Loan on pan card: Nowadays, cases of loans online fraud and identity theft are increasing rapidly. You must have heard the talk of taking SIM from someone else’s ID, but have you ever heard that someone else has taken money on your PAN card? In such a situation, it is very important to know that someone else has taken a loan in your name using your PAN card. Actually your PAN is directly related to your credit report, and any loan taken through it, whether it is with your consent or without consent, will have a direct impact on your credit rating and your ability to take loans in the future.
Let us tell you how you can find out that no one else has used your PAN card? And if so, what should you do.
1. Regular check credit report
The easiest way to know whether a loan has been taken on your PAN or not to see your credit report. Credit Bureau like CIBIL, Experian, Equifax and Crif High Mark keeps records of all loans and credit cards taken in your name. You can go to their website and certify your PAN and mobile number and request a credit report for free. In this report, check any unknown account or loan record.
2. Keep an eye on these ‘red flags’ in the report
While looking at your report, check the loan or credit cards for which you did not apply. The wrong account number, the name of the unknown lender, or such a new ‘hard engineer’ (when a lender checks your credit) that you did not approve. These are indications that someone must have misused your PAN card. If you see many such records, take action immediately to prevent your credit from deteriorating further.
3. What to do if you get a fake loan?
If you get a fraud loan, immediately inform the lender and the credit bureau that has reported it. Most cases can be registered online by the Credit Bureau. You have to give evidence of identity, facts of related loan and a signed affidavit. In addition, with evidence of misuse of PAN, file a complaint in your local police’s cybercrime cell.
4. How to stop the misuse of PAN in future?
- Never share your PAN card number on unknown sites, apps or WhatsApp forward.
- Do not give it to anyone in public or without any necessary work.
- If your PAN card is lost, apply for the reprint and check your credit report in the next few months.
- Use a strong password for bank accounts.
- Activate SMS/email notifications for loans or credit applications related to your PAN.
Frequently asked questions (FAQs)
1. Can I see the loan information related to my PAN online?
Yes, go to the site of any major credit bureau like Cibil, Experian, or CRIF and request your credit report by entering your PAN. This will show all the loans and credit cards taken in your name.
2. What if someone misuses my PAN to get a loan illegally?
It can damage your credit score and you can also cause problems in getting a loan at your time. You will have to immediately register a case with the Credit Bureau, complain to the lender and file a complaint with the police.
3. How often should I see my credit report?
You should check your credit report every 3-6 months. Checking a credit report on regular basis is a great option to detect fraud and keep your credit score healthy.