Your permanent account number (PAN) card is one of the most important documents. Not only does the Income Tax department utilise it to track taxpayers, but it also serves as a vital tool for establishing one’s identity.
But as with any other product, there are some risks associated with them, and a PAN card is no exemption to it. Recently, there has been a rise in reported cases where individuals discover that loans have been taken out in their name without their knowledge or consent.
Cybercriminals have exploited PAN cards and mobile numbers to fraudulently secure loans under unsuspecting victims. As a consequence, victims suffer damage to their CIBIL score as these fraudulent loans go unpaid.
Thus, to safeguard yourself from such incidents, keeping a close check on your active loans using your PAN card is essential. In this article, we will explore multiple ways to check an active loan using a PAN card.
So, let’s get started.
A Guide on How to Check Active Loans on PAN Card
Say you want to know about the active loans with your bank account, and you’d like to search for them. There are primarily a couple of ways to search for an active loan using your PAN card. They are through the following:
- Using credit bureau services
- Using fintech applications
- Directly reaching out to the lender
Depending on your convenience, you can use either one of the three:
1. How to Check Active Loans on a PAN Card Using Credit Bureau Services
Credit bureau services have been in existence for a very long time. They are a reliable and trustworthy source of information that people use for various purposes. While you can use any of the credit bureaus in the market, it can help to know the different ones available.
CIBIL: CIBIL is one of the prominent credit bureaus in India. Their services are predominantly used to check credit scores for availing loans.
Equifax: Equifax is another popular credit service agency that provides credit scores and reports.
Experian: Along with credit scores and reports, Experian also provides bureau services for its customers.
CRIF high mark: An RBI-approved credit bureau based in India, CRIF high mark provides credit reports and microfinance for several industries.
Now that you know the different credit bureaus available in India, let’s see how to check active loans on a PAN card.
- First, visit one of these sites according to your preference and needs.
- If you haven’t registered before, the website will prompt you to do so.
- During registration, you will be asked for information about your name, PAN number, address proof, and the like.
- Once registered, the website will ask you to confirm your registration using an OTP, which you’ll receive on your registered mobile number.
- Post confirmation, you can see your active loan.
If you are a registered user at one of these websites, the process is similar to the above-mentioned steps. They are:
- Log in using your personal details, such as PAN number and name.
- Confirm OTP that you’ll receive on your phone number.
- Access the website to view your active loan post-OTP confirmation.
On these websites, apart from checking active loans using a PAN card, you can also see your credit score, which can be useful to know how well your financial health is. Furthermore, you can also see if there is any unwanted action on your account and take steps to fight against it.
2. How to Check Active Loans on PAN Card Using Fintech Applications
Fintech applications are quite the rage in India. Apart from using them in your everyday life for making quick payments, you can also use them to check your active loans. Here are the steps to do that:
- Register yourself as a user by providing your KYC details such as bank account details, PAN number, etc.
- Confirm your details and log into your account.
- Access the loan section in the app.
- View your active loan details and manage your account.
While the steps may change slightly depending on the app, the general overview here is the same for most of them.
3. How to Check Active Loans on PAN Card Directly With the Lender
A. Contacting the lender directly
Sometimes the traditional way can be the best method to do things. For example, directly speaking to your lender or visiting them in person can help you check your active loans.
But since this is personal information, they will cross-check to confirm if you are the owner of the particular loan account. Lenders will generally ask you for the following information:
- Bank account number
- Full name of the individual
- Loan account number
- PAN card number
- OTP verification on the mobile number
- ID proof
While the list may be long, lenders are cautious about sharing personal information. So, ensure you keep a list of these documents ready in both images and print format if you’re going in-person to the lender.
B. Net banking or mobile app
Most lenders offer their mobile banking app where you can log in with your credentials and carry out banking activities, conduct transactions, and manage your bank account.
- Sign up on the app using your KYC details including your bank account information and PAN.
- Verify your credentials and log in.
- Navigate to the “Loans” section to view and manage your active loans.
C. Check the lender’s website
Some lenders also allow you to manage your loan account on the website without using the mobile app. You can log in to their website using your credentials and view your active loans.
D. Check loan statements
You can request paper statements from your lender. Review these statements which typically include information related to your current loan balance, payment due date, and interest rate.
The Bottom Line
Checking your loan occasionally is a good practice. And by using any of the above mentioned methods, you can check active loan status using a PAN card and keep yourself safe from potential fraud.
But don’t let this scare you from getting a loan if you are in need of urgent funds. To get a personal loan, you can apply with Tata Capital. We offer personal loans at competitive interest rates with minimal documentation.
Moreover, our system lets you easily track your loan application using your mobile number or PAN card. Here’s what you need to do:
Step 1: Visit our website.
Step 2: Select ‘Personal loan’ under the ‘Explore our Products’ section.
Step 3: Click on ‘Track my Application.’
Step 4: Insert your mobile or PAN numbers to track the personal loan application status.
Step 5: Click on the ‘Submit’ button.
And that’s how you can easily track your loan application status using a PAN card.
FAQs
You can check your credit report from credit bureaus, check your account with the fintech application, or contact your lender directly to view all active and closed loans linked to your PAN card.
Visit your lender's website or mobile banking app or credit bureau platforms, enter your PAN card details to access a detailed report of your loan accounts and status.
Log in to your lender's portal or credit bureau websites, log in using your credentials, and retrieve the status and details of your loan.
It is important to monitor your credit report regularly for unauthorised loans. Any unfamiliar loans in the report could indicate fraudulent use of your PAN card.
Applying for a new or duplicate PAN card does not affect your CIBIL score. Credit history remains tied to your original PAN.
03 December 2024
6 mins read
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