Know How to Apply for an Instant Loan Without PAN Card in the Current Situation
If you want to apply for an instant personal loan, you will need to prove your eligibility. One of the vital eligibility parameters is the submission of the relevant documents. PAN card is one of the major KYC documents required by lenders.
But what if you don’t have the PAN Card?
Can you still apply for an instant loan without a PAN Card?
Yes, it is possible to do that. Do you want to know how? Read on!
Here’s what to do to apply for an instant loan without PAN card
- Submit other documents
If you don’t have a PAN card, you can submit any other document for KYC verification. Yes, applying for a personal loan on Aadhar card is possible these days. To do that, you can submit your Aadhar card. Other documents giving information about your address, like the Passport, can also be submitted.
2. Provide your bank account statements and salary slips
Lenders want to know if you have been earning well and have documents to prove that. You will need to submit your last 2 months’ salary slips and 3 months’ salaried bank account statements. Once a lender is sure of your repayment capacity, it can sanction your instant loan without PAN Card application quickly.
3. Your CIBIL score should be 750 or more
If you wish to avail of an instant loan without a PAN Card, you will need to prove that you are the right loan candidate. A CIBIL score of 750 or more is what will help you get the loan approval faster and at a lower rate. You can maintain a healthy credit score by paying your EMIs for ongoing loans and credit card outstanding.
If you can consider these tips, then you may get approval for an instant loan without PAN Card without issues.
Bajaj Finserv is here to offer pre-approved deals on personal loans, home loans, business loans and more. It is to ease off loan processing and make it faster.
You can know your pre-approved loan offers today after sharing your basic details, such as your name and mobile number.
