CreditMantri ties up with Equifax to provide free credit scores and loan history to individuals

MUMBAI: CreditMantri has partnered with credit information bureau Equifax to provide free credit scores and loan history to individual customers.

A credit report is a record of the borrower's credit history from various sources, including banks, credit card companies, collection agencies, and governments. Lenders use this information to evaluate creditworthiness of individuals.

As of today, an individual has to pay Rs 300-500 to get their credit report from credit bureaus like CIBIL and Equifax.

“The premise that we are working on is that people don’t know much about their credit history, credit score and loan eligibility. The underlying intention is to make that available to the customer in real-time and to simplify the interpretation of the report so that the customer fully understands it,” says Ranjit Punja, CEO of CreditMantri.

The Chennai-based company works with over 15 lenders and helps individuals get the right loan according to their need and credit profile.

"CreditMantri hopes to ultimately enable wider credit dispensation,” Punja said.