Get Personal Loan with PAN Card – The best thing about taking a loan now is that it is not difficult to do. If your documents are correct, then the loan can be easily obtained. However, at times getting a loan becomes difficult. Customers need to submit certain documents to apply for a personal loan on their PAN card
documents to the bank
PAN card is required for all financial transactions in the country. PAN number is a permanent ten digit number provided by the government for tax evasion. Without PAN card you cannot withdraw sufficient amount of money from banks.
You Can Get Loans From Banks On PAN Card, But Did You Know That? Perhaps the most important document of our identity today is our PAN card. Without this income tax return cannot be filed or bank account cannot be opened.
how to get loan against pan card
As a side note, getting a loan is not difficult in today’s world. Your documents must be accurate for the loan to be approved. However, there are times when getting a loan is difficult. If so, you may be able to get a personal loan using your PAN card.
PAN card can be used to get loan up to Rs 50,000 from most of the banks. Every bank or NBFC checks the CIBIL score of the customer before giving loan against PAN card. The customer’s loan repayment history can be determined from this information
Loan is available without any security
With PAN card, you can take a personal loan up to Rs 50,000. It is possible to get a loan of up to Rs 50,000 from the bank without any collateral. There is no mortgage to deal with in the bank. However, your CIBIL score should be good.This loan can be availed only if you fulfill the requirements. Personal loan interest rates are higher than that of a home loan or car loan, and they are unsecured loans. As a result, banks do not give loans on the basis of PAN cards in large quantities.
This document must be
Personal loans are available against PAN card, but certain documents have to be submitted to the bank. Your work experience is also included here. If you have at least two years of work experience, you can get a personal loan against your PAN card. When you have a better CIBIL score both in personal and professional life, you can get a personal loan on your PAN card.