ECN Number in CIBIL Report: How to Get It?

One of the things that lenders check about a borrower before assigning them a loan is their credit score or CIBIL score. The CIBIL score is a three-digit number that indicates a borrower’s creditworthiness and repayment capacity. An individual’s credit score ranges between 300 and 900; the closer a person’s CIBIL score is to 900, the better their chances of loan approval and availing of a loan on better terms and conditions. Credit information bureaus in India assign credit scores to individuals based on their credit reports. Most people know about the concept of the CIBIL score and a little about the various contents of a CIBIL report but most people have no idea about what ECN Number in CIBIL is, even though the ECN number is very important. So, read on to know more.  

What is an ECN Number?

Before we continue, let us define ECN. ECN stands for Enquiry Control Number. The ECN number is a nine-digit number that helps lenders and credit information bureaus identify a borrower’s credit profile. In other words, it is with the help of the ECN number that all financial institutions that are a part of the CIBIL network can access a borrower’s credit profile and assess it to understand their attitude towards credit.  

How to Get an ECN Number in CIBIL?

Here are three different ways a borrower can get their Control Number in CIBIL.  

• Firstly, if you want your ECN number, you can request CIBIL to share with you your ECN number. However, keep in mind that to be able to do so, you will have to buy a subscription plan under which CIBIL will send you your credit report. You will find your control number in the right-hand corner of your CIBIL report.  
• Secondly, a borrower can also access their ECN number by calling CIBIL’s customer care number and requesting their credit report. If you opt for this method, you will be required to pay a fee.  
• Lastly, if you want to access your ECN number without paying any fee, you can seek your lender’s help. They will be able to share your ECN number with you.  

Can Two Borrowers Have the Same ECN Number?

The answer is no. When a lender enquires about a borrower, an Enquiry Control Number is generated. Every enquiry generates a different ECN number and therefore, two borrowers cannot have the same ECN number. This number used to be confidential until a few years ago. However, now after the passing of the Credit Information Companies Regulation Act, of 2005, borrowers can ask lenders for their ECN number. They must also use this number for all official communications with CIBIL and lenders and financial institutions they are interacting with. The next question is: why is the ECN number in CIBIL, important? Read on to know the answer.

Why is the ECN Number Important?

• These days, lenders sanction loans and grant credit only when they are convinced of a borrower’s repayment capacity and creditworthiness and to check a borrower’s repayment capacity, the first thing that lenders check is their credit report and CIBIL score. Lenders sanction loans to only those borrowers who have a clean repayment history and a CIBIL score of 750 or above. The ECN number helps lenders identify a borrower’s credit profile, which helps them decide whether to extend the concerned borrower a loan or not. Thus, in a way, the ECN number connects borrowers with lenders. 
• Borrowers must regularly check CIBIL reports for errors. However, to be able to get their credit history and repayment details as well as other information about them, the borrower must quote their ECN number. Similarly, even if a borrower has any queries, they can connect with CIBIL by quoting their ECN number and have all their questions answered and queries resolved. 
• The ECN number is also important because it is a system that helps CIBIL maintain the credit records of millions of customers around the world in such a way that the credit information bureau can access any borrower’s credit report at any time without any confusion. Thus, the concept of ECN number helps CIBIL keep things organized. 
• Lastly, the ECN number is confidential and therefore, it helps CIBIL store a borrower’s credit history and payment details in a secure manner. 

Final Words

To summarise, ECN or enquiry control number is a nine-digit number unique to a borrower or credit account. The number is important as it helps lenders assess a borrower’s credit report and use the information in the report to assess a borrower’s creditworthiness and repayment capacity. The ECN number helps CIBIL store information on millions of credit users in a systematic and organized manner. Borrowers can find their ECN number on their credit report or by asking their lender for it. All borrowers must have their ECN number with them as this number makes it easier for people to connect with CIBIL and have their queries resolved at any time.