What is CCRIS?

CCRIS stands for Central Credit Reference Information System which is maintained by Bank Negara Malaysia. It requires financial institutions (includes all licensed commercial banks, Islamic banks, investment banks, development banks, insurance companies etc. to submit their customer’s credit information to this centralised system.

Financial institutions will access the CCRIS system and look at the borrowers’ overall credit history with any financial institutions. They will use the CCRIS Report as part of their credit approval process.

A CCRIS Report contains the following information:

1. Outstanding loans: housing loans, personal loans, credit cards, hire purchase, overdraft etc. which will include information on any outstanding amount (utilization), credit limit, payment behaviour (late payments), legal status (legal action being taken), type of loan (and how many) applications were approved and rejected etc.

2. Special Attention Accounts (accounts deemed non-performing loan (NPL), or under special debt management schedules

3. Loan or credit facility applications made in the past 1 year

With CCRIS, banks will be able to know everything about their borrowers’ financial history, repayment behaviours and credit worthiness.

Things you should know about CCRIS

If you want your financial profile to look pretty to bankers, you must know how CCRIS works.

Firstly, CCRIS updates its records on the 15th of each month. Therefore, settle all your outstanding repayments by the 14th of each month.

Secondly, CCRIS only shows repayment records for the last 12 months. If you have a number of late payments, wait 12 months from your last known late payment before submitting a loan application.

If you have high credit card or overdraft utilisation, reduce your utilisation level before submitting a loan application.

Lastly, you should have at least an active loan or facility (no history of late payments) with a bank so that bankers can get to look at your financial history when accessing your loan application. If you do not have any loan account yet, go and apply for a credit card as banks may be reluctant to lend money to people with no credit history of any sort.

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