Personal Loan Without PAN Card 2024: A sudden need for a loan can arise at any time. These days, if you have a good credit score and documents like PAN card and Aadhaar card, you can easily apply online and get a loan instantly. It doesn’t take much time, as the entire service has gone online. However, there are some citizens who do not have a PAN card.
A sudden need for a loan can arise at any time. These days, if you have a good credit score and documents like PAN card and Aadhaar card, you can easily apply online and get a loan instantly. It doesn’t take much time, as the entire service has gone online. However, there are some citizens who do not have a PAN card.
Personal loan without PAN card 2024
Without a PAN card, you can’t get a very big loan. In general, you can get a loan ranging from ₹5,000 to ₹50,000 without a PAN card. But typically, for loans above 50,000, you need a PAN card. So, if you need a small loan, you can apply and get it without a PAN card. Any citizen of India can get a loan without a PAN card.
If you lose your PAN card or haven’t gotten one made, we will give you information on how you can still get a loan in that situation. You can take the advantage of getting a loan without a PAN card by applying online from the comfort of your home, without going to the bank.
Personal Loan Without PAN Card For Eligibility
- Any citizen residing in India can get a loan without having a PAN card in this way.
- The minimum age to get a loan without a PAN card must be 18 years.
- Maximum age cannot be more than 60 years.
- If you want to apply for a loan, you must have a salaried job.
- Your monthly salary must be at least 15,000.
- Along with this, when your CIBIL score is checked, it must be more than 750, otherwise you won’t get a loan.
Documents Required
- Aadhaar card
- Voter card
- Electricity bill
- Certificate
- 3 months bank statement
- Bank account details
- Passport size photo
- Mobile number
- Email ID
Personal Loan Without PAN Card Is Important
Sometimes in our daily lives, we suddenly need a larger amount of money. Borrowing from friends and relatives is not always appropriate. In this situation, you can solve this problem by taking an instant loan. That’s why people who do not have a PAN card can apply for a loan. You don’t even need to go to the bank for this. By taking a loan in this way, you can cover expenses for shopping, weddings, business, or paying school or college fees.
How to Apply Online?
If you want to get a loan without a PAN card, you’ll have to follow the step-by-step process we’re explaining below.
- Visit the official website of the NBFC company or the bank from which you want to apply for a loan without a PAN card.
- You can also apply through the mobile application if you prefer.
- After coming to the home page, you will need to go to the personal loan section.
- Here you need to select a loan amount of ₹50,000 or less.
- When you’re asked to verify the KYC documents, you need to enter your Aadhaar card number.
- An OTP will come to the mobile number linked to your Aadhaar card which you need to enter
- After the verification of your application form is complete, the loan amount will be credited to your bank account.
Conclusion
In 2024, obtaining a personal loan without a PAN card remains a challenging but not impossible task. Lenders typically require a PAN card as it serves as a crucial identification and verification document, essential for tracking financial transactions and ensuring compliance with regulatory requirements.
- However, certain financial institutions and alternative lending platforms may offer solutions for individuals lacking a PAN card. These options might include:
- Alternative Identification Documents: Some lenders may accept other forms of identification, such as Aadhaar cards, voter ID cards, or passports, especially if the loan amount is relatively small.
- Secured Loans: Providing collateral, such as property or fixed deposits, can sometimes offset the need for a PAN card as it reduces the lender’s risk.
- Banking History and Credit Score: A strong banking history and a good credit score can sometimes persuade lenders to offer loans without a PAN card. Demonstrating consistent income and responsible financial behavior through bank statements can be helpful.
- Digital Lending Platforms: Fintech companies and digital lending platforms might have more flexible criteria compared to traditional banks. They often use alternative data points and advanced algorithms to assess creditworthiness, potentially allowing for loans without a PAN card.
Employer Reference: Some lenders may consider an employer reference or proof of employment as a substitute for a PAN card, especially if the employer is reputable and the borrower has a stable income.
Despite these alternatives, it is generally advisable to obtain a PAN card if you plan to apply for financial products in India. A PAN card simplifies the loan application process and increases the likelihood of approval, providing access to a broader range of financial services.
In conclusion, while getting a personal loan without a PAN card in 2024 is feasible through certain channels, having a PAN card is highly recommended for smoother and more favorable financial transactions.
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FAQ For Personal Loan Without PAN Card 2024
What is PAN CARD LOAN?
PAN card loan is a financial assistance so that people can meet your income and expenditure needs by availing PAN card.
How much amount can be availed for PAN CARD LOAN?
The amount for PAN card loan depends on individual and organizational income, performance and tenure.
How long can a PAN CARD LOAN be?
The tenure for PAN card loan depends on individual and organizational calamities, depending on the type of calamity permitted and the policies of the institution.
What documents are required for PAN CARD LOAN?
Documents required for PAN card loan may again vary between different banks and loan institutions. Generally, documents like PAN Card, Aadhaar Card, Literacy Proof, Income Proof, Name Proof, Income Proof, Bank Statement, Ownership Proof and Business Proof may be required.