In today’s digital age, a PAN card is not just an identity card, but also an important document for financial transactions. With this PAN card, you can get a loan of ₹5 lakh while sitting at home. Yes, you heard it right! But you need to follow some important conditions. Only then will you be able to get this loan.
How to Get a Loan Using a PAN Card?
Right now, the government has made it mandatory to link your PAN card with your bank account. Because of this, banks and financial companies can easily verify your KYC. If your PAN card is linked with your Aadhaar card, the loan process becomes even easier. That’s why many banks and NBFCS (Non-Banking Financial Companies) offer loans based on PAN and Aadhaar cards.
Documents Needed for a ₹7 Lakh Loan
To apply for a loan of up to ₹7 lakh, you need to submit the following documents:
- Identity proof: Aadhaar card, Passport, Voter ID, or Driving License
- Address proof: Aadhaar card, Passport, or Voter ID
- Last 3 months’ bank statement
- Last 2 months’ salary slips or Salary Certificate with Form 16
Special Features of PAN Card Loan
Here are some key benefits of getting a loan using a PAN card:
- PAN and Aadhaar card are required
- The application process is 100% online
- Loan amount is credited within 24 hours
- EMI repayment time ranges from 6 to 96 months
- Interest rates are lower, so EMI burden is less
How to Apply for a PAN Card Loan?
Follow these simple steps to apply online:
- Visit the official website of your chosen bank or NBFC
- Click on the ‘Apply Now’ button
- Log in using your mobile number and OTP
- Fill in details like name, PAN number, date of birth, and PIN code
- Choose loan type and amount
- Submit the form along with your KYC documents
Who Can Apply for This Loan?
To get a loan using your PAN card, you must meet the following conditions:
- You must be an Indian citizen
- Your age should be between 21 and 60 years
- You should be employed or self-employed with regular income
- PAN card must be linked with Aadhaar
- You must have a good credit score
So, if you need money for any emergency or personal use, you can apply for a personal loan of up to ₹5 lakh using your PAN and Aadhaar cards. The process is simple, online, and hassle-free.
Also Read
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