It is essential to have details of your credit score while applying for a loan because it is always considered by lenders. It is verified before approving a loan which is completely on your transactional history. Therefore, you must be conscious about the existing loan which is the root cause of the credit score. Because unless you repay responsibly your CIBIL score doesn’t get elevated. Therefore, you must check the loan that you have indeed borrowed or some other has also used your PAN for the borrowing. The current many cases have come to the notice that the PAN number is misused and the person has to suffer with a lower credit score. Therefore, it is easy now to check your existing loan without any difficulties. Let’s know how to accomplish this using your PAN card.
The Process to Check Your Existing Loan
The existing personal loan can be checked through the website of the credit bureau of India where mainly there are TransUnion CIBIL, Equifax, Experian, and CRIF Highmark and all these provide the details of the financial transaction including credit score and details of the existing loan. You can use it to get the details of every loan either small or higher. The process to check the loan is simple and let’s know this in brief.
Checking Loans Through The CIBIL
- Visit the official website of the CIBIL
- Then click on the button “Get Free CIBIL score”
- For new users, if you don’t have an account, open it by using your PAN number.
- Enter the OTP received on the registered number.
- Once your OTP is submitted you can get the existing loan’s details.
You can check the existing loan through the websites of another credit bureau like Equifax, Experian, and CRIF Highmark where you need to go to their website and follow a similar process to get the details of all loans. It will help you get the brief details to protect and preserve your credit score.
Another Option is to Check The Existing Loan
Through the UPI Apps, you can also check your credit score where you need to follow these steps.
- Download the UPI App and register through your mobile
- Enter all the details and get the verification.
- Connect the UPI through your linked mobile number with the bank account
- Go to the App and click on the credit section
- Enter your PAN number and get the details
- Check your existing loan. If there is another loan you have not borrowed, report it immediately.
Through the Lender's Websites
Before applying for a loan, you can also use the lender’s websites where through the website you can check the credit score and existing loan. After that, you will get the approval for the loan.
So, to check your credit score and existing loan, you can also choose these steps for better ideas.
Conclusion
Checking the existing loan is essential considering all the challenges where some fake loans can hamper your credit score. Therefore, you must check your CIBIL and existing loan once at least in a month. There are enormous options to check it, you can check it through the websites of credit bureaus i.e., TransUnion CIBIL, Equifax, Experian, and CRIF Highmark. Apart from that, use the UPI App or lender’s website to check the CIBIL score and existing loan. But always remember that checking your credit score frequently can hamper your score. So, try to check it at least once in a month.
