We all very well know how important a role, a credit report plays during our loan application process.
Reading through the report is quite a daunting task as the terms mentioned there are not something we come across every day.
So, here's a detailed look at the various key terms you will come across in your cibil report.
1.
Asset Classification The status of your loan repayment is usually categorized to gain an easy understanding of your credit history from the bank's point of view.

• Standard (STD) - Payments are made within 90 days
• Non-Performing Asset (NPA) - Payments are overdue beyond 90 days
• Sub Standard Account (SUB) - An account which has remained an NPA for more than a year
• Special Mention Account (SMA) - A special account is created for reporting a standard account deteriorating to a sub-standard
• Doubtful (DBT) - An account which has remained SUB for more than 1 year
• Loss (LSS) - An account which has proven to be uncollectible and is declared as a loss

2.
Actual Payment Amount This is the actual value of the amount you have paid to your lender.
This may be less or more than the stipulated value of your equated monthly installment.
3.
Amount Overdue This is the value of the amount that needs to paid back to the lender within the stipulated tenure.
(Includes principal and interest) 4.
Cash Limit This is the maximum amount you can withdraw against your credit card.
5.
Control Number This is a unique number given in your credit report.
6.
Collateral A security given to your lender by you, should you fail to repay your loan your collateral will be taken over by the lender.
Collateral may be in the form of gold, stocks or shares.
7.
Credit Limit It refers to the total credit you have access to with respect to your credit card and overdraft.
8.
Current Balance It is the value of the amount you are yet to repay to the lending institution.
9.
Days Past Due It is the number of days past the due date for repaying.
It indicates the delay payments paid each month.
10.
Emi amount The value of your equated monthly installment you pay on your loan.
11.
Enquiry This section contains the details of the loan you have applied for.
These are provided by the lending institution to cibil.
12.
Ownership This field indicates the person/persons responsible for repaying your dues.
There are four types, namely: · Single - you are solely in charge of paying all your dues · Joint - you and someone else together have taken the responsibility of repaying your dues · Authorized user - when you hold an add-on credit cards, where it is understood that you are not responsible for paying your bills.
· Guarantor - when there is another person who has taken up the sole responsibility of repaying the loan, should the principal applicant fail to do so.
13.
High credit This indicates the highest value of your credit card bills.
14.
Repayment Tenure This is the duration of your loan repayment period.
15.
Sanctioned amount It is the total loan amount disbursed to you.
16.
Settlement Amount When the amount to be paid to the lender is disputed by the borrower, they come to a settled value which is not the same as the actual amount due.
The difference between the settlement and the actual amount is written off by the lender.
17.
Suit filed/ willful default If there was a suit filed against you by any of your previous lenders on account of refusing to fulfill your repayment (wilful default).
18.
Written Off amount This indicates the total value of amount not paid by the borrower, after paying the settlement amount.
19.
Written off and settled status Displays details of previous settlement as well as written off values by the lenders.
Now, reading your cibil report is not going to be a tedious task again!