Get a personal loan but first do a pan card cibil score check

People apply for personal loans for different reasons like to invest in a business, meet unexpected medical expenditures, fund vacations, purchase of luxurious items like a car or getting home renovations done, etc. In other words, personal loan help dreams come true. Different lenders react differently to an applicant’s income, savings, age, credit score, etc. This is because personal loan eligibilities vary from one lender to another. So, before you proceed to press the submit button while applying for it, it is advisable to first run a PAN card cibil score check.

Even the Reserve Bank of India (RBI) has authorised financial institutions to provide a free credit score check at least once a year, but if you wish, you could ask for it multiple times by paying a nominal fee as well. After all, your credit scores are what fetch you the best deals when it comes to getting the loan amount, interest rate, negotiating loan tenure, and even makes you eligible for any additional benefits the lenders may offer.

Your three-digit credit scores are reflection of your ability to repay the debt on time. Hence, it is important to run a PAN card cibil score check to ensure there are no dips in it. So, first, let us get some of our basics straight.

Is PAN necessary to run a credit check?

Your PAN is an essential document if you need a credit, a loan, but it is not necessary if you just have to check your credit score

Is checking credit score via PAN reliable?

Yes. Checking credit score via PAN is very much reliable.  It is your identity. Your 10-digit alphanumeric plastic card is linked with all your financial transactions and is issued to all Indian nationals. 

How does PAN card help in getting a personal loan?

When you apply for a personal loan, your PAN plays a crucial role as all your financial accounts are linked to PAN. It facilitates the credit bureaus to easily tap your details from all accounts – including credits and savings - across the country. So, when you use the PAN to view your Cibil score, ranging from 300 to 900, it fetches all your financial information. This way, the lenders get a fair idea of how reliable or what risk-level you are at when it comes to repayment of the loan amount. Lenders consider scores higher than 750 and closer to 900 as really impressive.

Now, that you have your facts in place get ready to do a PAN card cibil score check and give wings to your dreams with a personal loan.

Stay logged in at https://civilscores.com/check-civil-score-by-pan.