Check Cibil Score By PAN Card

A three-digit number represents your credit report, called a “CIBIL Score” in India; it is linked with your Income Tax Permanent Account Number (PAN). Three hundred is the lowest possible CIBIL Score, and 900 is the highest. Therefore, the closer your CIBIL score is to 900, the better it is. However, if your credit score is below 300, your credit requests are less likely to be approved. This is why checking your CIBIL score using PAN card details at regular intervals is important.

You can do it easily online if you want to check your CIBIL Score with PAN Card. Continue reading this article to learn how to check CIBIL Score online using a PAN Card. Remember to check CIBIL with your PAN card before applying for any loan. A negative credit score can seriously impact your chances of getting a loan or a credit card from any institution.

What does CIBIL stand for?

CIBIL is an abbreviation for “Credit Information Bureau India Limited” (also called TransUnion CIBIL). It is a company in the business of managing and keeping credit records of various enterprises and individuals. Lenders use these records to determine whether or not to give out loans. CIBIL receives credit data from banks and other lending institutions, which helps it determine the credit score of an individual or a business.

How to check your CIBIL Score online by using PAN Card?

While many platforms will help you check your CIBIL Score by using your PAN Card, you can check your real-time CIBIL score on the organisation’s official website. For online CIBIL score checking using your PAN Card before applying for a loan, follow the steps given below:

1. Visit the official CIBIL website – https://www.cibil.com. 
2. Click on the banner button at the right-hand corner of the page where it says “GET FREE CIBIL SCORE & REPORT.”
3. There are two options for you – to get an annual CIBIL score free online and to buy paid membership plans to check your CIBIL score with PAN Card monthly. Select the subscription option of your choice.
4. For either case, you need to register on the website by providing your email ID (it will be your login ID), PAN/other government ID details, and mobile number.
5. Choose your PAN Card as your Government ID and add your PAN details.
6. Enter the above-mentioned details and create a password for your account.
7. Click on the “Make Payment” option and pay as per your chosen subscription plan
8. After making the payment, you can easily log in to the website with your email ID and password to check the CIBIL score by PAN Card. You can also log in through an OTP received on your registered mobile number.
9. After logging in, enter all the details required and click on “Submit.”
10. On the next pages, you will be able to see the CIBIL Score.

How is a PAN Card vital to check the CIBIL Score?

A PAN card has a 10 digit alpha-numeric code which is different for every person. The PAN number is now linked with all our bank accounts and is also required to carry out any other financial activities. The PAN Card is important to check your CIBIL Score because:

1. It helps in finding the credit history and related information of the loan applicant.
2. It is the most credible and authentic way of checking the credit information of a person.
3. The agencies can also find out your debt-to-income ratio using your PAN details. A debt-to-income ratio is vital to indicate a CIBIL Score.
4. The agencies will also be able to locate the type of inquiries made against an applicant by using the PAN card details.

How can you check your CIBIL Score without PAN Card?

In case your PAN Card is not available with you but you need to check your CIBIL Score, you may use:

1. The identification number on your Passport,
2. Voter ID
3. Driver’s License number.

Please note you cannot check your CIBIL Score using an Aadhar Card.

CIBIL Score Range

A CIBIL score is crucial for lenders when assessing the creditworthiness of individuals applying for business loans. A poor credit history signifies higher risk, while a good CIBIL score indicates a lower risk. The table below illustrates the CIBIL score range, showing the likelihood of getting approved for a line of credit:

CIBIL Score	Creditworthiness	Loan Approval Chances
300 – 549	Poor	Very Low
550 – 649	Fair	Low
650 – 699	Average	Moderate
700 – 749	Good	High
750 – 900	Excellent	Very High

Effect of PAN Card Change on your CIBIL score

Changing your PAN card does not directly affect your CIBIL score. However, since the PAN is linked to your credit history and the documents used to calculate your credit score, it is essential to update your PAN details with your bank and other financial institutions if you make any changes. Failure to do so may result in inaccuracies in your credit records, potentially harming your CIBIL score.

Creditors primarily assess your CIBIL score to evaluate your suitability for loans. Maintaining an excellent credit score is vital for quicker approvals and disbursement of business loans. Always inform the credit bureaus of any changes to your PAN to keep your credit history accurate and up-to-date.

Applying for loan after checking your CIBIL Score

Before applying for a loan, you should calculate your CIBIL score to gauge your credit standing. A higher credit score enhances your chances of faster loan acceptance and can secure better business loan interest rates. If your credit score is below the desired range, work on improving it by paying off existing obligations, making timely payments, and reducing credit utilisation.

Once your score is favourable, proceed with the loan application. Lenders will review your credit history to determine your eligibility for a business loan. By taking the time to improve your CIBIL score, you approach the loan process with confidence, knowing that your credit profile is strong. A high credit score not only boosts your chances of acceptance but also grants you greater negotiating power regarding loan terms, interest rates, and repayment schedules.

Conclusion

A strong CIBIL score is essential for securing favourable terms on business loans and achieving better interest rates. To ensure a high credit score, regularly calculate and check your CIBIL score, and make timely payments to maintain a positive credit history. Remember that changing your PAN card does not directly impact your CIBIL score, but keeping your PAN details updated is crucial. By understanding your credit score ranges and taking proactive steps to improve your credit profile, you enhance your chances of obtaining the best loan offers.

FlexiLoans is an online lending platform established to help small and medium-sized enterprises (SMEs) access fast, flexible, and sufficient funding for expansion. They provide quick and hassle-free business loans, MSME loans, and short-term loans with the least collateral at the best rate of interest available in the market. You may get a free monthly CIBIL score check with just your PAN card number at FlexiLoans.

Frequently Asked Questions:

Q.1 What is the official website of CIBIL?

Ans: The official website of CIBIL is www.cibil.com/

Q. 2 I have just got a new PAN card; what will be my CIBIL Score?

Ans: For those who have recently received a PAN Card and have not applied for a credit facility yet, the status of their credit profile would be ‘New to Credit.’ Thus, in this case, no CIBIL Score would be issued to you.

Q. 3 How can I get a Credit report if I do not own a PAN Card?

Ans: Having a PAN Card is a must for availing of loan facilities. No bank, NBFC, or lender would give a loan to someone without a PAN Card. Thus, you will not be able to access the Credit Report.

Q. 4 If I lost my PAN Card, will my CIBIL Score be affected?

Ans: No, there will be no effect of losing your PAN Card on your CIBIL Score as your PAN Number will remain the same.

Q. 5 How can I check my CIBIL score without registration?

Ans: To check your CIBIL Score without registration, you can log in to the official website of FlexiLoans and move to the CIBIL Score option. Then, enter your PAN Card number and other details & submit. You will get to know your CIBIL Score.