26 February, 2025 | 11:00 IST
Availing a personal loan is no longer a difficult task with the advent of digital lending platforms and instant loan apps. You can access multiple loan offers with just a few clicks, or from your mobile phone. Effectively managing all your credit instruments, including personal loans, could help you maintain a high credit score.
However, many people take multiple loans or credit cards and may lose track of their outstanding debts. Staying informed about the loans under your name ensures better financial management and helps in keeping track of total outstanding debt. Regularly reviewing your loan details and repayment status allows you to avoid loan defaults.
In addition, it is crucial to regularly check your active loans to prevent unauthorised loans in your name. There are several ways to check loans under your name, including accessing your credit report, contacting your bank and using loan tracking services.
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Your PAN card is directly linked to your credit history and report, reflecting all loans taken under your name. Since financial institutions require your PAN for loan approvals, regularly checking for active loans is essential to stay informed and prevent fraud. Keeping an eye on your loans also helps in managing them effectively to maintain a good credit score.
Almost all lenders take into account the credit score and the income level of the borrower before approving a personal loan. So, it’s important to maintain a high credit score. However, multiple loans could negatively impact your credit score.
You can check your credit score for free on the Moneycontrol app and website. This will help you to verify loans on your name and report discrepancies. You can also apply for loans up to Rs 50 Lakhs from eight lenders through Moneycontrol in a completely digital process. The interest rates start at 10.5% per annum.
There are several ways to check loan details under your name. One way is by visiting credit bureaus like CIBIL, Experian, CRIF High Mark, or Equifax and entering your PAN card details to generate your credit report, which will display both active and past loans, including personal loans, credit card debts, car loans and mortgages.
ALSO READ: Credit Report: A step-by-step guide to read credit score report in detail
Another option is to contact your bank or lender and request a loan statement or account summary for detailed loan information.
Additionally, some financial apps and online services also allow you to track all your loans across different institutions, making it easier to monitor and manage your debts in one place. For example, almost all fintech apps such as GooglePay, CRED, Moneycontrol, PhonePe and others have built-in credit check facility. You can simply enter your basic details including your PAN to check all the active loan and credit cards in your name.
Experian, CIBIL, CRIF High Mark and Equifax are the major credit bureaus in India. Banks and lenders use credit reports from these bureaus to verify your creditworthiness and ensure secure financial transactions. These reports include complete loan information, an overview of your repayment history, credit inquiries and credit score.
You can check the active personal loans on your name through the credit bureaus by using personal details like name, address, PAN and date of birth. After sharing details, you can get access to your credit score, which will contain details of all the loans, credit card outstanding and other borrowings you have availed. The report provides comprehensive information about your loans, including their status, payment history, outstanding balances and other relevant details. You can check these details and file a complaint with the credit bureau if you notice any discrepancies.
By keeping track of your loan status using loan tracking apps, bank statements, or credit bureaus, you can efficiently manage your debt and make sure that payments are made on time. This proactive strategy gives you the ability to make wise financial decisions in addition to helping in the maintenance of a healthy credit score. Regularly tracking your credit score also helps to safeguard your money against online financial fraud.
Moneycontrol offers the feature to check the credit score for free through its App and website. You can also apply for loans up to Rs 50 lakhs from eight lenders in a 100% paperless process via Moneycontrol. The interest rates start at as low as 10.5% per annum.
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