How to check an active loan linked to your PAN card: Here are 3 different methods | Mint

In today’s interconnected financial world, it’s crucial to keep track of your financial liabilities. This helps identify any loans registered against your PAN (Permanent Account Number). Monitoring these liabilities not only provides an overview of your credit history but also ensures there are no discrepancies, maintaining the validity of your financial record. In this article, we’ll explore various tools and methods to check the outstanding loans linked to your PAN card.

What are personal loans?

Unsecured personal loans are provided as a lump sum to cover various personal expenses. Unlike secured loans, which require collateral, personal loans are granted based on the borrower’s income, creditworthiness, and ability to repay. These loans offer great flexibility and are typically used for purposes like home improvement, unexpected medical bills, debt consolidation, or personal goals such as education or travel.

How do you check your active loans on a PAN card?

There are three primary ways to check the outstanding loans linked to your PAN card”

• Making use of credit bureau services
• Making use of fintech apps
• Making contact with the lender directly

Let’s elaborate on these

1. Through credit bureau services

Credit bureaus have been respected providers of the actual financial information for many years. Use the procedures below to get a credit bureau to go through your pending loans:

2. Through fintech apps

Fintech apps are increasingly used to manage financial tasks like tracking outstanding payments. To achieve this, use a fintech app:

• Step 1: Download the app and register by adding your KYC details, bank account, and PAN number.
• Step 2: Check your details and login to your account.
• Step 3: Open the app and get into the lending section.
• Step 4: You can view and manage your active outstanding loans when you access the relevant section.

3. Through traditional methods

You can use the lender’s online banking facilities or contact them personally if you prefer more traditional approaches.

In conclusion, you would find keeping a soundtrack of your financial profile quite helpful, starting from looking out for active loans running with your PAN card. If you are pursuing a deep understanding of your credit history, inconsistency finding, and confirmation that the information against your name in financial records is correct, follow the guidelines presented in this article.

(Note: Raising a loan comes with its own risks. So, due caution is advised)