Your CIBIL report is important for you when applying for credit products. Thus, it is significant to know the various terms related to it.
The full form of STD in a CIBIL report is ‘Standard’. The presence of ‘STD’ in your CIBIL report can affect your financial standing. To know in detail what CIBIL STD means, read ahead
The first information that you see on your CIBIL report is your credit score which gives a glimpse into your credit behavior.
But, your CIBIL report is much more than your three-digit credit score. The credit report has two more important parts that contribute to your financial health and credit behavior. They are your inquiry and account information.
Let’s take a look at them before we try to understand what is STD in CIBIL.
Every time you apply for a loan product, the lender checks your CIBIL. This kind of credit check by a credit company carried out under your authorization, is referred to as a hard check. This is recorded as part of your inquiry information in your credit report.
All inquiries made by you will be listed and visible for about 7 years. Too many inquiries show you as credit-hungry and lower your chances of getting a loan easily.
The second important information is that of your account itself - how much loan you have taken, the type of loan, who is the lender, the date of account opening, etc. It also includes information about the monthly payments made by you against your EMIs in the last 3 years.
All of this information plays a crucial role in determining your credit history. There are three kinds of information -
This has details like your type of loan (personal, vehicle, home, or credit cards), date of opening the loan account, and when the last information was reported to CIBIL.
It also includes details related to the loan being taken in joint, alone, or with a guarantor.
This includes the current status of your loan account, if it is active, or closed. It also has information if the account was written off or settled.
A settled account is where you pay a mutually agreed-upon amount to close the loan. A loan is considered written off when you have faltered but not settled the account. Both of these are viewed negatively by future lenders, as you didn’t pay the total amount owed.
This is the information regarding the number of days you delayed an EMI payment. This can be mentioned in the form of ‘STD’, ‘000’, ‘SMA’, ‘DBT’, ‘LSS’, etc.
You can see STD mentioned under the Days Past Due section of your account information on the CIBIL report. Both STD and 000 are considered the normal payment behavior. It means that you made the payment within the standard time, i.e. without any delay.
STD stands for standard and depicts that the payment was made either made within 90 days or that there was no notable delay. This doesn’t affect your CIBIL negatively.
There are many other categories under the Days Past Due section apart from STD. They are mentioned here along with their meanings -
SMA: It stands for Special Mention Account which are special accounts created for reporting Standard Accounts moving toward the Sub-Standard.
SUB: It stands for Sub-Standard, which are accounts where payments were made after a duration of 90 days.
DBT: The full form of DBT is Doubtful. It refers to an account that has remained Sub-Standard for 12 months.
LSS: It stands for Loss and refers to an account where a loss has been identified and funds remain uncollectible.
XXX: This status means that the bank or lender has not sent information regarding payment date to CIBIL.
Any errors in your CIBIL report may negatively affect your credit score and creditworthiness. Thus it is important to report any errors and get them resolved. Here is how you can resolve any STD-related errors on your CIBIL report -
STEP 1: Log in to the CIBIL website using your credentials. Fill out the dispute resolution form accurately.
STEP 2: Once you have submitted the form, you will receive a complaint ID on your registered email ID.
STEP 3: CIBIL will get in touch with the concerned lender and update the information accordingly. The correction will take approximately 30 days.
Your CIBIL report is an extremely important document if you are trying to take a loan. Your lender will take a close look at both your CIBIL score and report before approving your loan and deciding your interest rates.
A good CIBIL is not just a score that is higher than 700, but also refers to the overall report. The type of loans you have taken, and the way in which you make your payments, all closely affect your creditworthiness.
STD in CIBIL stands for Standard and refers to the fact that you made payments within 90 days. This is the ideal category, but it can also be mentioned as ‘000’ in your credit report. Both mean the same thing.
Each and every part of your report plays a role in your creditworthiness. It shows to the lender that you are a responsible borrower, and you are more likely to get quick loan approvals at affordable interest rates.
SUB STD in your CIBIL report stands for Sub-Standard, which refers to accounts where payments were made after a duration of 90 days. It is considered a negative remark on your CIBIL.
STD is short for standard in your CIBIL report. It means that the payments for that account were made on time.
STD is considered good in your CIBIL report. Anything other than STD and 000 is considered as negative.
STD status shows that you made your payments on time, or within the standard time frame. It affects your CIBIL positively, as it shows you manage your finances well, and take repayment seriously.
If you miss your due date, you might have to incur late fees. But a delay of 2-3 days won’t show up in your credit report. In fact any delays lower than 30 days won’t show up, if you clear them along with the late fees.
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