Personal Loan with PAN Card: A personal loan is a convenient way to manage planned expenses and unexpected emergencies without reducing your savings. Whether it’s a medical bill, home repair, or a special family occasion, a personal loan can provide instant financial support. One of the key documents that make the application process faster and easier is your PAN card.
Because of minimal documentation requirements, applying for a PAN card loan has become very popular. Your PAN card serves as proof of identity and financial credibility, allowing lenders to verify your details instantly and approve loans with minimal delays.
When you apply for a personal loan, PAN card-based verification plays an important role. Most banks and NBFCs consider it a mandatory document during the loan approval process. It also helps build your credit profile, enabling lenders to assess your eligibility correctly.
With a valid PAN card and stable income, you can get instant approval for a personal loan, often with same-day disbursal. If you are looking for an easy way to borrow, opting for a PAN card loan can be a smart choice.
Why is PAN Card Important for a Loan?
Your PAN card is linked to all your bank accounts, credit cards, and existing loans. It also helps credit bureaus track your credit-related activities. Lenders require your PAN card because it enables them to access your credit information report and credit score from bureaus like CIBIL to assess your eligibility and repayment capacity.
By submitting your PAN card, lenders can check your financial history. If there are no irregularities or outstanding loans and you have a good repayment track record, your chances of getting a personal loan approved increase significantly.
How to Apply for a Personal Loan with PAN Card?
Here is the detailed process to apply for a Bajaj Finserv Personal Loan:
- Click “Apply” at the top of this page to open the online application form.
- Enter your 10-digit mobile number and verify it using the OTP sent to your phone.
- Fill out the application form with your full name, PAN, date of birth, and PIN code.
- Click “Proceed” to go to the loan selection page.
- Enter the loan amount you wish to borrow. You can choose from three loan variants – Term, Flexi Term, and Flexi Hybrid.
- Select your loan tenure between 12 to 96 months.
- Click “Proceed”.
- Complete your KYC details and submit your application.
How Much Personal Loan Can You Get with a PAN Card?
Credit Score – A good score (685+) increases your chances of getting a PAN card loan on better terms.
Monthly Income – Stable income improves eligibility and allows you to avail of a higher loan amount.
Age & Employment – Lenders prefer applicants aged 21 to 80 years with a stable job or steady business income.
Existing Debts – Lower existing EMIs or debts improve the chances of approval.
PAN Requirement – Most lenders require PAN for instant verification, speeding up loan approval.
How to Get a Loan Without PAN Card?
Some lenders may offer small-ticket loans without a PAN card using alternative ID proofs like Aadhaar or Voter ID. However, it is always best to check directly with the lender for such options.
Eligibility Criteria for a PAN Card Personal Loan
Eligibility criteria vary by lender, but the following basic conditions usually apply:
- Nationality – Indian
- Age – 21 to 80 years* (*maximum age at loan maturity)
- Employment – Public, private, or MNC employees
- CIBIL Score – 685 or above
- Profile – Salaried or self-employed individuals
Documents Required for a Personal Loan with PAN Card
Apart from the PAN card, you will need the following documents:
- KYC documents: Aadhaar, Passport, Voter ID, Driving License, NPR Letter, or NREGA Job Card
- PAN card
- Employee ID card
- Last 3 months’ salary slips
- Last 3 months’ bank account statements
- Piped gas bill
- Pension order
- Employer-issued accommodation letter
- Property/municipal tax receipt
- Utility bills
Interest Rate on Personal Loan with PAN Card
Before applying, check the applicable personal loan interest rate. Consider all associated charges to plan repayment comfortably. Use a loan EMI calculator to know the principal and interest breakdown.
Features and Benefits of Personal Loan
No Collateral Required – Personal loans are unsecured, so you don’t need to pledge assets.
Quick Disbursal – Once approved, the amount is usually credited within 24 hours.
No End-Use Restriction – Use it for home renovation, education, travel, or emergency expenses.
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