Major financial institutions like Bajaj Finserv allow customers to check their credit score for free on their website
Generating free credit score or CIBIL score and credit report is something you might have heard a lot about. The reason for this is the crucial role your CIBIL score plays in determining your creditworthiness. Lenders check your credit score before making a loan decision. This three-digit number gives them insight into how responsibly you handle credit.
TransUnion CIBIL is one of the major credit bureaus that lenders rely on. Therefore, your credit score is synonymous with your CIBIL score.
Whether you are looking to borrow funds now or in the future, it is important to check your credit report to analyze your credit behavior. With a high credit rating and a good credit history, you can get the desired loan at an affordable price. So, performing a free CIBIL score check and downloading your credit report not only helps you find areas for improvement, but also finds and reports any inaccurate information.
For all these purposes, you can check CIBIL score by PAN card for free and generate your credit file. Read on to find out how and where to do it.
Why is a PAN card essential for checking credit score?
The PAN card is one of India’s main proofs of identity and is linked to all your financial accounts and transactions. With your PAN details, it becomes easier for credit bureaus to access your financial profile. When you enter your PAN number for free CIBIL score verification, it authenticates your details and sends an OTP to your registered number. Only after entering the OTP do you gain access to a CIBIL score and credit report for free. Thus, the process guarantees 100% confidentiality of your financial credentials.
Where can you perform a CIBIL Score Free check?
There are two easy ways, and the first one is to start a free CIBIL score check from the official CIBIL website. This free service is only available once a year. Alternatively, you can obtain unlimited access to your credit profile by subscribing to CIBIL’s monthly, quarterly or annual subscription. Another way to check credit score for free is to use the service offered on Bajaj Finserv. Here you can get your free CIBIL score online with ease.
How to check CIBIL score by PAN card for free?
On the CIBIL website
- Go to the CIBIL website and access the ‘Self Service’ section
- Search for “To get your free annual CIBIL score and report” and click on the link
- Complete the online form and choose the type of identification as “Tax identification number”
- Create your account
- Check your score on the scoreboard
On the Bajaj Finserv website
- Go to the free CIBIL score Web page
- Scroll down and complete the form and enter your PAN card number
- Accept terms and conditions
- Click “SUBMIT” to get your CIBIL score
Frequently Asked Questions (FAQ) about the CIBIL score and report
How do I view my credit report and dispute errors?
Having a detailed look at your credit report to identify errors is important. You can look for the following to raise disputes in your personal or financial identifying information:
- Inaccuracy in name and address
- Credit limit or account balance errors
- Accounts listed that do not belong to you
- Closed debt listed as open
If you find any of the above, report it immediately to CIBIL. It may take around 30 days for them to correct the error.
How can I improve my CIBIL score immediately?
Seeing immediate improvements in your CIBIL score may not be possible. However, a few proven ways to increase your CIBIL score are:
- Correct errors in your credit file
- Do not request multiple loans
- Maintain a healthy credit mix by opting for different forms of credit
- Keep your credit utilization rate below 40%
A PAN card is crucial for any legal or financial transaction, so keep it handy before applying for credit. With a better understanding of how to check free CIBIL score, you can make better use of your credit. Bajaj Finserv offers you a service to check CIBIL score by pan card for free and you also get a personalized credit health report! So, check your CIBIL score and plan your credit wisely to enjoy greater financial independence and lead a stress-free life.