What is an ECN Number and how can you get it?

Whenever you apply for a personal loan, there are a variety of personal loan documents that are checked to ensure that paying back your loan is feasible for you. At the same time, your credit score is also checked by various credit bureaus, and one such credit bureau in India is Equifax. 

If you have applied for an instant personal loan and the credit score is checked by Equifax, then you will probably come across the term ECN. Not sure what it means? Here’s all about the ECN number, how to get it, what is the importance of the ECN number and more.

What is meant by the ECN number?

The ECN (Equifax Control Number) is a unique identifier assigned to individuals by Equifax, one of the major credit information companies in India. This number serves as a reference to your credit information maintained by Equifax, making it easier for lenders to access and review your credit history when you apply for personal loans or credit cards. The ECN number is crucial for ensuring that the right credit information is retrieved and assessed by financial institutions.

What is the importance of the ECN number on my loan or credit card application?

Here’s why the ECN number is important for you:

Streamlined credit checks

The ECN number simplifies the process of credit checks. By using this number, lenders can quickly access your complete credit score report, which helps in the speedy processing of loan or credit card applications.

Accurate credit assessment

The ECN ensures that the credit information being reviewed is accurate and belongs to the correct individual, thereby reducing the chances of errors or mix-ups.

Identification

It also acts as a verification tool that helps in authenticating your identity, ensuring that your credit information is not misused by others.

Faster loan processing

For various types of loans, such as personal loans, home loans, or car loans, having an ECN number can boost the approval process by providing lenders with a quick reference to your creditworthiness.

Read more: Ways to check your credit score online – detailed guide

How can I get the ECN number?

Here is a detailed guide on how to get your ECN number:

Check the credit report

The ECN number is usually mentioned in your credit report provided by Equifax. You can obtain a copy of your credit report through the following methods:

• Visit the Equifax India website and request your credit report online. You will need to provide personal information, such as your name, date of birth, address, PAN number, and other relevant details.
• You can also request your credit report offline by mailing a request form to Equifax along with necessary documents like a photocopy of your PAN card and address proof.

Purchase your credit report

In some cases, you might need to purchase your credit report. Equifax provides various subscription plans that allow you to access your credit report periodically.

Review the credit report

Once you receive your credit report, locate the ECN number. It is typically mentioned at the top of the report or in the personal information section. The ECN number is a unique 9-digit code.

Read more: How to check the credit score using a PAN card?

How to ensure that you receive the correct credit report?

Here is what you can do to receive the correct credit report:

Make sure the information is accurate

Ensure that all the information provided during the request process is accurate and matches your official documents. Any discrepancy can delay the process of obtaining your credit report and, consequently, your ECN number.

Update your information

If you have recently changed your address or any other personal details, update the same with Equifax to ensure that your credit report reflects the most accurate information.

Reach out to customer service for delays

In case there are delays or issues in receiving your credit report, follow up with Equifax customer service. They can assist in resolving any problems and ensuring you get your report.

The ECN number is a vital aspect of managing your credit information. It not only helps streamline the credit assessment process but also ensures that your credit history is accurately reviewed and utilised by financial institutions. Obtaining your ECN number is a straightforward process as well, making it easy for the common person to simply visit the Equifax website or raise a request offline. 

While applying for any form of credit, be it a personal loan or credit card, always ensure that you see the credit report. For any discrepancies in the data, immediately reach out to the customer service department of the credit bureaus and ask for clarification.