Know How to Check Active Loan on PAN Card

Posted on Friday, July 26th, 2024 | By IndusInd Bank

Your PAN card is more than an identification document. It is also a gateway to understanding your credit health. With your PAN card, you can get valuable insights into your credit history, including details about your active loans. This can help you stay informed about your outstanding debts, repayment schedules, and other aspects of your credit profile.

So, if you are wondering, ‘How to check all of my loan details?’, it is the PAN card you need to turn to. Let’s go through the various methods to check active loans using your PAN card and explain why it is important to do so regularly.

Ways to Check Active Loans Linked to Your PAN Card

There are mainly three ways you can check your loan details using your PAN card: 

1. Via Credit Bureaus

• Credit bureaus like CIBIL maintain detailed credit reports for individuals. These reports include information about all active loans linked to your PAN. 

• You can create an account, verify with OTP (one-time password) and enter your PAN details. Once you create an account, you can view your active loans, credit card accounts, and repayment history. 

• Credit bureaus regularly update their records. Periodically checking your credit report can help you stay updated about your active loans and any changes in your credit status.

 2. By Contacting the Bank

• You can visit the bank where you have taken loans and request information on your active loans. Provide your PAN card as identification to access your loan details.

• You can also reach out to customer service to get assistance to check loan details or to request a loan statement. Provide your PAN and other relevant information to receive a detailed statement of your active loans.

3. Via FinTech Apps

• Nowadays, many FinTech apps offer services that allow you to check loan details online. These apps often integrate with credit bureaus and banks to provide a view of your financial status.

• All you need to do is create an account and enter your PAN to get access to your active loans and repayment history.

Now that you know the answer to, ‘How to check all of my personal loan details?’, let’s see why it is important to do so. 

Why You Should Check Active Loans Regularly?

By checking your active loans regularly, you can enjoy the following benefits:

1. Better Financial Management

Regularly checking your loan details helps in better financial management. You can plan your expenses and savings better when you are aware of your outstanding debts.

2. Avoiding Default

Staying informed about your repayment schedules helps avoid defaults. Making payments on time improves your credit score and helps maintain a good relationship with banks.

3. Detecting Errors

Regular checks can help you detect any errors or discrepancies in your loan accounts. If you find any mistakes, you can report them to the lender or credit bureau to get them corrected.

4. Credit Health

Knowing your active loans and responsibly managing them leads to better credit health. This is crucial when you are applying for credit facilities in the future. 

Also Read: Is Opting for Pre-Closure of a Personal Loan Right Option?

Conclusion

Staying informed about your loan details helps in managing your debts responsibly and avoiding financial pitfalls. It ensures that you are always aware of your financial obligations and can make informed decisions.

To manage your loans more responsibly, consider using the Personal Loan Calculator from IndusInd Bank. It gives an estimate of EMIs based on the loan amount and tenure you enter. 

IndusInd Bank also offers Personal Loans with benefits such as no collateral requirement, easy application and instant disbursal, competitive interest rates, and more. 

Apply for an online Personal Loan and start enjoying these benefits now! 

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.