Getting a loan is no longer a tough procedure. Even if your documentation is perfect, getting a loan is difficult. At the same time, you cannot even consider getting a loan if you do not have the necessary documentation.
Even if you are a little late, provided you have the necessary paperwork, you can receive a loan. A PAN card can also be used to get a loan. Customers must submit specific documentation to the bank to apply for a personal loan.
PAN Card Loan
A PAN card is an identification card that has a ten-digit code that serves as a unique identifying number. People can obtain a personal loan using a PAN Card, according to the Indian government’s current KYC standards. One of the primary documents necessary to apply for an instant personal loan on your PAN Card.
How to Apply for PAN Card Loan
The application for a personal loan using your PAN card is simplified. Below are the steps to follow:
- First, visit your bank’s official website (where you want to apply).
- Check to see whether you fulfil the personal loan eligibility requirements.
- After you have verified your eligibility, complete the online application form with basic personal and financial information.
- Including the loan application fee. Previous to that, you should research the lender’s loan interest rates. If you wish to estimate your EMI, you may use the personal loan EMI calculator.
- Submit the required documentation online.
The bank’s administration staff will process your application, and your loan will be approved shortly.
How to get Loan without PAN Card
A PAN card is required when applying for loans. Bankers can use your PAN card to identify your financial situation, repayment ability, and any previous defaults. But, there is other acceptable documentation that you may present in replacement of a PAN when applying for a loan.
To apply for an online loan without a PAN card, you must be qualified. To do so, check to see if you have the following:
- Verify Your Eligibility: The first step is to visit the bank’s website or mobile app. They will instantly notify you of your eligibility when you provide the relevant information.
- Select Your Loan Paln: After confirming your eligibility using the choices provided, you may select your loan amount and payback duration.
- Upload Necessary Documentation: Following the loan tenure, you must upload each needed document online for verification.
- Transfer of a Loan to Your Bank Account: If you are chosen and eligible, the loan amount will be deposited to your account within 24 hours after loan agreement verification and submission.
Please be reminded:
- After validating your documentation, you must print, sign, scan, and send a NACH form to the lender’s website.
- You will enable the auto-debit option from your bank account, allowing you to pay your EMIs on schedule without any personal action.
- You must verify the loan agreement on the app after you receive your NACH form. Please only apply if you have thoroughly read the terms and conditions.
Can we obtain a loan with our PAN Card?
Yes, you can get an instant personal loan using your PAN and Aadhaar card without putting up any collateral. That isn't all. The documentation necessary for a PAN card fast loan is relatively short, and the interest rates are appealing and reasonable. Let us discuss the necessity for loans and how to obtain them using your Aadhar and PAN.
What are the Documents Needed for an Instant Personal Loan?
Quick personal loans are appealing for a variety of reasons, one of which is the simplified documentation and verification procedure. Standard Chartered requests address and identification evidence while processing this sort of loan.
Address proof documents include a passport, telephone bill, ration card, power bill, driving license, rental agreement, and so on, while identification documents include an Aadhar card, PAN card, passport, voter ID, ration card, and driving license.
Is there a credit score on a PAN card?
You may check your CIBIL score by PAN for free once a year, or several times if you pay the requisite charge. Here are the methods to verify your CIBIL score using your PAN card.
Is it possible to get a personal loan without giving my PAN card?
You cannot get a personal loan without PAN Number, especially if the loan amount requires a high 50,000. Even though, certain lenders, such as IDFC First Bank, offer personal loans to individuals who do not have a PAN Card. Lenders in such conditions need applicants to submit Form 60.
Is it possible to get a mobile phone loan without a PAN card?
You cannot apply for a loan without PAN, which the government uses to monitor financial activities and prevent fraud. Some lenders, however, make loans without requiring a PAN.