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.
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 login 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?
Why Use PAN Number to Check Loan Details?
Benefits of Using PAN Card for Monitoring Loan Status
Having a PAN card can help you monitor your loan status easily. It is important to keep an eye on your loan account. Let’s understand why using a PAN card is the best option.
Good Credit Health
Lenders assess you for future loans based on your credit score. Monitoring loans via PAN can provide accurate statements, helping maintain a good credit score.
Identifying Fraudulent Activities
PAN monitoring helps detect suspicious activities and protects against unauthorized loans by safeguarding your identity and information.
Aware of the Loan Details
Since PAN is a legal document, loan details update automatically with lenders. Tracking your loan provides accurate status and closure information.
Financial Planning
Knowing your loan status aids in budgeting and saving, helping create a better financial plan to avoid penalties and maintain financial health.
Start Monitoring Your Loans with PAN
Stay informed and secure by using your PAN card for loan tracking. Keep your financial profile healthy and updated.
Online Methods to Check Loan Status by PAN
You can check your loan details by several online methods using your PAN number:
Official Website: Customers can visit an official online website where they can login with their password and view their loan details using their PAN number.
Download Official App: Customers can also download the official app from Play Store/Apple Store, which is easy to use and helps to check the loan status just by entering the PAN number.
Email and SMS:Â Customer service email IDs are provided on official websites, which allow individuals to request loan details. Similarly, they can request information through SMS with their PAN number.
Customer Service Portals:Â Companies 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 official company’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
Why Tracking Your Loan Details is Crucial for Financial Health
Regularly checking your loan details can help you stay on top of your finances, avoid errors, and maintain good credit health. Here are the key benefits you can enjoy.
Financial Management
Track your repayment schedule and outstanding balance to ensure effective financial planning and avoid surprises.
Error Detection
Spot errors in your loan statement early and take prompt action to get them corrected for accurate records.
Timely Payments
Never miss a payment deadline, helping you avoid late fees, penalties, and negative impact on your credit score.
Credit Health
Maintain a good credit score by staying on top of payments and avoiding defaults, which benefits your future borrowing.
Keep Your Loan Details in Check for Financial Success
Stay proactive with your loan management and improve your creditworthiness.
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.Â
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.
