details.
On Paytm, you can also compare it with other Paytm users on a city, state, and national level. This entire process is very easy and simple. It can be completed in a few steps and in under a minute.
Further, you can view your detailed credit report from CIBIL by clicking on the “Your CBIL Credit Report” tab.
What is a Credit Score?
It is a 3 digit number (between 300 and 900) calculated by a Credit Bureau based on your credit history.
Following four Credit Information Companies are authorized by RBI in India:
1. Experian
3. Equifax
What is CIBIL?
CIBIL (Credit Information Bureau India Limited) is one of the four RBI authorized Credit Information Companies in India.
What is a Credit Report?
It is a summary of all your loan and credit card history. This information is reported to a credit bureau by your banks and NBFCs (Non-Banking Financial Companies).
It generally consists of the following information.
1. Personal Information
2. Loan and Credit Card Account Details
3. Enquiry Information
What is a Good CIBIL Score?
A CIBIL Score is a three-digit number ranges between 300 and 900. A score between 700 and 900 is generally considered a good CIBIL score.
If your credit history is better then, your score will be higher. A higher CIBIL score indicates that you have been a responsible borrower. It ensures faster processing of your loan and credit card application.
How to Check Credit Score on Paytm App for Free in just 1 minute
1. Open and login to your Paytm App.
2. Tap on the “More” icon on the home screen.
3. Tap on the “Free Credit Score” option in the featured section.
4. Here, you need to confirm your name and contact details as registered with your bank or credit card. Next, enter your PAN number and date of birth (if required).
5. Check on the box to authorize Paytm to fetch your credit details and agree to terms and conditions.
6. You will receive an OTP for verification of your profile if you are a new user. Enter OTP (One Time Password).
7. Next, click on the “Submit opt and view score” tab.
8. Here, you can also view your detailed report by clicking on the “View Detailed Report” option. It will show you a comparison of it with other Paytm users on a city, state, and national level.
9. You can also view a detailed report by clicking on the “All Loan & Credit Card Accounts” option tab.
10. To see your detailed credit report from CIBIL, tap on the “Your CBIL Credit Report” tab. You will be redirected to the CIBIL website where you can view it.
Final Thoughts
Paytm offers the facility to check credit score on Paytm App for Free in just 1 minute. You can instantly view your detailed credit report including all loan and credit card accounts. Further, you can also view the comparison of it with other Paytm users on a city, state, and national level. This entire process is very easy and simple.
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