The loan market has seen drastic changes in recent times. Gone are the days of filling up pages of loan applications, attaching hundreds of documentary proofs, and eagerly waiting for the approval message from the bank. Loan approvals happen in a snap on your smartphone. Instant Loans, just need your PAN number and Aadhaar, and there is your loan, done. 

But as convenient as they are, they are a danger to your data security too. Most of our sensitive information is available on the web and anyone can misuse it casually. And the latest scam in this list is fraudsters using your PAN card number to avail loans on instant loan apps. 

A few instant loan apps have been at the centre of such a controversy in recent times. This has alerted the general public to check if someone is misusing their credentials and taken loans using their PAN card. But, without the right instructions or the know-how, how can one check if someone has taken out a loan using their PAN card? So we put together this simple guide to help you. Read on! 

The simplest way to check if a loan has been disbursed under your PAN card is by checking your credit report

Your credit report will include all the loans and credit cards issued under your name. So you will be able to see if there are any loans that you did not authorize. 

But not many of us check our credit score on a regular basis, do we? It is high time that we made it a habit. Individuals can get one free credit report in one year intervals. And there are 4 credit bureaus in India so you can get 4 free credit reports in a year. Apart from that, many fintech firms like Creditmantri, Paisa Bazaar, Paytm, or even your bank, offer a free credit report once a year. Make use of these facilities to stay updated of your credit score, report and history, and prevent any kind of fraud from happening using your personal details. 

Is It Safe To Check My Credit Score On Third-Party Websites?

While you may obtain your credit score from any of the four credit agencies, checking it on third-party websites is more convenient because the process is simple and painless. Furthermore, credit agencies only send your credit score and report for free once a year. If you wish to see your credit report from credit bureaus many times, you may have to pay a fee. Third-party financial websites, on the other hand, provide your score for free all year.

Since it is a third-party, you may be concerned about the security of your personal information, as well as how they obtain your credit score from the bureau. Each website has a relationship with one of the four credit bureaus and obtains your credit score from their records. Third-party websites confirm that it is absolutely safe, and you may check it as many times as you like for free.

Most people are wary that monitoring credit scores on these websites will lower them. Your credit score is only impacted if a lender examines it when you apply for a loan or credit card. When you check your credit score on these platforms, it is considered a soft inquiry and has no effect on your credit score. So it is absolutely safe to check your own credit score using trusted third party providers. Check your credit score on Creditmantri now! 

What Should I Do If I Find An Error Or Incorrect Credit Details On My Credit Report?

If you discover an error on your credit report, you should dispute it right away. You have the option of contacting both the credit bureau and the creditor or organization that gave inaccurate information. Explain in writing what you believe is incorrect and why. To repair errors, it is always best to contact both the credit reporting company and the source of the error. Contact the source of the error and submit a complaint with the lender. Correct the information, and then check your credit report to determine if the errors have been addressed. The lender should transmit the updated information to the credit bureaus as quickly as possible so that they can amend it.

Register a complaint with the credit reporting company as well as the lender, using the same corroborating proof. You can register a dispute online at the websites of each credit reporting firm. You can also file a dispute via mail. In such a scenario, your dispute letter should include your full name, address, and phone number, as well as the account number for any accounts you are contesting.

If the mistake is with a specific account, you can potentially begin the procedure by contacting the creditor to resolve the issue. Whether you submit your dispute with the lender or the credit bureau, they normally have 30 to 45 days to examine your claim and issue you a written notification after their investigation is complete. If the information changes as a consequence of the dispute, the lender is required to notify the credit reporting agencies.

Prevention is always better than cure! Protect your sensitive information. Do not share such information with anyone you find suspicious. Research a bit on online shopping websites or fintech apps before you submit your personal information on them. If you find that you have been defrauded, register a complaint with the Cyber Crime cell of your city immediately. 

If all of this sounds too complicated and time-consuming, you can seek the assistance of professional credit restoration services such as CreditMantri. CreditMantri can assist you with coordinating with credit bureaus and filing a dispute on your behalf. We also follow up with the lenders directly, with your permission. We have a clear, customer-focused proposition that assists people in making better credit decisions.


Fraudsters are constantly trying to steal your data and misuse them. Using a PAN card to get instant loans is a novel idea doing the rounds. As a consumer, you have to protect your data from frauds, especially when it comes to money.

If you find any disputes on your credit report, you should try to settle it as early as possible. CreditMantri offers credit score repair services that can make this process a whole lot easier.

FAQs Of How To Check If Someone Has Taken Loan Using Your PAN Card?

1: Can anyone misuse my PAN card and get a loan? 

Yes, fraudsters can use your PAN card and get a loan on some instant loan apps. 

2: How will I know if a person has misused my PAN card to get a loan? 

You can find it on your credit report. That is why experts suggest you check your credit score and credit report regularly. 

3: How do I resolve such a fraud on my PAN card? 

You have to register a complaint with the Cyber Crime cell of your city immediately. Also, inform your credit bureau to remove the fraud loan from your records. 

4: Which are the 4 credit bureaus in India?

The 4 credit bureaus are - CIBIL, Equifax, Experian and CRIF High Mark. 

5: Will the fraud loan impact my credit score? 

Definitely. While the loan is still under your account, it will affect your credit score. More so if it is left unpaid for a long time. So consumers have to be alert and nix such frauds at the very beginning. Though there are strict cyber-crime laws, lack of awareness and hesitation from consumers to register these complaints is only encouraging these crooks to roam free.