The DBT full form in CIBIL is “Doubtful.” Before understanding the meaning of DBT, let us focus on DPD or Days Past Due in CIBIL reports. It is essentially a snapshot of the borrower's spending patterns. It shows the precise number of days that a borrower has not made the required EMI payment. Your creditworthiness would decline with an increase in DPD.
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The DPD value is usually displayed in a CIBIL report in the following ways;
- 000:
This means that there is no available credit history of an individual. There are no outstanding credits and all debts owed in the borrower's name have been paid in full.
- XXX:
This means 'Insufficient data'. This may occur if the creditors from whom the client previously obtained credit failed to keep repayment records or failed to send them to Transunion CIBIL.
- 30/60/90:
The duration for which the borrower has fallen behind on EMI payments is indicated by the appearance of figures like 30 / 60 / 90.
However, in compliance with the Reserve Bank of India's (RBI) asset classification guidelines, the mentioned values might at times be displayed in a different format, like STD, SUB, DBT, or LSS.
What is DBT in CIBIL meaning?
A DBT status indicates that the borrower's account has been in the SUB category for more than 12 consecutive months (SUB indicates that charges are being paid after 90 days). Lenders would be advised to deny the loan applications of such debtors because the odds of recovery are virtually nonexistent.
I hope this helps you understand what is DBT in CIBIL report.
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If you want to avail a loan, you must already be knowing that CIBIL score is very important. Lenders tend to report DPD or Days Past Due values in different forms as per asset division rules set by RBI and DBI in CIBIL is one such value that appears for DPD. Let me share some details related to it.
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DBT indicates that the account has remained sub-standard for more than a year or 12 months but there are still chances of repayments from the borrower’s end. DBT stands for Doubtful in such cases. After knowing DBT meaning in CIBIL you must have already understood that it is not a good thing and for this, you might not be approved for the loan you are asking for.
Paying EMIs is very essential to increase the credit score or at least maintain it. Getting to know the meaning of DBT in CIBIL report should be enough for you to know that missing EMIs for consecutive 3 months can have serious impact on your credit score as well as on creditworthiness so try to check your credit score regularly to avoid any negative impact.
I hope the concept of DBT in CIBIL is clear to you now.
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What Is DBT In CIBIL?
Rani
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2022-08-10T10:01:42+00:00 2023-09-29T22:24:49+00:00Comment
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