Equifax Credit Score in India — What Borrowers Should Know

Equifax Credit Information Services is one of the four RBI-licensed credit bureaus operating in India, headquartered in Mumbai. Some banks and NBFCs specifically pull Equifax reports for certain loan categories, particularly business loans and microfinance credit evaluations.

How Equifax Scoring Works in India

Like other major credit information companies (CICs), Equifax uses a score range from 300 to 900. Lenders view an Equifax score of 700+ as excellent. Equifax reports contain detailed credit histories, record of repayment patterns, demographic data, and details of past credit inquiries. Private banking partners and NBFCs often reference Equifax to assess a borrower's overall credit utilization ratio.

Checking Equifax Before Big Loan Applications

Your Equifax score can vary from your CIBIL score. If you're planning a big loan application (like home loans or mortgage loans), checking your Equifax report in advance can help you catch disputes, wrong credit cards active entries, or duplicate records before a lender reviews your profile.

RBI Redressal Rules for Equifax Records

Under the RBI credit reporting rules, you can raise an online dispute directly on the Equifax India portal if there are typos, wrong names, or out-of-date loan account details in your report. The bureau must address, investigate, and correct the error within 30 days of the request.