CIBIL & Credit Bureau Disclosure Notice

This disclosure is provided to you by your DSA Partner in accordance with the Credit Information Companies (Regulation) Act, 2005, Reserve Bank of India guidelines, and the Digital Personal Data Protection Act, 2023. Please read this notice carefully before your loan application is submitted.

1. What Is a Credit Bureau Enquiry?

When a lending institution (bank or NBFC) processes your loan application, it will access your credit report from one or more credit information companies (credit bureaus) to assess your creditworthiness. The bureaus we work with include:

• TransUnion CIBIL (most commonly used)
• Experian India
• Equifax India
• CRIF High Mark

This access is called a credit bureau enquiry or credit pull.

2. Hard Enquiry vs. Soft Enquiry

Hard enquiry: When your loan application is formally submitted to a lender, the lender makes a hard enquiry on your credit report. This is recorded on your credit file and may temporarily lower your credit score by a few points (typically 5–10 points). Multiple hard enquiries in a short period (e.g., applying to 3 lenders simultaneously) can have a more significant negative effect.

Soft enquiry: A soft enquiry is a background check that does not affect your credit score. LendMitra does not perform soft enquiries. The credit pull is initiated only by the lending institution after your application is submitted.

3. Your Consent Is Required by Law

Under the Credit Information Companies (Regulation) Act, 2005 and RBI guidelines, no credit bureau enquiry may be initiated without your explicit, informed, and voluntary consent. By proceeding with your loan application through LendMitra, you are providing consent for:

• The lending institution(s) to access your credit report from the relevant credit bureau(s)
• Your credit information to be shared with the lender for the sole purpose of evaluating your loan application
• A record of this enquiry to be noted on your credit file

You have the right to refuse consent. If you refuse, your loan application cannot be submitted to the lender.

4. Who Will See Your Credit Information?

Your credit report will be accessed only by:

• The specific lending institution(s) to which your application is submitted
• The credit bureau(s) for the purpose of generating the report

LendMitra does not access your credit report. Your DSA partner does not access your credit report. The information is accessed solely by the lender as part of their internal credit assessment.

5. How to Check Your Own CIBIL Score

You can check your own credit score for free without it affecting your score at:

• CIBIL: www.cibil.com (1 free report per year under RBI mandate)
• Experian: www.experian.in
• Equifax: www.equifax.co.in
• CRIF: www.crifhighmark.com

Checking your own credit score is a soft enquiry and does not affect your score in any way.

6. What Factors Affect Your CIBIL Score?

• Payment history (35%): Timely repayment of existing loans and credit cards is the biggest factor
• Credit utilisation (30%): Keep credit card usage below 30% of your credit limit
• Length of credit history (15%): Older accounts with good standing improve your score
• Credit mix (10%): A balanced mix of secured (home/auto) and unsecured (personal/loans against property) loans is positive
• New credit enquiries (10%): Multiple hard enquiries in a short period reduce your score temporarily

7. Improving a Low CIBIL Score Before Applying

If your CIBIL score is below 650 (minimum threshold for most lenders), consider:

• Clearing any overdue EMI payments or loans against property dues immediately
• Avoiding new loan applications for 3–6 months to allow existing enquiries to age
• Reducing loans against property utilisation below 30%
• Checking for errors in your credit report and raising a dispute with the bureau if found

A score of 700+ significantly improves approval chances and results in better interest rates.

8. Grievance Redressal

If you believe a credit bureau enquiry was made without your consent or you have a dispute about your credit report, you may:

• File a complaint with the relevant credit bureau through their dispute resolution portal
• Contact the Reserve Bank of India's Ombudsman Scheme for Digital Transactions
• Write to our Grievance Officer at privacy@LendMitra.in
• Approach the Data Protection Board of India under the DPDP Act, 2023

9. Your Acknowledgement

By proceeding with your loan application through a LendMitra DSA partner, you confirm that:

• You have read and understood this CIBIL & Credit Bureau Disclosure Notice
• You consent to a credit bureau hard enquiry being made by the lending institution upon submission of your application
• You understand that this enquiry may temporarily affect your credit score
• You are providing this consent voluntarily and have not been coerced

If you have any questions about this disclosure, please ask your DSA partner or contact LendMitra support on WhatsApp before proceeding.

Contact

Karuppali Fin Mithra (OPC) Private Limited
Kozhikode, Kerala — 673 001
Email: privacy@LendMitra.in
WhatsApp Support: Available on site