Want To Get Rs 5 Lakh Personal Loan Using Only PAN Card? Here's A Step-By-Step Guide

Outlook Money

Personal Loan

Getting a personal loan has become much more easier with digitization. All one needs is a PAN card.

Personal Loans

Why PAN Matters

Pan cards are issued by the Income Tax Department and it is useful for the verification of Know Your Customer (KYC) verification in various financial institutions and banks.

Pan Card

Before Applying

Before applying, it is important for an individual to link Aadhaar and PAN as e-KYC highly depends on this.

Before Applying

Documents Required

Documents required are identity proof, address Proof and financial records.

Documents

Apply Online

One should start by choosing a lender, review lender comments, loan conditions, and interest rates. After this, one should visit the official website of the lending institution or bank.

Apply Online

Steps

After visiting the website, one should access the application form, click "Apply Now." After which an OTP for confirmation is received. After that, one must enter the name, PAN number, date of birth, and PIN code.

Steps

Steps Continued

After that, one must enter the loan type and choose a repayment schedule. 

Step

Eligibility

A person must be an Indian citizen, from age group 21 to 60, must have a PAN card and should really pay credit score.

Eligibility

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