What is STD in a CIBIL Report: Full Form, Ways to Address STD Errors

Banks and non-banking financial companies (NBFCs) evaluate your CIBIL Report and assess your credit health before making any loan or card approvals.

Your CIBIL report consists of several terms such as 'STD', 'SMA', '000', and 'LSS'. Understanding each term is crucial for interpreting a credit report and maintaining an excellent credit profile. 

In this blog, you will get to know everything about STD in CIBIL Reports, including addressing errors and maintaining a healthy STD record. 

Quick Synopsis 

• STD stands for ‘Standard’, meaning you have been making regular and timely payments (on time, or within 90 days).
• Issues related to STD errors in your CIBIL report should be resolved, which can take up to 30 business days.
• Maintain a healthy STD record by setting up auto-deductions, keeping the credit utilisation ratio low, and checking the report periodically. 

What is STD in CIBIL Report? 

The STD full form in the CIBIL Report is 'Standard'. It indicates that the borrower has been making repayments (Irrespective of credit card or loan) on time or within 90 days from the due date.

It means it is a positive remark, demonstrating your responsible credit behaviour and has a favourable impact on your credit score.

How to Address STD Errors in Your CIBIL Report? 

Identifying any kind of error in your credit report is a serious concern, especially if it is regarding your ‘Standard’ status. 

To address the wrongly marked STD in the CIBIL report, follow the steps:

• Thoroughly Examine Your Report: Download the report from the official website and check it meticulously.
• Rectify any Inaccuracies: Check the loan account and the wrong STD classification.
• Submit a Correction Request: Visit the CIBIL Dispute Resolution portal and raise a dispute with appropriate details.
• Provide Necessary Documents: Upload all the supporting documents, including bank statements, payment receipts or loan statements, to validate your claim.
• Wait for Dispute Resolution: CIBIL or other credit bureaus will verify your claim with your lender and then update the report. It may take up to 30 business days to resolve. 

What Information Does a CIBIL Report Consist of? 

Besides the three-digit credit score, your credit report consists of much more information related to your financial health and credit behaviour. They are classified into two segments:

Inquiry Information

Whenever you apply for a loan or a credit card, the lender checks your report. It is performed under your authorisation and is considered a ‘hard inquiry’. All these types of inquiries are recorded as inquiry information and remain visible for almost 7 years in your credit report.

Too many hard inquiries show your dependency on credit accounts, reducing the chances of getting a loan or credit card approval easily.

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Account Information

Apart from hard inquiry information, you get to know about your overall loan amount, the type of loan, your lender’s details, the loan starting date, etc. The CIBIL Report also provides information regarding your EMIs in the past 3 years.

Moreover, your credit report lets you know about DPD or Days Past Due, which can be mentioned in terms like ‘STD’, ‘SMA’, ‘000’, ‘LSS’, ‘DBT’, etc.

How to Maintain a Healthy STD Record? 

Maintaining a healthy STD status requires developing some small but essential financial habits.

1. Set auto-deductions to pay for EMIs or credit card bills on time.
2. Keep your credit utilisation ratio less than 30% of your available credit limit.
3. Do not apply for multiple loans or credit cards in a short period.
4. Check your CIBIL report periodically for any errors or discrepancies.
5. If you find any inaccuracies in your report, raise a dispute request immediately.

Over a few months, you will be able to strengthen both your STD record and CIBIL score with these simple steps. 

Final Words 

Understanding STD in CIBIL reports is essential for maintaining a good credit profile. It shows that you made credit repayments within 90 days. However, it can also be marked as ‘000’ in your credit report since both STD and 000 demonstrate the ideal payment behaviour of a borrower.

So, maintain this record and improve the chances of availing quick loan and card approvals at a favourable interest rate.

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