Shaurya Loans

27A, Prabudh Nagar, Aurangabad Jagir, Bijnor Road, Lucknow -226012

+91 93191 11303

PAN Card is a mandatory document for investments, deposits, and transactions above INR 50,000. It is also an essential document while filing Income Tax Returns, opening a new bank account, or applying for loans. As the loan application and disbursal processes have digitized, manual requests for a loan have been reduced.

The borrowers don’t need to submit a physical PAN card for a personal loan. Instead, you can enter the PAN number to proceed or use the Aadhar card number to complete the KYC verification.

For some lenders and financial institutions, PAN card is necessary for a loan as it gives clarity of the applicant’s financial status, repayment capability, and monetary frauds in the past if any. Applying for a loan without a PAN card will cause discrepancies in the loan verification procedure.

You may present other income documents for loan approval, but a loan verification without a PAN card is not complete. It is an important part of the KYC verification so keep your PAN card handy for instant loan approval. When a borrower tries to apply for a personal loan without a PAN card, it doesn’t give a good impression on lenders and can affect your approval status.

Personal loans are unsecured loans that require no collateral and lesser documents as compared to secured loans. If lenders are approving your loan without a PAN card, check their credibility before asking for a loan.

Tips to Avail Instant Loan in the Absence of a PAN Card:

Most of the lenders in India have set their eligibility criteria for personal loans quite clearly which includes Aadhar card and PAN card as mandatory documents to avail an instant loan. So, if you are thinking of a loan without a PAN card, it is not going to give you positive results for loan approval. Borrowers can avail of a loan up to Rs.50,000 or more with a PAN card. However, below are certain tips that you can consider till your new PAN card doesn’t arrive:

  • A high credit score is essential for quick approval
  • Submit your bank statement for financial assessment
  • Submission of utility bills and identity proofs instead of a PAN card can work for some lenders. However, it totally depends on eligibility criteria of lenders
  • Approach lenders offering loans with less stringent eligibility
  • A stable repayment history can form the base for loan sanction without a PAN card

Eligibility Criteria for availing instant loan with PAN Card

When you open an instant loan app to avail of a personal loan, first go through the eligibility criteria and then proceed with the loan application. Most of the personal loan apps in India have stated clearly about Aadhar cards and PAN cards being mandatory documents for loan approval. So, if you assume a loan without a PAN card will work, drop the idea and keep your PAN card number handy for a personal loan online.

Documents Required for PAN Card Loan

A PAN card is an important document to verify the financial history of a borrower. Hence, lenders will certainly not approve of personal loans without a PAN card. When you hesitate in submitting a PAN card for a personal loan, it gives an impression of being under confident about your financial history. Hence, prioritize PAN card as a mandatory document for a personal loan online.

Benefits of Applying for Loan with PAN Card

PAN card benefits personal loan approval and increases the lender’s confidence in disbursing the loan early. A personal loan without a PAN card might take time for loan approval or not get sanctioned at all. So, it is always beneficial for the borrowers to have a PAN card in hand while a personal loan application online.

How to apply for a Personal Loan with PAN Card

You can apply for the PAN card either online or offline. Here, we take a look at how you can avail the card using online mode via the Protean eGov Technologies Limited (formerly NSDL) and UTIITSL website.

Procedure for Existing Customers to Apply for an e-PAN

The procedure for existing customers to apply for an e-PAN is mentioned below:

  • Visit
  • Enter details such as the Permanent Account Number (PAN), Aadhaar number (in the case of individuals), date of birth, GSTN (optional), and captcha.
  • Click on ‘Submit’.
  • An OTP will be sent to your registered mobile number.
  • Enter the OTP to download the e-PAN.

In case you have not updated the email ID and mobile, you must complete that process first.

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