PAN cards play a vital role in tracking an individual’s financial activities, including loans. If you have taken multiple loans, it is essential to keep track of them for financial management and credit health. You can easily loan check by PAN number using online portals or by contacting credit bureaus. This article explores the ways to check your personal loan status and highlights why it is important to monitor your active loans regularly.
Different ways to check active loans on your PAN card
How to check active loans on a PAN card using credit report
Monitoring active loans linked to your PAN card is crucial for effective financial management. By accessing your credit report through authorized credit bureaus, you can view detailed information about all active loans, including repayment schedules, outstanding balances, and lender details.
Check your CIBIL score
Your CIBIL score reflects your financial credibility. Follow these steps to check it:
- Access a credit bureau: Visit the official CIBIL website to check your score.
- Input required details: Provide your PAN card number, date of birth, and any additional details requested.
- Review your credit report: Once verified, you can view your CIBIL score along with details of active loans and repayment history.
Monitoring your score helps maintain financial discipline and plan for future loans.
Check your Experian score
To track your financial health, check your Experian score by following these steps:
- Visit Experian's website: Go to the official Experian platform to access your score.
- Enter necessary details: Provide your PAN card number, date of birth, and other required information.
- View your report: Once verified, you can view your Experian score along with detailed information about your active loans and repayment history.
Checking your score regularly ensures you stay on top of your credit profile.
How to check active loans on a PAN card using Equifax
To check your active loans using Equifax, follow these steps:
- Visit Equifax's website: Go to the official Equifax platform to access your credit report.
- Provide required details: Enter your PAN card number, date of birth, and other necessary information.
- Review your credit report: After verification, you can view your credit score and details of any active loans linked to your PAN card.
Regularly monitoring your credit report helps you stay informed about your financial standing.
How to check active loans on PAN card using Fintech applications
You can easily track active loans linked to your PAN card by using fintech apps. Here's a simple guide:
- Install a reliable app: Download a reputable app like Paytm or PhonePe that offers credit report services.
- Register and link your PAN: Sign up and provide your PAN card details for verification.
- Access your credit report: After linking your PAN, you can view your active loans and other credit details.
Fintech applications make it easy to stay on top of your financial obligations with just a few taps.
How to check active loans on PAN card directly with the lender
You can directly check your active loans linked to your PAN card with your lender. Here are a few methods to access your loan details:
1. Net banking or mobile app
Log in to your lender’s net banking portal or mobile app. Most lenders allow you to view the status of your active loans, outstanding balance, and payment history through these platforms for easy tracking.
2. Checking the lender's website
Visit the lender's official website and log in to your account. They usually provide a dedicated section where you can view the details of your current loans and track your repayment progress.
3. Contacting the lender directly
You can call your lender's customer service or visit a branch in person. They will provide you with the necessary information regarding any loans linked to your PAN card, including the outstanding balance and repayment terms.
4. Checking loan statements
Regularly check your loan statements sent by your lender via email or post. These statements provide detailed information on the loan balance, due payments, and the loan tenure, allowing you to track your active loans easily.
Exploring different methods to check active loans on your PAN card
There are several ways that you can check the loans linked to your PAN card, each offering different levels of accessibility and detail.
1. Using credit bureau services
Credit bureaus like CIBIL, Experian, and Equifax maintain detailed credit histories for individuals. By entering your PAN card details on their platforms, you can access a report that lists all active loans. These reports not only show loan amounts but also provide repayment history and any outstanding balances. This method is reliable and provides a comprehensive overview of your credit health.
2. Using fintech applications
Several fintech platforms and mobile apps provide credit tracking services. These apps allow you to check active loans by linking your PAN card. These apps are convenient for quick checks and are user-friendly, making it easier for individuals to stay updated on their loan status without complex processes. Using the Bajaj Finserv app, you can check the status of your ongoing loan from Bajaj Finance.
3. Directly reaching out to the lender
If you are uncertain about a specific loan, contacting your lender directly is another effective method. Banks and financial institutions can provide details of any active loans associated with your PAN card. This method ensures accuracy, especially in cases where loans have been recently closed or if any discrepancies appear in your credit report.
Importance of checking active loans on your PAN card
Regularly checking your active loans offers several benefits, including helping you manage your finances effectively and ensuring your credit information is accurate. Here are some of the key reasons why you should do so:
1. Maintaining credit health
One of the primary reasons to track active loans is to maintain your credit health. Knowing your current liabilities allows you to make informed decisions regarding further loans. By regularly monitoring your credit report, you can avoid over-borrowing and ensure timely payments to improve or maintain a good credit score.
2. Detecting fraudulent activities
Monitoring loans on your PAN card is a good way to detect any unauthorised loans taken under your name. If you notice a loan that you did not apply for, you can immediately take action by informing the concerned authorities. This prevents identity theft and financial loss.
3. Financial planning and management
Keeping track of your active loans allows you to manage your budget effectively. You can monitor monthly EMIs, outstanding balances, and plan for future financial goals, such as applying for a new personal loan. This proactive approach to managing your finances ensures that your debt-to-income ratio stays healthy.
4. Ensuring loan closure is recorded
Sometimes, even after repaying a loan, the lender might not update the loan status on your credit report. This can negatively impact your credit score and may cause issues when applying for future loans. By regularly checking your active loans, you can ensure that all closed loans are properly recorded, avoiding any misunderstandings with lenders.
5. Legal and tax-related implications
Tracking your loans helps ensure you stay compliant with tax regulations and avoid any legal complications that might arise from unpaid or misreported loans.
Conclusion
Checking active loans on your PAN card is a crucial step in maintaining financial discipline. Whether through credit bureaus, fintech apps, or direct communication with lenders, you can ensure that all your liabilities are properly tracked, prevent fraud, and manage your finances better. This proactive approach helps in keeping your credit health strong, ensuring smooth future loan applications, and avoiding any legal or financial mishaps.
*Terms and conditions apply.
