How to Check Active Loan on Pan Card?

Mar 29th 2024
Loan
How to Check Active Loans Using Your Pan Card 2024?

Your Permanent Account Number (PAN) card is an essential document, serving not only as a means for the Income Tax Department to track taxpayers but also as a crucial instrument for establishing your identity.

However, like any other product, there are certain risks involved, and PAN cards are not immune to these issues. Recently, there has been an increase in the number of cases where individuals find out that loans have been issued in their names without their knowledge or consent.

Cybercriminals exploit PAN cards and mobile numbers to fraudulently secure loans under the names of unsuspecting victims. As a result, these victims suffer damage to their CIBIL scores when these fraudulent loans remain unpaid.

To protect yourself from potential financial fraud, it is crucial to monitor your active loans through your PAN card. This article will guide you through various methods of checking active loans with the use of a PAN card.

What are the Different Ways of Checking Active Loans on my PAN Card?

Suppose you're interested in finding details about the active loans associated with your bank account and wish to search for them. There are primarily 3 methods to search for an active loan using your PAN card, as follows:

  • Credit Bureau Services - Online
  • Fintech Applications - Online
  • Reaching Out to the Lender Directly - Offline

 

Checking Active Loans on a PAN Card Through Credit Bureau Services- Steps to Follow

Credit bureau services offer a reliable source of information that can be leveraged for various financial purposes. You can verify active loan statuses through the official websites of CIBIL, Experian, Equifax, and CRIF High Mark.

Follow the steps given below to check any active loans on your PAN card:

  1. Visit the official website of the credit bureau that aligns with your needs and preferences, and proceed to register an account.
  2. Enter your details, such as PAN number, name, address proof, etc. Substantiate these details by entering the OTP sent to your registered mobile number.
  3. Once confirmed, you can verify the status of the active loan.

If you already have access to the website, you must log in using your PAN details and name. After OTP confirmation, you will be able to check the status of your active loan.

 

Using Fintech Applications to Check Active Loans on a PAN Card - Here is How to Do It

Fintech applications have transformed financial transactions, making them seamless while also providing effective tools for tracking active loans.

  1. Navigate to the application and complete the registration process by providing KYC details such as your PAN, bank account information, and more.
  2. Ensure all the provided details are correct to gain access to the account.
  3. Navigate to the loan section within the app, click on 'View Details' for the active loan, and manage your account accordingly.

 

Directly Check the Active Loan Status on Your PAN Card

Sometimes, the traditional approach is the most effective way to accomplish tasks. For instance, speaking directly with your lender or visiting them in person can facilitate the process of checking your active loans. 

Given that this concerns personal information, they will verify your identity to ensure that you are indeed the owner of the specific loan account. Lenders will typically request the following information:

  1. Bank account number
  2. Full name of the individual
  3. Loan account number
  4. PAN card number
  5. OTP verification on the mobile number
  6. ID proof

Although the list of required documents may be extensive, lenders are typically cautious when it comes to sharing personal information. Therefore, make sure to prepare a list of these documents in both digital (image) and physical (print) formats, especially if you plan to visit the lender in person.

You may also like: How to Get Personal Loan on Pan Card?

 

What are the Advantages of Checking the Active Loan Status on a PAN Card?

As mentioned above, there are multiple ways through which you can check whether there are any active loans on your PAN card and each method has its advantages. The advantages of checking the active loan status on a PAN card for each method have been discussed in this section. 

Particular Advantages
Through Credit Bureau Services Provides a comprehensive overview of all loans associated with your PAN card
It helps you understand your credit score and maintain good credit health
Through Fintech Applications You can access your account easily via smartphone or computer
It offers a comprehensive perspective on financial activities, extending beyond merely focusing on loans
By Directly Contacting the Lender Get a direct confirmation from the lender
The capability to address precise inquiries regarding your loans

 

How Can I Safeguard My PAN Card Information?

Listed below are some essential tips for you if you want to safeguard your PAN card information from fraudsters:

  • Avoid entering your PAN number on random websites; instead, verify their authenticity. Opt for using less vulnerable forms of identification, like your driver's license or voter ID.
  • Regularly review your financial statements, including bank and credit card transactions, to identify any suspicious or unauthorized activity. Stay vigilant for any transactions that seem unfamiliar.
  • Exercise caution when distributing photocopies of your PAN card, making certain that they are only shared with verified individuals or reputable companies. Always sign and date these photocopies, and meticulously record the locations where you submit them.
  • Ensure the accuracy of your income tax records by logging into the official Income Tax Department website with your PAN card details. Carefully examine your tax filings to pinpoint any discrepancies or unauthorized modifications, particularly in Form 26AS.
  • Ensure you regularly monitor your credit report by requesting a copy from a credit bureau, such as CIBIL. Scrutinize it for any unauthorized accounts or credit applications linked to your PAN card. Should you discover any discrepancies, promptly report them to the credit bureau.

 

How Can I Report the Misuse of My PAN Number?

The Income Tax Department, under the auspices of the Indian Government, has established an electronic portal for filing PAN grievances through the Aayakar Sampark Kendra (ASK). Through this portal, you can report any kind of misuse of your PAN number. 

You just have to follow the simple steps mentioned below. 

  1. Visit the official TIN NSDL portal. On the homepage, locate the customer care section.
  2. Click on the "Customer Care" tab to open a drop-down menu.
  3. Select "Complaints/Queries" from the drop-down menu to open the complaint form.
  4. Please accurately complete this form, detailing the nature of your complaint. Enter the Captcha code, then click on "Submit".

 

To Conclude

With the rise of PAN card fraud in India, you must take every possible measure to save yourself from the trouble of falling into one such trap. You must be vigilant about any activity that involves disclosing your PAN card details. Apart from the pointers mentioned above regarding how you can safeguard your PAN card details, you must stay abreast of all the latest developments as information is key. Even after taking so many precautionary measures, if you find yourself trapped in a PAN-related scam, do not hesitate to contact the concerned officials.  

 

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