With the increasing pressure to obtain near-zero defect rates for the automotive industry, there is a need to explore built-in self-test and other non-traditional test techniques for embedded mixed-signal components, such as PLLs, DC-DC converters, and data converters. This paper presents an extremely low-cost built-in self-test technique for PLLs specifically designed for fault detection. The methodology relies on exciting the PLL loop in one location via a pseudo-random signal with noise characteristics and observing the response from another location in the loop via all digital circuitry, thereby inducing low area and performance overhead. The BIST circuit along with a PLL under test is designed in 65nm technology. Fault simulations performed at the transistor and system level show that majority of non-catastrophic faults that result in parametric failures can be detected with the proposed approach.