Check All Active Loan On Your Pan Card for Free: The Permanent Account Number (PAN) card is a crucial document in the financial landscape. It is utilized by the Income Tax department to monitor taxpayers and plays a significant role in verifying one’s identity. However, like any other financial instrument, the PAN card is not without its risks. Recently, there has been an alarming increase in incidents where individuals find that loans have been fraudulently taken out in their names without their awareness or consent.
Cybercriminals have been known to misuse PAN cards and associated mobile numbers to obtain loans deceitfully, leaving victims with damaged credit scores due to unpaid fraudulent debts. Therefore, it is imperative to regularly monitor any active loans linked to your PAN card to protect yourself from such fraudulent activities. This article will outline various methods for checking active loans associated with your PAN card.
Check All Active Loan On Your Pan Card
In the current financial environment, it is vital to keep track of your financial obligations. Monitoring loans associated with your PAN helps maintain an accurate financial profile and prevents potential discrepancies. This guide provides straightforward steps to check the loans linked to your PAN card. Unlike previous years, loan approvals can now occur almost instantaneously, with the PAN card serving as a key identification document in this process.
This article will detail how to access all relevant loan information through different methods. Given the rise in fraud involving PAN cards, it is essential to routinely verify the active loans associated with your PAN to safeguard your personal information and prevent unauthorized loans. One effective way to do this is by reviewing your credit report, which provides a comprehensive overview of your credit history linked to your PAN card, including your credit score and all outstanding loans.
What Are Personal Loans?
Personal loans refer to unsecured financial products designed to assist individuals in covering a range of personal expenditures, including but not limited to home renovations, medical expenses, educational costs, or travel. Unlike secured loans, these loans do not necessitate the provision of collateral. Approval is typically based on the borrower’s income, creditworthiness, and capacity to repay the loan.
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How to Check Active Loans on PAN Card?
Recent reports from The Economic Times, dated June 18, 2024, highlight a surge in scams involving the misuse of PAN cards throughout the nation. Fraudsters are particularly targeting vulnerable populations, including the deceased, farmers, senior citizens, and students, resulting in tax notices ranging from Rs.1.3 Crore to Rs.12.2 Crore. Consequently, it is crucial to monitor your active loans and the utilization of your PAN card diligently.
If you wish to inquire about the active loans associated with your bank account, there are primarily two methods to do so using your PAN card:
1. Utilizing credit bureau services
2. Employing fintech applications
3. Contacting the lender directly
You may choose any of these three options based on your preference.
Verifying Active Loans with a PAN Card through CBS
Methods for Verifying Active Loans Associated with a PAN Card through Credit Bureau Services
Credit bureau services have been established for an extended period and serve as a dependable source of information utilized for various financial purposes. While multiple credit bureaus are available in the market, it is beneficial to be aware of the distinct options.
- CIBIL: CIBIL stands as one of the leading credit bureaus in India, primarily utilized for assessing credit scores necessary for loan applications.
- Equifax: Equifax is another well-known credit service agency that offers credit scores and comprehensive reports.
- Experian: In addition to providing credit scores and reports, Experian also delivers bureau services to its clientele.
- CRIF High Mark: This credit bureau, sanctioned by the Reserve Bank of India, offers credit reports and microfinance solutions across various sectors.
Understand how to verify active loans linked to a PAN card
Having identified the various credit bureaus operating in India, the next step is to understand how to verify active loans linked to a PAN card.
- Begin by visiting the website of your chosen credit bureau based on your specific requirements.
- If you are a first-time user, the site will prompt you to register.
- During the registration process, you will need to provide personal information, including your name, PAN number, and proof of address.
- After completing the registration, you will receive an OTP on your registered mobile number to confirm your registration.
- Once confirmed, you will be able to view your active loans.
- For existing users of these websites, the procedure is analogous to the aforementioned steps:
- Log in with your personal details, such as your PAN number and name.
- Confirm the OTP sent to your mobile device.
- After OTP verification, you can access the website to view your active loans.
- In addition to checking active loans using a PAN card, these websites also allow you to review your credit score, which is essential for assessing your financial health. Moreover, you can monitor for any unauthorized activities on your account and take appropriate measures to address them.
Methods for Verifying Active Loans via PAN Card Utilizing Fintech Applications
Fintech applications have gained significant popularity in India. In addition to facilitating everyday transactions, these applications can also be employed to verify active loans. The following steps outline the process:
- Begin by registering as a user, which involves submitting your KYC information, including bank account details and PAN number.
- After confirming your information, proceed to log into your account.
- Navigate to the loan section within the application.
- Examine the details of your active loans and manage your account accordingly.
- Although the specific steps may vary slightly from one application to another, the overall procedure remains consistent across most platforms.
Methods for Verifying Active Loans Using Your PAN Card with Lenders
The Permanent Account Number (PAN) card primarily functions as a tax identification tool; however, lenders often require supplementary information for verification purposes to access your loan records. Below are several methods to check your loan details utilizing your PAN card in conjunction with other necessary information.
1. Online Banking or Mobile Application
This method is frequently the most efficient and user-friendly. Many lenders provide digital platforms where you can log in using your credentials to view your active loans. The following steps outline the process:
- Register using your Know Your Customer (KYC) details, including your bank account information and PAN.
- Verify your credentials and access your account.
- Navigate to the ‘Loans’ section to review the active loans associated with your PAN. You can manage and assess each loan from this section.
2. Accessing the Lender’s Website
Certain lenders permit you to check your active loans directly on their website without the need for online banking access. You may need to register or create an account using your PAN card and other relevant details.
3. Direct Communication with the Lender
You can also reach out to the lender via phone or email to inquire about your active loans. Be prepared to provide your PAN card number, name, or loan account number for verification purposes. This approach can be particularly useful if you lack online access.
4. Reviewing Loan Statements
Examine your most recent physical statements from each lender. These documents typically contain information regarding your current loan balance, payment due dates, and applicable interest rates.
Monitoring loans
Monitoring loans associated with your Permanent Account Number (PAN) is crucial for maintaining a robust credit history and preventing financial irregularities. By conducting regular checks, you can enhance your financial management and stay informed about your obligations. To mitigate the risk of PAN card misuse, it is essential to monitor activities related to your PAN.
The prevalence of PAN card misuse has increased in recent years, necessitating vigilance among users. It is advisable to refrain from disclosing personal information linked to your PAN on dubious websites. If you discover that your PAN is active but the details do not match, it is imperative to file a complaint immediately. Regularly reviewing your credit report can help identify any loans that may have been taken out in your name without your knowledge. Periodic checks on your loan status are a prudent practice.
Utilizing the aforementioned methods, you can verify the status of active loans associated with your PAN and protect yourself from potential fraud. However, do not allow concerns about fraud to deter you from seeking a loan if you require immediate financial assistance. For personal loans, consider applying with Tata Capital, which offers competitive interest rates and requires minimal documentation. Additionally, our system allows you to conveniently track your loan application using either your mobile number or PAN.