Reasons to Check CIBIL Score by PAN Card

Everytime you are doing something, ask yourself why are you doing it. There are reasons behind every single step we take which affects the final output. In your day-to-day life, when you in need and decide to take help from someone, that person according to you is trustworthy.

Similarly, when it comes to finances, trust is the most important thing. Once you have got it, your second preference is the procedure. You obviously prefer the time-saving option. When you want to check your credit score, you want to have it instantly with least steps involved. Checking it by PAN card is the currently trending for the same reasons. There are websites that give you the option to check CIBIL score by PAN card within a few minutes and get the detailed report as well.

How Can You Check CIBIL Score by PAN Card

You can now check your CIBIL score online with PAN card. The steps involved in the procedure are as follows:

• Provide your full name as mentioned on the PAN card
• Enter your Date of Birth
• Choose the gender you belong to
• Mention your PAN card number
• Enter your contact address
• Provide the email ID fn which you want to get the credit report
• Enter your mobile number
• Submit the form

How is CIBIL report generated?

The report is generated by considering the following details of an individual:

• Personal details of an applicant (name, age, gender and address)
• Employment details and earnings
• Number of hard inquiries made by potential lenders on receipt of the loan/credit card application
• Record of previous and current loans along with the payment record
• Any defaults on a loan
• The details of settled loans, if any
• Total credit limit and the amount spent monthly (Credit Utilisation Ratio)
• Any credit card payment defaults
• Credit score

What are the benefits of checking score online

Be it any facility, if it is available online, it's more useful and preferred. Similarly, when checking your CIBIL online is an option, who wouldn’t opt for it? Below are the benefits of using the online option:

• It saves your time
• It is quick
• It can be done with simple details like PAN 
• It can be done anytime and anywhere
• Some websites provide the facility for free
• You can get CIBIL score and report online at your email ID
• What is the minimum CIBIL score required for loans?

You must have either applied for a loan or may need it in the future. For your information, you should know that lenders ask for credit score to track your repayment history. For this, they would get your credit report and CIBIL is the most preferred company for this. Both lenders as well as the consumer wishes that his or her minimum CIBIL score for loans and credit cards with lower rates. So, if you manage to maintain a score of 750 or above, you are most likely to get approval for most of the cards and loans. With the above information, you must have got the idea that checking CIBIL score by PAN is quite easy and can be done at any point of time. So, if you have any plans to applying for a loan or credit card recently or just want to know where your credit history stands, go to any authorized website and check it today!