Understanding your CIBIL score is crucial when managing your financial health. Your CIBIL score reflects your creditworthiness, helping lenders assess your ability to repay loans. If you’re planning to apply for a loan or credit card, it’s a good idea to check your CIBIL score. One of the easiest ways to do so is by using your PAN (Permanent Account Number) card.
What is a CIBIL Score?
A CIBIL score is a three-digit number ranging from 300 to 900, representing your credit history and repayment behaviour. The closer your score is to 900, the better your credit profile is considered. A high CIBIL score increases your chances of loan approval and better interest rates, while a lower score may result in loan rejections or higher interest rates.
Why Do You Need a PAN Card to Check Your CIBIL Score?
Your PAN card is linked to your financial activities, such as income, tax filings, and credit transactions. Credit bureaus use your PAN card details to fetch your credit report. This linkage ensures accurate identification and retrieval of your credit history.
Here’s how you can check your CIBIL score for free using a PAN card.
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Steps to Check CIBIL Score by PAN Card
You can check your CIBIL score online through various platforms, in addition to the CIBIL’s official website.
Here are the step-by-step methods:
Using the Official CIBIL Website
You can also check your CIBIL score directly on the official CIBIL portal by following these steps:
- Go to www.cibil.com
- On the homepage, click on ‘Get Free CIBIL Score & Report’
- Register for a new account if you’re a first-time user. If you already have an account, log in.
- Provide your name, date of birth, contact number, and email address
- In the ID Type dropdown, choose ‘Income Tax ID Number (PAN)’option and input your PAN number
- Read and agree to the undertaking mentioned, then proceed
- Once your details are verified, your CIBIL score and report will be displayed
Using Bajaj Markets
Bajaj Markets offers an easy way to check your CIBIL score using your PAN card. You will need to enter your personal details, including your full name, mobile number, date of birth, email ID, residential pincode, and PAN card information. You will receive your CIBIL score and report. This process is straightforward and allows you to monitor your creditworthiness effectively.
General Ways to Check CIBIL Score by PAN Card
In addition to specific platforms like Bajaj Markets or CIBIL’s official website, several other financial institutions and third-party websites also allow you to check your CIBIL score using your PAN card. These platforms usually require the following steps:
- Visit the chosen website
- Look for the ‘Check CIBIL Score’ option
- Fill in your details, including your PAN card number, name, date of birth, and mobile number
- Verify your identity through an OTP sent to your registered mobile number
- Receive your CIBIL score and credit report
While using third-party platforms, ensure they are authorised and secure to protect your data privacy.
What to Keep in Mind When Checking Your CIBIL Score
● Entry of Correct Details
Double-check the information you provide, especially your PAN number, name, and date of birth. Incorrect details may lead to errors or delays in fetching your score.
● Frequency of Checking
You can check your CIBIL score once a year for free through CIBIL’s official portal. Frequent checks from authorised platforms will not impact your score.
● Data Privacy
Always use reliable and secure platforms to avoid misuse of your sensitive information
Benefits of Knowing Your CIBIL Score
● Improved Loan Applications
A good CIBIL score improves your chances of loan approval and better interest rates
● Better Financial Management
Regularly checking your score helps you monitor your credit health and make timely corrections
● Error Rectification
Reviewing your credit report can help identify discrepancies, allowing you to raise disputes and correct them
Conclusion
Checking your CIBIL score using your PAN card is a straightforward and essential process to maintain your financial health. Bajaj Markets makes it convenient and free of charge.
FAQs About Checking CIBIL Score Using PAN Card
1. Can I check my CIBIL score without a PAN card?
Yes, other documents like passport or voter ID can be used. However, a PAN card is the most commonly used identifier for credit checks.
2. Is it safe to check my CIBIL score online?
Yes, as long as you use authorised platforms like Bajaj Markets or the official CIBIL website, your data remains secure.
3. Does checking my CIBIL score reduce it?
No, checking your score through authorised platforms for personal review is a soft enquiry and does not impact your score.
4. How often should I check my CIBIL score?
It’s advisable to check your CIBIL score at least once every few months or before applying for any credit product.