The loan markets have undergone significant transformations in recent times. The days of lengthy loan applications, numerous document submissions, and anxious waits for bank approvals are behind us.
Now, loan approvals can occur in an instant, directly on your smartphone. However, one major component of these instant loans is a PAN card, which needs to be provided by the borrower as identity proof. PAN card should be connected with your Aadhaar number. It also helps to check active loan for an individual.
While the convenience of instant personal loan is undeniable, it comes with potential risks to your data security. Such frauds with fake website is quite common as you can proceed with the loan application without visiting physically. With much of our sensitive information available online, there is a risk of misuse by unauthorised individuals. A concerning trend in this regard involves fraudsters utilising your PAN card number to obtain personal loan through instant loan apps.
In such situations, often a question arises. “How to check active loan on my name? How many loans do I have on my Pan Card”? Well, Checking active loans in your name technically means checking active loans or credit report such as Cibil score on your PAN card.
Certain instant loan apps have recently been embroiled in controversies related to such fraudulent activities. This has prompted the general public to be vigilant and check for any misuse of their credentials on net banking platform and credit report, specifically loans obtained using their PAN card and registered mobile numbers.
However, without proper guidance or knowledge, it can be challenging to determine whether someone has taken out a loan using your PAN card and mobile number.
In this article, we will explore different methods by which you can check active loans running under your name.
How to check active loans on PAN Card
Understanding How To Check All loan Details By PAN Number
To search for active loans with your bank account, you can use your PAN card in a couple of ways. Here they are:
You can check how many loans you have by using credit bureau services.
You can check active loan account such as personal loans by using web applications of fintech firms. Before you apply for a fresh loan with less interest rate, you can directly reach out to the lenders. They will provide credit reports including cibil report. Some of the details required will be asked by the lender. They will pay the loan money instantly after a successful verification.
Depending on your convenience, you can use either one of the three.
How to Check Active Loans on a PAN Card Using Credit Bureaus
Credit bureaus are well-established and trusted sources of information. They serve multiple purposes, so it’s good to be aware of the available options.
1.CIBIL-
CIBIL is the trusted authority in India for assessing creditworthiness. They regularly evaluate individuals’ financial health and credit report regularly.
It is widely utilized by lenders and financial institutions across the country as a key reference point for determining credit scores when processing loan applications.
With its comprehensive database and robust algorithms, CIBIL empowers lenders to make informed decisions while ensuring transparency and fairness in the lending process.
2.Equifax
Equifax is one of the major credit bureaus for credit scores and reports. They help individuals and businesses make smart financial choices with their reliable platform.
3.Experian
In addition to credit scores and free credit report, Experian, one of the authentic credit bureaus goes the extra mile by offering an array of bureau services to cater to its valued customers and provide free credit report.
These bureau services aim to provide a comprehensive suite of tools and resources that empower individuals and businesses alike. With Experian’s bureau services, you can delve deeper into your credit report, gain valuable insights, and make informed decisions about your financial well-being.
4.CRIF high mark
CRIF high mark, one of the RBI-approved credit bureaus based in the vibrant country of India, has emerged as a trusted provider of essential financial services.
With their expertise in the field, they offer comprehensive free credit reports that enable individuals and businesses to make informed decisions. Moreover, they also extend microfinance solutions tailored to meet the specific needs of various industries.
Now that you know the different credit bureaus available in India, let’s discuss how to check active loans on a PAN card
- First, visit one of the websites that aligns with your preferences and needs
- If you haven’t registered before, the website will guide you through the registration process.
- During registration, you will need to provide information such as your name, PAN number, address proof, and other relevant details.
- Once you have successfully registered, the website will send an OTP to your registered mobile number for verification.
- After confirming your registration, you will be able to check active loan information.
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 once your OTP is confirmed.
How to check credit report using OneNDF platform?
Here’s a simple guide to help you with that:
- Click on the “Check Credit score for free” button to begin your journey with OneNDF or Click here
- Now, Fill the form to generate a free credit report.
- After Submitting, Confirm OTP that you’ll receive on your phone number.
- Download your credit report and check your active loans and loan related transactions.
How to check credit reports using directly with the lenders
Sometimes, the traditional approach can be the most effective way to handle certain tasks. For example, you can speak directly to your lender or visiting them in person when you want to check your active loans.
However, since the process involves personal data, the lenders will cross-check to verify your ownership of the specific loan account. Usually, lenders will ask you for the following information:
- Full name of the individual
- Loan account number or loan statements
- PAN card number
- OTP verification on the mobile number
- ID Proof
As the document list is long, lenders are usually cautious about sharing your personal information. Therefore, it is important to keep a list of these important documents ready in hard copy as well as soft copy if you plan to visit the lender in person.
Conclusion
In conclusion, checking for an active loan in your name can be done by adding few details. You can obtain a copy of your credit report and reviewing it carefully for any mention of loans you may not be aware of such as home loans, loan on credit card account, personal loan or any other loan variants like OD and business loan. You can also contact the customer care of financial institutions such as loan provider directly to inquire about how many loans you have on your pan card.
It’s important to note that having an active loan doesn’t necessarily indicate a problem with your financial standing. However, if you suspect an error or unauthorized loan, it’s crucial to take immediate action by contacting both the financial institution such as respective lender and these four credit bureaus.
Remember to obtain relevant documentation, such as your PAN card, to help verify your identity during this process. Regularly staying informed about your financial obligations and checking your credit report for loan details can help ensure accuracy and protect against potential fraud or errors.
FAQ
How can I check my loan details in PAN card?
As the PAN card is linked to the credit report. It is an overview of your credit history. Your cibil score is summed up in the report, which also lets you look at your entire loan details.
How do I find my active loan?
- Visit the credit bureau’s website.
- Log in with your PAN card and other details.
- Enter OTP to confirm your registered mobile number.
- Download your credit report and check your active loans and loan related transactions.
How can I remove unwanted loan from CIBIL?
To remove your name from the RBI defaulter’s list, contact your bank for an out-of-court settlement. Repay the outstanding loan amount and the case will be withdrawn.
How can I check my personal loan application status by application number?
Go to the nearest branch of your bank. You can now provide your loan application number and registered mobile number to check the application status.
How do I resolve such a fraud on my PAN card?
You have the option to register a complaint with the Cyber Crime cell of your local police. Along with that, you can inform the credit bureau to remove the fraud loan from your records.
