There are several banking terms that you come to know daily and out of that CIF number is one of the most important factors that every account holder aware of.
If you heard this word the first time and want to know everything about then today you are in right place to know what is CIF full form or means in banking.
CIF Full form & Meaning in Banking
CIF full form is Customer Information File no. It is a computerised text file contains the full information of a customer. Each bank customer’s account/account comes with unique CIF number.
No matter, how many accounts you have with the bank. All those can be accessed with single CIF number. Because as per RBI guidelines bank allows single CIF no. to one customer even he has multiple accounts in the bank.
Each bank has its own unique CIF Numbering system to control customer accounts so this is possible that all banks have different CIF codes listings. Below is the formats of these unique numbers list in various banks in India:
- SBI has 11-digit
- HDFC has 8-digit
- Central Bank of India (CBI) has 10-digit
- Axis Bank has 4-digit
CIF number importance in banking
Every bank has its own working system and CIF number is one of them to keep customer’s personal (contact) information as a text file. This file carries following data of a bank account holder:
- It stores all of your KYC details.
- It stores your loan history.
- It stores your financial activities on daily basis.
- It carries your Demat related information.
- CIF folder helps the bank to view your all accounts information at one place.
How to Find CIF Number in banking?
There are so many methods to find you CIF no. It depends on the bank to bank terms. If you own an account in SBI then you might follow our guide here. But if you are banking with some other banks then we have shared all that ways on our separate website here.
I hope this guide will help you to under what is CIF full form exactly. How was your experience after reading this article, do share your opinions with us in the comments section below.