All the financial organisations check the credit repayment capacity of an individual through their CIBIL score. This score provides information on the credit history, defaults, and timely payments made by them. All these factors play a crucial role in making a person credible enough to take a loan. Therefore, to keep an eye on one’s credit score, they need to know different ways to check the Credit score for free.
There are various ways to perform a credit check. However, CIBIL score check free online by PAN number is one of the easiest ways to do this. Continue reading to know more about this method of CIBIL score check.
What is CIBIL Score?
CIBIL score is a numerical summary of a person’s ability to make a loan or debt payment on time. The RBI has allowed CIBIL to update the credit score of people by considering their financial behaviours every 6 months. This score lies anywhere between 300 to 900, and a higher score makes a person more credible for repaying the loan amount.
CIBIL Score Check Free Online by PAN Number
As the CIBIL score plays a crucial role in making you credible enough to get a loan, it is essential to keep checking it on a timely basis. For Credit score, check free online by PAN number you need to follow the steps mentioned below:
- Visit the official Credit score login site.
- Search for the free credit score tab and click it.
- Further, on the new page, you need to fill in the details like name, email address, mobile number, etc. Here you must ensure to give the registered mobile number to get the OTP for completing the CIBIL score login procedure.
- For ID proof, you need to upload a Voter ID, PAN number, DL number, Ration card number, or Passport number.
- After providing all the required details, you need to press the ‘Accept and Continue’ button.
- Afterwards, you will receive a system-generated OTP on your mobile number.
- You need to fill the OTP on the website and press the ‘Continue’ button to get the Credit score check free online by PAN number.
Importance of ID Proof for CIBIL Score Check Free Online by PAN Number
It is crucial to fill in the PAN card details during the CIBIL score login process due to the following reasons:
- The PAN card is linked with all the bank accounts and helps get all the financial information.
- The PAN card assists credit bureaus in finding out the financial behaviours of people more accurately.
What is Meant By a Good CIBIL Score?
When you do a Credit score check free online by PAN number, you will find out that your score ranges between 300-900. A score that is more towards 900 is considered efficient enough for getting a new loan or debt. Generally, financial institutions consider people with a score above 650 credible enough to repay a debt amount.
The following table demonstrates CIBIL scores and their credibility:
| CIBIL score | Credibility |
| 750 to 900 | Very good |
| 650 to 749 | Good |
| 550 to 649 | Average |
| 300 to 549 | Below average |
Conclusion
Your credit score is essential for convincing debt providers to take a new loan. Therefore, you must perform a timely credit score check to understand the effects of your financial behaviour on your score or to point out an error in the credit report. If you find any fault or inaccurate entry in the report, you must take necessary measures to inform the authority to do the corrections by providing legitimate documents.
However, you must note that your latest credit-related steps might take nearly 45 days to reflect in the CIBIL report. Therefore, you must wait for at least a month and a half to see an update in your score, and if it still doesn’t show any information, you must report it to the bureau.
