How to Check the Number of Active Loans on Your PAN Card

Are you aware of how many loans are linked to your PAN card? It might seem like something you only need to check once, but staying on top of your active loans is something you should do regularly. With reports of PAN card misuse on the rise, fraudsters are increasingly targeting vulnerable groups—like the deceased, farmers, senior citizens, and students, leading to IT notices ranging from ₹1.3 Crore to ₹12.2 Crore, as reported by The Economic Times on June 18, 2024. These scams make it crucial for you to monitor your loans and avoid any unwanted surprises, like missed payments or a damaged credit score.

Knowing exactly how many loans are associated with your PAN card gives you peace of mind and ensures you're in control of your financial obligations. Regularly checking your loans can prevent over-borrowing, help you stay on top of repayments, and ultimately protect your financial health.

So, how do you check how many loans you have under your name? Don’t worry—we’ll guide you through it with simple, clear steps to keep your finances secure.

Why is Checking Active Loans Important?

You might think your loans are all in order, but there’s more to it than just paying your EMIs. The truth is, anyone with access to your PAN number could, in theory, take out a loan in your name. Fraudulent activities like this are on the rise, so regularly checking your active loans can save you from financial disasters.

Here are some key reasons why you should stay updated on your active loans:

• Fraud Prevention: One of the biggest risks of not monitoring your loans is identity theft. Fraudsters could easily use your PAN to take out loans, leaving you with an unexpected liability. Regular checks help you spot loans you didn’t apply for and prevent further damage.
• Financial Awareness: It's easy to forget about smaller loans or credit lines that you’ve taken out over time. Keeping track of all your active loans helps you stay aware of how much you owe so you can avoid over-borrowing or getting into a situation where your debt is unmanageable. It also helps ensure that you’re not paying interest on loans you’ve already cleared but forgot to close.
• Credit Score Protection: Your credit score reflects your financial health, and missed loans or payments can drag it down. By knowing exactly how many loans are active under your name, you can ensure that you’re staying on top of everything that impacts your score.

Different Ways to Check Active Loans on PAN Card

Checking the loans linked to your PAN card is crucial for managing your finances and protecting yourself from fraud. Here are the most common ways to verify your active loans:

Now that you understand why it's so important and what are the different types, let's dive into the steps to check your active loans linked to your PAN card.

Checking Active Loans Through Credit Bureau Services

Credit bureaus in India like CIBIL, Experian, Equifax, and CRIF High Mark are like the superheroes of your financial world. They keep a detailed record of all the loans and credit you’ve taken. Here’s how you can use them to check for any active loans:

1. Visit the Credit Bureau Websites: Go to the websites of credit bureaus like CIBIL, Experian, Equifax, or CRIF High Mark.
2. Register for an Account: You’ll need to create an account. To do so, enter your PAN card number and basic details like your name and address.
3. Verify Your Identity: You’ll get an OTP on your registered mobile number to confirm it’s really you.
4. Access Your Credit Report: Once your identity is verified, you’ll be able to see a detailed credit report showing all the loans linked to your PAN, including active loans and those that are fully paid off.

By checking your credit report, you can get an overview of your financial situation and spot any discrepancies. The good news? You can even get a free credit report once a year from these bureaus!

Checking CIBIL and Experian Scores

Now, let’s get into the specifics of how to check your loan details with two of the most popular bureaus: CIBIL and Experian.

CIBIL:

1. Create an Account: Head to the CIBIL website (www.cibil.com) and sign up.
2. Verify Your Identity: You’ll get an OTP on your phone for verification.
3. Check Your Dashboard: Once logged in, you’ll be able to see your CIBIL score and all loans linked to your PAN number.

Experian:

1. Visit the Experian Website: Go to the Experian India website and enter your mobile number.
2. OTP Verification: You’ll receive an OTP on your phone to confirm your identity.
3. Review Your Report: After logging in, you’ll be able to see a detailed report showing all active loans under your name.

Using CRIF High Mark and Equifax for Loan Verification

While CIBIL and Experian are the most popular, other bureaus like CRIF High Mark and Equifax also provide detailed loan reports. Here’s how you can use them:

1. CRIF High Mark: To register, you'll need to provide ID proof along with your PAN number. Once registered, you can access your loan details.
2. Equifax: Like CIBIL and Experian, Equifax offers a detailed loan history through its website. After signing up and verifying your identity, you can see all loans under your name.

Each of these bureaus provides a clear and accurate record of your loans, so it’s a good idea to check them regularly.

Checking Active Loans via Mobile Apps

Mobile apps make everything easier, especially when it comes to checking financial information. There are plenty of fintech apps that provide credit services and let you check your loans with ease.

Here’s how you can check your active loans via mobile apps:

1. Register on a Fintech App: Download a trusted Fintech app that offers credit services. These apps provide a convenient way to access your loan data along with other financial services.
2. Complete KYC Setup: To get started, you’ll need to complete the KYC (Know Your Customer) process. This involves providing your PAN number and other personal details to verify your identity.
3. Monitor Active Loans: Once your account is set up, navigate to the loans section within the app. Here, you can check all the active loans linked to your PAN card. Many apps also send you regular updates on your loan status and payments, so you’re always in the loop.

By using these mobile apps, you can easily stay on top of your active loans and ensure your financial health remains in check. Regular monitoring through these apps also helps you spot any discrepancies early and take action before they affect your credit score.

Looking for an income-proof digital lending platform? Check out our guide on the Top 30 Instant Loan Apps Without Income Proof in India.

Reviewing Loan Statements

Regularly reviewing your loan statements—whether physical or digital—is a key step in staying on top of your finances. These statements provide important details about your loans, helping you track your payments and avoid any unexpected issues.

Here’s what to look for in your loan statements:

1. Loan Amount: Your statement will clearly show the total loan amount, helping you track how much you owe and how it’s changing over time.
2. Interest Rates: Pay attention to the interest rates on each loan. This affects how much you’ll pay over the loan's lifetime and can help you assess whether refinancing or paying off the loan early is a good option.
3. EMI Payment Schedules: Your statement will outline your EMI payment schedules, showing when payments are due and how much you need to pay each month. This helps you avoid missing payments and keeps you on track with your repayment plan.

By regularly reviewing these statements, you’ll gain a clear understanding of your active loans, allowing you to stay ahead of your payments and avoid any surprises. Keeping an eye on these details ensures you’re making informed decisions and managing your finances responsibly.

Additional Tips for Managing Loans Linked to Your PAN Card

Staying on top of your loans isn’t just about checking them regularly; it’s also about being proactive in managing your finances. Here are some additional tips to ensure your financial health remains secure and you avoid any unwanted surprises:

• Keep Your Personal Information Safe
  • Always be cautious about where and with whom you share your PAN number. Fraudsters often target people who unknowingly share sensitive information, so protect your details as you would your bank account passwords.
• Set Up Alerts for Loan Payments
  • Many banks and financial apps allow you to set up reminders for upcoming loan payments. This helps you avoid missing EMIs and ensures your credit score stays intact.
• Review Your Credit Report Regularly
  • Just like checking your loans, review your full credit report every 3-6 months to make sure there are no discrepancies or errors. It’s an easy way to catch any fraudulent loans or debts you weren’t aware of.
• Avoid Over-Borrowing
  • While loans can be helpful, taking out too many can quickly become overwhelming. Be mindful of your borrowing limits and only take on what you can afford to repay comfortably.
• Consider Loan Refinancing
  • If you find yourself with high interest rates, refinancing your loans might be a good option. Look for opportunities that help you get the loans into one with a lower interest rate to ease your financial burden.

By following these simple tips, you'll be more prepared to manage your loans efficiently, stay protected from fraud, and maintain a healthy credit profile. It’s all about taking charge of your financial future!

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Conclusion

Now that you know just how important it is to keep tabs on the loans linked to your PAN card, don’t wait for a problem to arise—take control of your financial future today! Regularly checking your active loans not only helps prevent fraud but also keeps you on top of your payments, ensuring you stay in the driver’s seat of your finances.

Want to make this process even easier? With Pocketly, you can track your loans and financial obligations all in one place—no more stress, no more surprises. Stay one step ahead with personalised alerts and a simple, user-friendly dashboard.

Want to take charge of your financial security? Download Pocketly now and keep your loans in check with just a few taps! 

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FAQs

Why is it important to check the loans linked to my PAN card?

Regularly checking your active loans helps you spot any fraudulent loans that might have been taken out in your name, prevents over-borrowing, and ensures you stay on top of your financial obligations.

Can someone take out a loan using my PAN card without my knowledge?

Yes, fraudsters can misuse your PAN card for identity theft, taking out loans in your name. This is why it's essential to monitor the loans linked to your PAN regularly to catch any unauthorised activity.

How can I check my active loans on my PAN card?

You can check your active loans by visiting credit bureau websites like CIBIL, Experian, and Equifax, using mobile apps, or directly contacting lenders or banks through their net banking services.

How often should I check the loans linked to my PAN card?

It's a good idea to check your loans at least once every few months. If you have multiple loans, regular checks help you stay informed and avoid any surprises, like missed payments or incorrect charges.

What should I do if I find a loan I didn’t apply for?

Immediately report any suspicious loans to the lender and the credit bureaus. Filing a police report as you notice the theft might help you take steps to protect your financial information.

What is Pocketly?

Pocketly is a fintech app designed to help you easily track your loans, financial obligations, and credit status in one place. It provides you with regular updates and alerts to keep you informed about your active loans.

How does Pocketly help me monitor my loans?

Pocketly lets you connect all your loans in one app so you can see exactly how many loans are linked to your PAN card. It also sends you timely reminders about upcoming EMIs, helping you stay on top of your payments.

Is my information safe on Pocketly?

Yes, Pocketly uses top-level security protocols to protect your personal and financial information. Your data is encrypted and stored securely, which protects your privacy and safety.