How to check CIBIL Score for free online using PAN number
CIBIL score relates to Credit Information Bureau (India) Limited, licensed by the Reserve Bank of India. The importance of the CIBIL score rises when you apply for a credit score or mortgage. As a result, check cibil score by pan card to see if it needs to be improved. This score further displays your financial condition. The CIBIL score also tells your bank about your credibility and ability to manage funds.
Link of PAN to CIBIL score
When applying for a credit card, the financial institution or the bank checks your CIBIL score, PAN card, and Aadhar card to verify your identity and address. The PAN card is linked to your bank and financial accounts, making it easy for companies to find your information. When you apply for a loan, you must submit your PAN card to the banking institution.
The link between the CIBIL score and the PAN card makes it convenient if you lose the PAN card and get a replacement, your score remains unaffected. But your CIBIL score gets affected if you change your PAN number. This is because your credit score depends entirely on your credit history, which was linked to your last PAN card. If you get a new PAN number, then there are chances that a red flag will be raised on your profile by your CIBIL system.
How to find CIBIL score for free utilizing a PAN card
Once a year, you can view your CIBIL score for free or get a direct subscription to check your credit score frequently. But you can check your CIBIL score by PAN card by following specific steps. The first step is visiting the official website of CIBIL and clicking on “Free credit score.”
The second step is filling in your basic details once the next page opens up. You should ensure that the filled-in information is clear, which may hamper your check. The third step goes together with the second step. When you are filling in your details under the “ID Type,” you would need to select “Income Tax ID number (PAN).” Once this is done, you may enter your PAN number in the field marked as the ID number.
The fourth step is filling in the type of income you get and your present monthly income. In this step, you must provide your correct contact details, such as your email address and mobile number. The last step involves the confirmation of all the information that you provided, and then you may click on “Accept & Continue.”
Once your ID is successfully verified, you may get your credit score in your email address within 24 hours of completing your application.
Impact of linking PAN to CIBIL score
There are some benefits of linking your PAN card to your CIBIL score, which also contributes to checking your CIBIL score by PAN card. First, through your link to your PAN card, it becomes possible to prevent others from exploiting your number, which could result in a fraudulent credit report. This is an issue for individuals who may have never applied for a loan or a credit card.
Further, if you ever need to reach the credit bureau portal, you must prove your identity by supplying your PAN number. Also, the link between the PAN number and CIBIL score makes it possible for credits to be requested at different financial institutions. This link makes it possible for banks to check for any fraudulent activity.
Conclusion
It is a simple process of checking the CIBIL score by PAN card, and it is necessary to have a good CIBIL score in case you need a bank loan. There are various ways to improve your CIBIL score, and constant improvement would contribute to getting a loan quicker. You may check your CIBIL score by PAN card through third-party websites or the CIBIL score app.
