Shocking Truth about STD in CIBIL - Are You at Risk?

In India, an individual’s creditworthiness is determined by his/her credit score. While there are four different entities (also referred to as credit bureaus) that can calculate credit scores, CIBIL is the most popular one. Credit Information Bureau India Limited, or CIBIL, is a credit agency authorised by the Reserve Bank of India that provides a comprehensive overview of an individual's credit history.

Table of Content

• What Is STD In Cibil?
• Meaning of STD in CIBIL
• How to Achieve STD in CIBIL
• How to Report STD Errors in CIBIL Report

In a CIBIL report, several different terms are used, and each one of them indicates certain things. For an individual, it is essential to understand all these terms, as it helps in effective financial planning. STD is one such term that is commonly used in CIBIL reports.

Here’s a detailed explanation of STD in CIBIL, what it indicates and the impact it has on one’s creditworthiness:

What Is STD In CIBIL?

The STD status is usually displayed in the account details section of a CIBIL report. In this section, you can see various other details such as account name and number, outstanding balance, and payment history. The full form of STD in CIBIL is ‘Standard’, and it gives it ideas about the person’s repayment habits. This status is given only when you consistently make all the payments on time, without any delays. Usually, a payment is considered on time if it is done within 90 days of the due date. On the other hand, statuses like SUB STD can

Meaning of STD in CIBIL

When it comes to sanctioning a loan or any other kind of debt, lenders usually analyse your CIBIL report, as it gives them an idea about your creditworthiness. If you’re also wondering whether having an STD in your CIBIL report is good or bad, here is the answer.

STD is a positive indicator that reflects a good repayment history and translates into a good credit score. If you have the STD status in your CIBIL report, it means that you can easily secure a loan at lower interest rates and with favourable borrowing terms. On the other hand, having status SUB STD in CIBIL reports can have a negative impact on your creditworthiness. SUB STD stands for sub-standard and indicates delayed payments.

How to Achieve STD in CIBIL

Here are a few things you can do to ensure a positive status like STD on the CIBIL report:

• Timely Payments: Whether you have any ongoing loans or any active credit cards, make sure to pay all payments before the due date. Any delays in your payments can not only result in penalty charges but also have a negative impact on the credit report. Even a small delay can impact your CIBIL score.
• Manage Your Credit Effectively: While borrowing money or spending with credit cards, always keep your repayment capacity in mind. Always avoid exhausting your credit limit, as it ensures that you don’t struggle with repayments.
• Monitor Your Accounts: It is always recommended to check your CIBIL report and credit card statements on a regular basis. It helps you ensure that all the transactions are reflected correctly on the report.

Suggested Read: Quick Tips for Boosting Your CIBIL Score

How to Report STD Errors in CIBIL Report

Although CIBIL reports are generated very carefully, there can be a few discrepancies present at times. If you see any kind of STD-related error in your CIBIL report, you can raise a request and get it corrected.

Here are the steps you need to follow for reporting STD errors:

• Visit the official website of CIBIL (Credit Information Bureau (India) Limited) and log in to your CIBIL member account using your credentials.
• Once logged in, navigate to the ‘Credit Report’ section, click on ‘Dispute Centre’ and then select the ‘Dispute an Item’ option.
• Now you’ll be redirected to the CIBIL dispute
• Here, you’ll have to choose ‘Account Details’ as the section you want to get rectified. Fill in other required details before submitting the form.
• Once you have submitted the online dispute resolution form, a complaint ID or a dispute ID will be generated for the complaint.

Usually, it takes 20-30 days for such errors to get rectified, but this duration can vary sometimes, depending on various factors.

STD in a CIBIL report is one of those things that have a positive impact on your creditworthiness. You can easily achieve this by making timely payments in a consistent manner and avoiding any delays. However, it is also important to monitor your CIBIL report regularly, and if you notice any errors, raise a dispute request immediately. At Muthoot Finance, we give an option to check the CIBIL score online for free.