CIF Full form in Banking, Customer Information File, is a computerized file that includes personal and other account-related information of all the bank's customers. The CIF is the most important piece of information for banks because it assists in the monitoring of proper account holders' data. As a result, the Customers Information Form has a number on it, which is referred to as a CIF number. This is a number associated with the computerized file that includes all of the bank's personal and account-related information.
The computerized file, also known as CIF, is represented by an 11 digit number. This file contains information on customers' loans and Demat accounts. It also contains customers' KYC information such as his address, identification information, and photo ID evidence.
What is the Full Form of CIF?
Where to Find Bank CIF Number?
Customers can easily find their CIF number both online and offline. Let us understand the steps to find the CIF number.
Log in to your internet banking account.
Choose the e-statement option.
Select the period of e-statement.
You will find your CIF number on the account summary page.
You can easily find your CIF number on the apps of various bank accounts.
CIF number is often printed on the first page of the bank customer's cheque book.
You can find the information of your CIF number by contacting your bank's customer care number.
You can also contact the branch manager of the bank for getting information regarding the unique code i.e. CIF number.
Do You Need Your CIF Number Often?
You won't require your CIF number often as is mainly required for bank administrative purposes.
You will need it if you are looking to change your bank branch or wish to access mobile banking and Internet banking.
Your CIF number will be transferred to the next bank every time you change your bank branch. The new bank will get your account-related information through this number.
A mutual fund, loan, or fixed account is managed usually through your existing CIF number; hence producing the CIF number all the time is not required.
What are the Benefits of CIF Number?
CIF full form, Customer Information File offers following benefits:
CIF is used to address customer’s issues and provides targeted services and products.
CIF acts as a single source of information to know all about the transaction made by the customers.
CIF is mainly used for marketing products to targeted customers. The bank/financial service provider analyses the behaviour of the customer and with the help of the data collected, markets the target products to them.