Maintaining a good credit report opens doors to smoothly apply for financial products, such as credit cards or personal loans. If you’re not familiar with what dictates the banks’ approval of your loans, they will evaluate your credit record based on your eCCRIS report, checking for any outstanding debts or a high Debt Service Ratio (DSR).
Whether you are planning to get a new car, buy a home, or start a business, eCCRIS plays an important role in determining whether your loans will be approved. Banks need to trust that you can repay the borrowed amount, and all this credit history can be obtained through eCCRIS.
Moreover, eCCRIS provides banks with a clear picture of your credit history, helping them determine loan amounts that suit you and the best interest rates they should offer.
Generally, people get their credit reports through CTOS or other credit reporting agencies, which may impose fees. However, eCCRIS, or the electronic Central Credit Reference Information System (eCCRIS), is an online platform managed by the Central Bank of Malaysia (BNM), and users can access it for free.
The free credit report and score provide a comprehensive record of an individual’s financing and repayment history over the past 12 months. This includes details of your credit facilities such as all your approved credit cards, housing loans, or personal loan applications for the past 12 months.
If you have never taken note of your credit history and score, you can simply open your eCCRIS account for free. Just follow the steps below:
A step-by-step guide to opening an eCCRIS account
Step 1: Visit https://eccris.bnm.gov.my/.
Step 2: If you are a new user, click on the “Register Now” button.
Step 3: Complete the verification process.
Step 4: After verification, you’ll be directed to a page where you are prompted to fill in the required fields such as your full name, NRIC, phone number, and email address.
Step 5: Ensure all the information is accurate and tick the “Agree to the Terms & Conditions” box.
Step 6: Complete the registration by making a one-off RM1 transfer to a designated Bank Negara Malaysia account for verification purposes. The amount will be automatically refunded within 2 working days after completing your registration.
Step 7: Once the bank verifies your identity, you will receive a 6-digit OTP (One-Time Password) on your registered mobile phone.
Step 8: Then, you will be directed to a screen confirming your eCCRIS account registration was successful. If you see this, click on ‘Proceed to First Time Login’.
Step 9: Now, click on ‘First Time Login’ on the eCCRIS front page.
Step 10: Enter your IC number and the 6-digit OTP you received.
Step 11: You’ll be prompted to set your User ID, email, and a secure password. For added security, you’ll be asked to set a personal security picture, and a security phrase, and answer some security questions.
Step 12: Your registration is now complete. You can access eCCRIS to check your credit history.
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