What is CCRIS and How to Get CCRIS Report in Malaysia 2024?

Are you dreaming of owning your own home in Malaysia? Well, one important step on that journey involves understanding something called a CCRIS report.

Don't worry if financial terms make your head spin sometimes – we're here to simplify it for you. In this guide, we'll break down everything from what a CCRIS report is to how you can obtain your own personal report. Let's dive in!

What Is A CCRIS Report?

The Central Credit Reference Information System (CCRIS) is a system created by Bank Negara Malaysia’s (BNM) Credit Bureau to provide standardized credit reports on a potential borrower. A credit score indicates a consumer’s credit risk.

Basically, CCRIS is a centralized database that gives an overview of your financial health. It is managed by Bank Negara Malaysia and consolidates information from various financial institutions about your borrowing and repayment history, such as:

• Banks
• Insurance providers
• Development financial institutions
• Payment instrument issuers
• Credit leasing companies
• Government agencies
• Private utility companies

Knowing what's in your CCRIS report is super important because It shows how responsible you've been with borrowing and repaying money. By checking your report regularly, you can make sure everything's correct and fix any mistakes. Having a good credit score can be very beneficial for you, as most banks and credit providers would view you as a prime customer. A good credit score can increase your chances of getting a loan, get you better interest rates, and speedier loan and credit application approval, among other things.

What Is Included In A CCRIS Report?

A CCRIS report provides a snapshot of a person's credit situation by focusing on three key areas:

• Outstanding credit(s): This section summarizes all existing loans, including personal, joint, and commercial loans, along with any outstanding balances.
• Special attention account(s): These are loans that have been flagged by financial institutions for closer monitoring, usually due to payment issues or overdue amounts.
• Credit application(s): This part lists any recent credit applications made by the individual, including those pending approval or approved within the last year.

It's important to note that the information in a CCRIS report is typically updated regularly and covers the past 12 months.

How Often Is A CCRIS Report Updated?

Your CCRIS information managed by Bank Negara Malaysia (BNM) undergoes regular updates (on the 15th of every month) to ensure the accuracy and relevance of your credit profile. Specifically on the 15th of every month, these updates include details such as:

• The types of credit facilities availed.
• Payment history.
• Installment amounts.
• Credit limits.

Additionally, the update includes any credit applications you've made, both approved and pending, over the preceding 12 months. This monthly refresh of your credit report serves as a crucial tool for financial institutions and lenders to assess your creditworthiness accurately.

4 Ways to Get CCRIS Report in Malaysia 2024 for FREE

Understanding and staying updated with your CCRIS report is good, especially when you’re considering purchasing a new home. Here are four convenient methods for getting your CCRIS report with a straightforward and simple process:

1. eCCRIS Portal:

The eCCRIS portal offers a convenient and secure way to access your CCRIS report online at any time. CCRIS registration procedures may vary depending on your circumstances, but the platform provides clear instructions for registration, ensuring ease of use for all users.

2. CCRIS Kiosks:

These kiosks are conveniently located at Agensi Kaunseling dan Pengurusan Kredit (AKPK) premises nationwide. To retrieve your CCRIS report from a kiosk, simply insert your MyKad and provide your thumbprint for identity verification. Once authenticated, you can print your CCRIS report on the spot, enabling quick and hassle-free access to your credit information.

3. Approved Credit Reporting Agencies:

Alternatively, you can obtain your CCRIS report through approved Credit Reporting Agencies. These private companies, including CTOS Data Systems Sdn. Bhd. (CTOS), Credit Bureau Malaysia Sdn. Bhd. (CBM), and Experian Information Services (Malaysia) Sdn. Bhd. (formerly known as RAM Credit Information Sdn. Bhd.), offer their own credit reports. While the previous two methods are free of charge, these agencies may levy a fee for their services. However, opting for this method provides an additional avenue for obtaining your CCRIS report, ensuring flexibility in accessing your credit information.

4. BNMLINK Kuala Lumpur or BNM Offices:

For personalized assistance, you can visit BNMLINK Kuala Lumpur or any BNM offices. Bring along your MyKad and any additional identification documents, such as your driver's license or passport, for verification purposes. Upon verification, you'll receive your CCRIS report during your visit, along with any guidance or clarification you need. Alternatively, you can also request your CCRIS report through mail, email, or fax by reaching out to BNM Telelink. Be sure to include all necessary documentation as per their requirements to facilitate the process efficiently.

4 Steps on How to Register eCCRIS?

Registering for eCCRIS is now more accessible and convenient for Malaysian individuals with a MyKad and internet banking facility.

Here's a step-by-step guide:

1. Online eCCRIS Registration:

Visit the eCCRIS portal and follow the instructions for new user for eCCRIS registration. You can complete the entire eCCRIS registration process online without the need for physical presence at Bank Negara Malaysia (BNM) or Agensi Kaunseling dan Pengurusan Kredit (AKPK) premises.

2. Digital Identity Confirmation:

As part of the registration process, you'll need to confirm your identity digitally. This involves transferring RM1 to a designated Bank Negara Malaysia (BNM) account via internet banking. This step ensures that only valid financial consumers are registering for eCCRIS.

3. Automatic Refund:

The RM1 transfer will be automatically refunded within 2 working days upon successful eCCRIS registration. This small fee is a security measure to authenticate new users.

4. Authentication Confirmation:

If the authentication process is successful, you'll receive a 6-digit One-Time Password (OTP) to your registered mobile number and email. You'll need to enter this OTP to complete your registration and gain access to eCCRIS.

For Malaysian individuals with MyKad but without internet banking facilities or a bank account, registration can be done through alternative methods:

1. CCRIS Kiosks: Visit any AKPK office nationwide and use the CCRIS kiosks to register. Simply follow the instructions provided at the kiosk.

2. eLINK: Submit a completed application form and supporting documents via eLINK. The application form can be downloaded from the provided link.

For companies, businesses, non-individuals, or non-Malaysian individuals, registration must be done via eLINK by appointing an authorized person to submit the application form and supporting documents.

How is CCRIS Different From Other Credit Reports?

CCRIS (Central Credit Reference Information System) often gets confused with other credit reports, mainly CTOS. It may seem similar but serves distinct purposes and contains different sets of information.

1. CCRIS:

• Managed by Bank Negara Malaysia (BNM).
• Provides comprehensive credit information primarily related to loans and credit facilities regulated by financial institutions.
• Contains data such as outstanding loans, payment history, credit applications, and special attention accounts.
• CCRIS reports are crucial for financial institutions to assess an individual's creditworthiness and manage credit risks.

2. CTOS:

• A credit reporting agency registered under the Credit Reporting Agencies Act 2010, regulated by the Ministry of Finance.
• Offers its own credit report, including the CTOS score, which is a credit score indicating an individual's credit risk.
• CTOS score ranges from 300 to 850, with higher scores indicating lower credit risk.
• In addition to CCRIS data, CTOS reports include a broader range of information:
• Personal information sourced from the National Registration Department.
• Data on dishonored cheques from Bank Negara Malaysia.
• PTPN loan information sourced from CCRIS reports.
• Directorship and business interest data from the Companies Commission of Malaysia (SSM).
• Litigation and bankruptcy information from the Malaysia Department of Insolvency (MDI), courts, and government gazettes.
• Trade referee listings from subscribers/creditors such as utility companies, telcos, and others.

3. Other Credit Reporting Agencies:

• Credit Bureau Malaysia and Experian Information Services are additional credit reporting agencies.
• They offer their unique credit reports, incorporating CCRIS information along with other data sources and analytics to provide insights into an individual's creditworthiness.

While CCRIS focuses on regulated credit information managed by BNM, other credit reports like CTOS offer a broader spectrum of credit-related data, including personal information, legal records, and trade references, to provide a comprehensive assessment of an individual's credit risk profile. Each credit report serves its purpose in helping individuals and financial institutions make informed decisions regarding credit and financial management.

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