In today’s digital era, where taking online loans has become extremely easy, the risk of document misuse has also increased. Your PAN card (Permanent Account Number) is not untouched by this risk. What if there’s a loan running in your name and PAN card that you aren’t even aware of? This concern is valid, as cases of fraud are constantly emerging.

To protect yourself from fraud and to find out whether any active or unauthorized loan is linked to your PAN card, you can use some simple methods. Being cautious is a necessity today, and performing this check is crucial for your financial security.

Why is the PAN Card So Important?

The PAN card is a unique 10-digit alphanumeric number issued by the Income Tax Department. It is extremely important and almost mandatory for financial transactions in India. Whether it’s opening a bank account, making a large investment, or taking out a loan, a PAN card is required.

Your PAN card helps in keeping a record of all your financial activities. When banks and other financial institutions provide you with a loan, they link this information to your PAN card and report it to credit bureaus (like CIBIL). The PAN card acts as a central identifier through which the Income Tax Department and financial institutions can track your transactions. For this reason, checking the status of active loans on your PAN card is necessary, so you know which loans are registered in your name.

How to Check Active Loans Linked to Your PAN Card?

To check for any active loans linked to your PAN card and to ensure there’s no fraudulent loan, you can adopt these 3 main and reliable methods:

1. Making Use of Credit Bureau Services:

   Credit bureaus like CIBIL, Experian, Equifax, and TransUnion are key institutions that maintain information about your financial health and loan history. Your credit score and report are with them. This report includes detailed information about all your active and closed loans, credit cards, and other financial liabilities linked to your PAN card. Any fraudulent loan will also show up here first.

   • Method:
     • Visit the official website of any recognised credit bureau (e.g., Cibil.com).
     • Register as a new user (if you don’t have an existing account). There might be a fee to view the credit report, although, as per Reserve Bank of India (RBI) guidelines, you can obtain one free credit report annually.
     • During registration, accurately fill in your name, address, PAN card number, and other required information.
     • An OTP (One-Time Password) will be sent to your registered mobile number or email; enter it to complete the verification process.
     • After verification, you will be able to view your credit report. In the ‘Loans’ or ‘Accounts’ section of this report, you will find detailed information about all active loans running in your name.

2. Making Use of Fintech Apps:

   Nowadays, many fintech apps (like PhonePe, Paytm, Google Pay, or specialized credit score checking apps) are available that simplify financial management. Some of these apps also provide the facility to check your credit score and view information about active loans linked to your PAN card. These apps often retrieve data from credit bureaus and display it in a convenient format.

   • Method:
     • Download a reputable and secure fintech app from the app store on your smartphone.
     • Register in the app using your KYC details, bank account, and most importantly, your PAN card number.
     • Confirm your details and log in to the app.
     • Go to sections within the app like ‘Credit Score’, ‘Loans’, or ‘Financial Report’.
     • Here you will see a list of all active and pending loans linked to your PAN card.
     • Caution: Always use only trusted and highly-rated apps and ensure they follow secure data handling policies.

3. Making Contact with the Lender Directly:

   If you suspect a particular bank or Non-Banking Financial Company (NBFC) might have issued a loan in your name, or if you prefer a traditional method, you can contact them directly. This is also useful if you see a loan in your credit report or fintech app that you don’t recognise.

   • Method:
     • Visit the branch of the concerned bank or financial institution, contact their customer care, or use the contact details provided on their official website.
     • Provide them with your full name, PAN card number, and other identification details if possible.
     • They will verify your identity (e.g., by asking for OTP, ID proof).
     • After verification, you can ask them for information about all active loans linked to your PAN card. They will tell you if any loan has been issued from their institution in your name.
     • Via Online/Mobile Banking: If you are a customer of that bank, you can also log in to their online banking website or mobile app and check the ‘Loan Section’ for the status of your active loans. For this, you will need to use your bank account and PAN details.

Conclusion:

Using these methods, you can easily find out if there is any active loan on your PAN card, and most importantly, if there is any fraudulent loan running. It is extremely important for your financial security to regularly check your credit report (e.g., every few months). This not only helps protect you from fraud but is also useful in understanding your credit score. If you see a loan that you did not take, immediately inform the concerned bank, credit bureau, and even the police, and take necessary action. Your vigilance is your safety!