How To Get Personal Loan On Pan Card Up To 50000

Users can now get up to Rs.50000 personal loan using their PAN card. Instant loan apps are offering loans in less than 15 minutes, and all you need is your PAN card details and a few basic personal details.

Instant personal loans can be a great way to get cash when you need it, without having to wait for a bank loan to be approved. These instant loans do not require lengthy documentation or days of waiting. 

These loans are generally offered by instant loan apps that offer a completely online application process. Applicants just have to fill in a few basic details and PAN card details to learn of their approved credit limit. Once the credit limit is approved, borrowers can avail how much amount they want to borrow. They will be charged interest only for the amount they use and not on the entire amount.

There are more benefits of getting instant personal loans, that are listed here – 

• PAN Card loans are processed instantly, generally within 15 minutes
• Unsecured loans that can be used for a number of purposes, like wedding, vacation, medical emergency, education, & travel
• Fast approvals and instant disbursal into your bank account
• Interest rates starting as low as 1.5% per month
• Pay interest only on the amount you use and not the entire loan amount
• You can get flexible repayment tenure of up to 5 years to repay the amount

Also Read: 10 Basic Rules To Get The Best Deal For Personal Loans

PAN Card Loans – A Snapshot

Criteria for Applying for a Personal Loan with a PAN Card

The following are the eligibility requirements for a Pan Card Loan:

• The applicants must be between the ages of 21 and 66
• Applicants must have a monthly net income of at least Rs. 15,000
• The loan should be linked to their salary account
• Applicants must have a Credit score of at least 700 to be eligible for a loan with a PAN card

Additional Read: 5 Personal Loans For Credit Scores In Range Of 600 700

How Can I Apply For A Loan Using My PAN Card? 

Most of these lenders offer a completely online loan process – 

1. Register on the loan app using your email address and phone number
2. You can check your loan eligibility and credit limit by entering your PAN number, bank account and other financial details as required by the lender
3. Upon submitting these details, the app will quickly check your credit score and give you your approved credit limit
4. Once you receive the credit limit, you can borrow whatever amount you want from this limit

How PAN Card Is Significant In Processing Your Loan? 

As per RBI guidelines, every bank account in the country is now linked to their respective PAN cards. PAN card is also linked to most of the financial transactions. When lenders seek your PAN card details, they are able to determine your credibility based on your financial history & credit score.

What Are The Repayment Options On Personal Loans With PAN Cards? 

These loans are generally linked to your bank account so that the monthly EMI is directly debited from there. In case you want other options, you can pay through your netbanking login or debit card too. 

Bajaj Finserv Personal Loans Using PAN 

 

 Aditya Birla Capital Personal Loans Using PAN

 

EarlySalary Personal Loan

 

CashE Instant Personal Loans

 

KreditBee Personal Loan

 

In Summary – 

Personal loans can be a lifesaver in times of emergency. An unexpected medical bill or a sudden job loss can leave you in a bind, and instant personal loans are a great way to manage them. Personal loans can be availed using your PAN number. They are processed and approved in a matter of minutes, and you can get your cash.

Personal Loan using PAN – FAQs: 

1:Do I need any document other than PAN to get an instant personal loan? 

Apart from your PAN, you will have to submit your bank account details, identity proof & address proof, and some lenders may ask for your Aadhaar number. 

2:How much loan can I get with my PAN card? 

While each lender is different, you can get loans starting from Rs.50,000 using your PAN. 

3:What are the interest rates on personal loans with PAN? 

Interest rates on these loans start from as low as 1.5% per month. 

4:How long does it take for these loans to be processed? 

While most of these loans are processed instantly, like within 15 minutes, it may take about 2-3 business days for the process to be completed and the amount to be disbursed to your bank account. 

5:Is there any minimum income requirement for these loans? 

Yes, most lenders require you to have a minimum monthly income of at least Rs.10000.