Checking your CCRIS and CTOS report before applying for a loan is a critical step in understanding your creditworthiness in Malaysia. CCRIS refers to the Central Credit Reference Information System, a database managed by Bank Negara Malaysia that tracks credit history, loan repayments, and outstanding debts. CTOS is a private credit reporting agency that compiles financial data from public records, banks, and legal sources to generate credit scores from sources like court records, bankruptcy notices, and trade references. Reviewing these reports helps identify errors, assess loan approval chances, and improve credit ratings for better financing terms.
A free CCRIS check can be done online via Bank Negara’s eCCRIS portal, while CTOS offers paid reports with detailed credit scores. Lenders rely on these reports to evaluate risk, so discrepancies or poor scores may lead to higher interest rates or rejections. Proactively monitoring and correcting records increases approval odds for car loans, mortgages, and personal financing. A clean and accurate credit profile not only helps you qualify for better loan terms but also avoids unnecessary rejections that could further impact your credit standing.
CCRIS vs CTOS
What Is the Difference Between CCRIS and CTOS?
CCRIS and CTOS serve different roles in credit reporting. CCRIS is a government-operated system that collects credit data from financial institutions, including banks and lenders, and provides a standardized credit report. CTOS, on the other hand, is a private agency that gathers credit information from public records, legal proceedings, and financial institutions to generate a credit score.
CCRIS reports focus on loan repayment history, outstanding debts, and active credit applications, while CTOS scores (ranging from 300 to 850) evaluate credit risk based on payment behavior, legal records, and financial commitments. Both reports influence loan approvals, but banks may prioritize CCRIS for home and car loans.
Why Should You Check Your CCRIS and CTOS Report Before Applying for a Loan?
Reviewing your CCRIS and CTOS report helps you avoid loan rejections. Lenders assess these reports to determine your credit risk. A poor score or errors in your report can lead to higher interest rates or outright rejection.
For example, if your CCRIS shows multiple late payments, banks may classify you as high-risk. Similarly, a low CTOS score (below 650) may reduce your chances of securing unsecured loans. By checking these reports beforehand, you can dispute inaccuracies, settle outstanding debts, and improve your credit profile.
How Do You Check Your CCRIS Report for Free?
You can access your CCRIS report for free through Bank Negara Malaysia. There are four methods to obtain your report.
The first option is eCCRIS, an online portal where you can register and download your report. Initial registration requires in-person verification at a BNM branch. The second method is using BNM kiosks located at selected branches, where you can print your report after biometric verification. Alternatively, you can visit BNM headquarters or state offices with your MyKad to request a physical copy. The fourth option is submitting a request via email or post, though this method takes longer.
How Do You Check Your CTOS Report?
CTOS provides credit reports through its online platform or mobile app. To get your report, you must first register for a CTOS account.
Registration can be done online via the CTOS website, through their mobile app (available on Google Play and the App Store), or by visiting one of their seven service centers nationwide. After identity verification, you receive your MyCTOS Score Report, which includes your credit score, CCRIS data, and legal records. The first report is free, but subsequent requests cost RM25 per report. CTOS also offers credit monitoring services for RM9.90 per month, which includes alerts for changes in your credit profile.
What Information Is Included in a CCRIS Report?
A CCRIS report contains three main sections. The first section lists outstanding credits, including personal, business, and joint loans. This section shows your repayment history, loan amounts, and remaining balances.
The second section highlights special attention accounts (SAA), which are loans flagged for late payments or defaults. The third section records credit applications made in the last 12 months, including pending and approved requests. For example, if you missed three consecutive home loan payments, the bank may mark it as an SAA, negatively impacting future loan approvals.
What Information Is Included in a CTOS Report?
A CTOS report has five key sections. Section A covers personal details, while Section B includes data from Bank Negara and government agencies.
Section C lists business ownership and directorship records from SSM (Companies Commission of Malaysia). Section D provides credit information, such as CCRIS records and bounced cheques. Section E details outstanding utility bills, including unpaid PTPTN or telecommunications debts. For instance, if you have an unresolved bankruptcy record, it will appear in Section B, lowering your CTOS score.
How Can You Improve Your CCRIS and CTOS Score Before Applying for a Loan?
Improving your credit score requires proactive financial management. Start by settling overdue loans listed in your CCRIS report. Banks prioritize borrowers with clean repayment histories. Next, reduce your credit utilization ratio. If your credit card balances exceed 30% of your limit, pay them down to improve your score.
Another strategy is avoiding multiple loan applications within a short period. Each application triggers a credit inquiry, which can lower your score. Instead, space out applications by at least six months. For CTOS, dispute inaccuracies by submitting supporting documents. If a settled legal case still appears, CTOS can update it with proof of resolution.
What Are Common Mistakes That Lower Your Credit Score?
Late payments and high debt levels are the biggest credit score detractors. Missing even one credit card payment can drop your CTOS score by 50 points.
Another mistake is co-signing loans for others. If the primary borrower defaults, it affects your CCRIS report. Similarly, maxing out credit cards signals financial stress, making lenders hesitant to approve new credit. For example, if your CCRIS shows five active credit cards with high balances, banks may reject your car loan application due to excessive debt exposure.
How Long Does Negative Information Stay on Your CCRIS and CTOS Report?
CCRIS records refresh every 12 months, meaning old data is replaced with updated information. However, severe issues like bankruptcies remain for up to 10 years in CTOS reports. Late payments and defaults stay visible for 12 months in CCRIS, but settled accounts show as closed. In CTOS, legal cases and bankruptcies persist until resolved and verified.
If you settled a defaulted loan last year, it will no longer appear in your CCRIS, but CTOS may still reflect it until you request an update.
Can You Get a Loan with a Bad CCRIS or CTOS Record?
Some lenders accept borrowers with poor credit, but terms are less favorable. Cooperatives and licensed money lenders offer loans to those with CCRIS issues, often at higher interest rates.
For example, Direct Lending provides loans for applicants with CTOS/CCRIS problems, focusing on debt consolidation. However, traditional banks usually reject applications with active SAAs or scores below 600. Checking and improving your credit reports before applying increases approval odds and secures better rates.