How Do I Check All My Loan Details By PAN Number - Easy Steps

July 16, 2024

A Pan card is not just an identification proof but also helps you to check loan details. You can apply for a personal loan and get your loan details using a PAN card. This ensures you have accurate and up-to-date information about your loans. In this guide, let’s learn how to check your details through your PAN number, understand the benefits of monitoring, and get clarity on common issues you might encounter.

Table of Contents

Why Use PAN Number to Check Loan Details?

Having a PAN card can help you to monitor your loan status which is easy to track. It is important to keep an eye on your loan account. Let’s understand why using a PAN card is the best option.

1. Good Credit Health

Lenders will assess you for future loans and credit based on your credit score. By using your PAN card to regularly monitor your loans, you may get accurate loan statements. This will make it easier for you to stay informed about the status of your loan and ensure that any amount that needs to be repaid is done so with minimal errors. In the long run, using your PAN card to monitor and prevent mistakes will help you keep a good credit score.

2. Identifying Fraudulent Activities

With false identities, there is a possibility of stealing loan amounts from your account if you don’t keep a check on it. Keeping an eye on your loan account and monitoring it through a PAN card will help identify any suspicious activities. This way, you can immediately secure your information and identity.

3. Aware of the loan Details

When you use your PAN card to apply for a loan, it ensures that the information is accurately recorded. Since the PAN card is a legal document, the loan details are also automatically updated for lenders and financial institutions. By keeping track of your loan account with your PAN card, you can obtain accurate information about the status of your loan details and loan closure.

4. Financial Planning

You may better understand how much money has to be saved and how to manage your budget by keeping track of your loans with a PAN card. This will guarantee that you create a better financial plan and stay on top of it to prevent any penalties and keep your financial profile healthy.

Step-by-Step Guide to Check Loan Details Using PAN Number

Open the Zype App: Download Zype app and open on your mobile device.

Login to Your Account: Enter your log in ID and password.

Navigate to Loan Section: Select the loan section once you log in.

Choose Loan Details: You will see an option to check loan details. Click on that.

Enter Your PAN Number: In the designated field, input your PAN number.

Verify Your Identity: You might need to verify your identity through an OTP sent to your registered mobile number.

Check your Loan Information: Once verification is done, your loan details will be displayed, including the loan amount, personal loan repayment schedule, and outstanding balance.

Download or Save Statements: You can download or save your loan statements for future reference.

By following these steps, you can easily check your loan details using your PAN number.

Also Read: How to Check and Download your Personal Loan Statement?

Online Methods to Check Loan Status by PAN

You can check your loan details by several online methods using your PAN number:

Official Website: Most lenders have an official online website where customers can log in with their password and view their loan details using their PAN number.

Download Official App: Many lenders have their official financial app, which is easy to use and helps to check the loan status just by entering the PAN number.

Email and SMS: Lenders provide customer service email IDs on their official websites, which help customers request loan details. Similarly, they can request information through SMS with their PAN number.

Customer Service Portals: Many banks and financial institutions have dedicated customer service portals where you can enter your PAN number to retrieve loan information.

Common Issues and Solutions When Checking Loan Status by PAN

1. Not Receiving OTP

Problem: You didn’t receive the OTP while checking the loan information

Solution: Always check if your registered mobile number is active and has a good network connection. If required, request the OTP again.

2. Website/App Downtime

Problem: The lender’s website/app might be down.

Solution: You can try re-entering the details after a while and check later. Look for any maintenance notifications on the website.

3. Mismatched Information

Problem: The information entered does not match the records.

Solution: Ensure that all the information provided, including your PAN number, matches the details registered with your lender. If there are discrepancies, update your records with the lender.

Also Read: How to Check Your CIBIL Score Using Your PAN Card?

Benefits of Checking Loan Details Regularly

Regularly checking your loan details offers several benefits:

Financial Management: This will help you to track your repayment schedule and outstanding loan balance, which ensures good financial planning.
Detecting Error Detection: Checking loan details regularly allows you to spot any errors in your loan statement and this allows you to rectify them as soon as possible.
Timely Payments: This allows you to never miss loan payment deadlines, avoiding late fees and penalties.
Credit Health: This also helps to maintain a good credit score by timely payments and avoiding defaults.

Impact of Loan Status on Credit Score

Your credit score is influenced by the status of your loans. Thus, keeping an eye on your loan information allows you to remain up to date on the loan balance and repayment schedule. On-time payments affect your credit score and enable you to apply for loans in the future. On the other hand, missing or delayed payments might negatively impact your credit score and make it more difficult for you to get credit in the future.

Conclusion

Checking loan details with the help of a PAN number is an easy and secure option. This helps in better financial management and plays a vital role in maintaining a healthy credit score. It is advised to regularly check your loan details to avoid any surprises and allow yourself to financially plan better.

Frequently Asked Questions

Is It Possible For Individuals To Misuse Their Pan Card To Acquire A Loan Through Certain Instant Loan Apps?

Yes, if someone has illegal access to your PAN details and other personal information, they may use your PAN card fraudulently to obtain loans through loan apps. To stop such fraud, it’s critical to protect your PAN card and personal data.

What Methods Can I Use To Identify If Someone Has Used My Pan Card To Secure A Loan?

You can regularly check your credit report and keep an eye on your loan details to spot any suspicious activity. Enable SMS and email alerts which will be linked to your PAN. You can also check your bank statements to see if any money has been taken out without your knowledge. You can also contact the lender to get details about your loan account.

Do Banks Assess My Credit Score For Personal Loans Via My Pan Card?

Yes, banks will request your credit score for urgent personal loans which are linked to your PAN card. The PAN card is a unique identifier that helps banks and credit agencies access your credit history and score.

How Can I Check If There Are Any Active Loans Linked To My Pan Card?

You can track your credit report to get the details of active loans. The credit report shows the credit history and is linked to the PAN card.

Will Checking My Loan Status Using A Pan Card Affect My Credit Rating?

No, checking your loan status using your PAN card will not affect your credit rating.

Why Is It Important To Regularly Check The Active Loans On My Pan Card?

Regularly checking the active loans on your PAN card helps to detect any fraudulent activities and ensures all loan details are correctly recorded. This also helps to manage your finances effectively allowing you to maintain a good credit score by keeping track of your repayment schedules.

How Often Should I Check For Loans On My Pan Card?

Checking your PAN card for loans is advised once every three months at the least. If you have many loans and credit accounts, or if you suspect fraud, you may need to do more frequent checks.

What Should I Do If I Find Discrepancies In The Loan Details On My Pan Card?

You can immediately contact the lender to report the discrepancy and seek clarification. You can also file a dispute with the credit bureau to correct any errors. If you suspect fraudulent activity, report it to the authorities and take steps to protect your identity.

What Are The Implications Of Not Checking Active Loans On My Pan Card?

Unauthorized loans taken out in your name could go unnoticed by you, resulting in monetary losses and potential legal problems. If errors or unauthorized loans are not resolved, they may have a negative impact on your credit score. Being unaware of your current debt obligations can result in bad money management and possible payback defaults.