While banking, you will come across several banking terms and one among those is CIF Number! Do you have any idea about CIF? What is the importance of CIF no. and what do the number means? Before you learn about the significance of CIF Number in banking, you must learn its full form.
Full Form of CIF
CIF is the abbreviation used for Customer Information File. Every account holder of any bank obtains a unique CIF number provided by the respective bank. As every account holder has a unique account number, similarly, every account holder receives a CIF number with certain digits. The set of figures represents the file of the account holder.
Details about CIF Number and its importance in banking
- Customer Information File or CIF is a virtual file containing essential banking details.
- This unique number set can be used to retrieve personal as well as financial information of the account holder.
- With this CIF number, information regarding loans, fixed deposits and demat can get collected.
- Referring the CIF number of the account holder, the bank officials can obtain the details of account holder including their identity, address, photo, and signature.
Every account holder obtains one CIF number
Every bank has a different set or format of CIF number. If you have multiple accounts at the same bank, all of the accounts will get linked to one CIF number provided with the first account. CIF number has great importance in banking as it helps the bank to track the accounts of its customers easily. The CIF number also gets used as the User ID for Internet Banking and Mobile Banking.
How to Find your CIF Number
The format of the CIF number varies with banks. Every bank follows a different format and prepares a unique set of digits for their customers. By default, you will get your CIF number printed on the passbook. If you have a fixed deposit, you can find the CIF number written on the FD certificate as well! Collect your CIF number for future use and smooth banking services!