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I Don’t Have A PAN Card, Can I Get A Loan?

Submitted by admin on August 27th, 2024

When you need a specific amount of money to fulfil certain needs and wants, availing a loan may be your only option. However, if you do not own a PAN card can you still get a loan?

Most lenders do not provide personal loans to borrowers who do not have a PAN card. However, there are many reputable lenders who offer affordable loans fairly easily even to individuals who do not own PAN cards.

Read on to discover how you can get a loan without a PAN card and the benefits of such loans.

Eligibility criteria for availing loans without a pan card

• Borrower’s age must be at least 18 and not more than 57
• Salaried borrowers must earn a minimum monthly in hand salary of Rs.13,500
• Self-employed borrowers must have a minimum monthly in hand income of Rs.15,500
• Borrower’s income must be credited directly into their bank account
• Borrower’s CIBIL score should be at least 650

Benefits of availing online personal loans without a PAN card

• Flexible loan amounts
• Rapid eligibility check
• Loan approval despite lower credit score
• No collateral needed
• Affordable interest rates
• 24 hours disbursement
• Flexible repayment terms
• 100% paper free

PAN card alternatives for identity proof

A PAN card is one of many identity proofs issued to citizens of India. However, since it isn’t the only proof, borrower’s can use the following documents to prove their identity:

• Indian passport
• Aadhaar card
• Driving licence
• Voter card

A borrower must have at least one type of valid identity proof or KYC document.

Documents required to avail online loans without PAN card

The documents you need to avail online loans without your PAN card are as follows:

• Phone number linked with Aadhaar card for quick KYC verification
• Clear selfie clicked in a brightly lit room

Other documents that may be needed

Depending on the individual borrower’s profile, they may have to provide bank statements, address proof, and supporting documents. These documents may include:

• Utility bills such as water, electricity, and gas bills from the past 60 days
• Aadhaar card
• Voter card
• Indian passport
• Driving licence
• Bank statements of the last three months showcasing the borrower’s salary credits

If you are actively looking for a reputable online loan provider but do not have a PAN card or know whom to approach, simply book a consultation with Arthavidhi’s financial experts. Call, signup, or login to speak to an Dailyfinserv expert today.

Summing up

Getting a loan without a PAN card is possible when the borrower has proofs related to income, address, and identity.

By furnishing any one of the aforementioned documents, you can prove your identity and apply for a loan as you normally would. These online loans are usually entirely paperless and quick.

An FAQ on availing loans without a PAN card

Is it possible to get a personal loan without salary slips and a PAN card?

It is possible to avail a personal loan online without salary slips or a PAN card. Borrower’s do, however, need some form of identity proof. Salaried borrowers who are unable to produce salary slips can furnish bank statements showcasing their salary being credited into their account.