How to Get Cleared by CRB Easily

This article analyzes some of the ways to get cleared by CRB Easily. Being in the bad books of CRB is almost every Kenyan’s nightmare.

You get on the bad books of CRB if you owe money to registered financial institutions and you fail to pay. These institutions forward your details to CRB.

You will have to clear your loan and interest in order to get a clearance certificate. Even those who do not own financial institutions any dime are required to get a CRB certificate as proof of no impending loans.

How to Get Cleared by CRB Easily

This is how to get cleared by CRb Easily. But first let’s get to know what is CRB.

What is CRB?

Credit Reference Bureau (CRB) is a firm concerned in collecting financial information from several financial organizations. The firm provides consumers’ credit information to these organizations so the consumer can be held accountable.  Some of these institutions include but not limited to;

• Banks
• M-Pesa
• M-Shwari
• Branch
• Tala
• An employer
• Higher Education Loans Board (HELB)

You default a loan when you breach its repayment terms and conditions. Defaulting your mortgage could be missing 3 consecutive installments while defaulting an M-Shwari loan is failing to repay on the stipulated date.

Here are the different scenarios of how to get cleared by CRB:

1. Here is how to be Cleared by CRB Without Impending Loan

If you are not listed on CRB, getting the report and clearance certificate is relatively easy.

You’ll just have to tender your application through a registered credit reference bureau in Kenya. You will also have to pay Sh. 2,200 to get the certificate.

2. How to Get Cleared by CRB if You are a Defaulter

If you have defaulted your payments and are listed, try to clear the loan with your defaulter first. You can approach your lender and renegotiate on your terms of repayments, especially if you are serving a heavy loan.

You will have to clear your pending defaulted premiums to restore your credit score. If this is impossible, you will have to release your collateral to cover the loan and clear your name.

Once you have settled your scores with the lender, it normally takes a day or two for your new credit score ratings to reflect on CRB.

List of CRB Agents who can clear you.

There are three main CRB agents that can help you in getting cleared by CRB;

1. CreditInfo

This organization gives you access to all your financial records. By signing up with them, you will get a free credit report for a year. CreditInfo also offers free financial monitoring for a year.

2. Metropol

This organization is licenced by Central Bank of Kenya to offer all CRB services to banks and individuals. Metropol charges Ksh 100 to check you financial status.

3. TransUnion

Once you sign up with this organization, they will help you check your credit score. After inquiry, you will receive a “good” or “negative” text from the organization.

Good means no financial institution has reported you and negative means you have defaulted a loan.

How to Check Credit Score in Kenya

Every CRB has a different means of checking credit status.

Metropol

• Pay Ksh 100 via M-Pesa on their paybill 220338.
• Use your ID number as account number
• The firm will send a unique pin and a link
• Follow the link to access Metropol services

To check listing status, follow the same procedure but pay Ksh 50 instead of Ksh 100.

TransUnion

• Send full name and ID to 21272 via SMS
• Amongst the option you’ll receive, enter CC (credit status)
• You’ll will receive a “good” or “negative” notification
• After first free trial, you will be reuired to pay Ksh 650 via paybill number 212121
• Use your ID as account number

CreditInfo

• Go to CreditInfo website and sign up
• Request for a credit report
• They will send you a mail
• After one year of free services you will be required to pay Ksh 350

How Long Should You Wait to Apply For the Certificate After Clearance

Give yourself up to three days before applying for the certificate after doing your clearance. A day is however enough in some instances since banks send back daily reports to the CRB.

The time between the CRB Kenya clearance certificate application and certificate issuance varies depending on which institution you choose to work with.

CRB clearance certificate

Remember that a CRB certificate of clearance is only valid for the day of issuance due to the daily borrowing record updates. Always strive to make an application just when you need it.

Most institutions will frown upon certificates that are months old. Once you make an application, Sh. 2200 will be paid straight to your CRB of choice via a bank account or M-Pesa.

No Kenyan wants to be on the wrong side of CRB. Getting cleared is easy, especially if you have not defaulted any loan. Follow Bizna Kenya for more updates on CRB and Kenyan news.