How to Get Personal Loan without PAN Card

Not every lender offers personal loans without a PAN card, but Moneyview’s partner lenders focus primarily on customer service. If you are looking for an ‘instant loan without PAN card’ or a ‘loan app without PAN card’, look no further!

You can get affordable instant loans without a PAN card through Moneyview. Continue reading to know how you can get a personal loan without a PAN card.

Is a PAN Card Mandatory for a Personal Loan?

No, a PAN card is not mandatory for getting a personal loan. However, most lenders prefer the PAN card as an identity proof, as it is linked to your financial history. Lenders can easily check your creditworthiness, with your permission, using your PAN. 

Here are the major reasons lenders may ask for your PAN -

• To check your identity

• To check your creditworthiness

• To complete the KYC 

Personal Loan Without PAN Card

While a PAN card is considered your primary identity proof document, you can easily get a loan through Moneyview without it.

Our lending partners have a list of documents you can choose from a proof of identity. You can use any of the following documents if you don’t have a PAN card - 

• Aadhaar Card

• Valid Indian Passport

• Valid Voter ID

• Valid Driver’s License

All you need are other officially valid documents or alternate KYC documents, such as your Aadhaar card, Voter ID, Passport, etc.  Read on to learn how to apply, eligibility requirements, and other documents needed.

Benefits of Applying for an Online Loan Without PAN Card

Here are some benefits of applying for a personal loan online without a PAN card -

1. Easy Access 

People who do not have a PAN card can borrow money quite easily if the lender accepts alternate documents like voter ID, Aadhaar, or Passport.

2. Quick Approval Process

Digital lenders often have streamlined processes that do not require a lot of documentation. This makes the loan approval process faster, even without a PAN card.

3. Paperless Process

Most online lenders let you complete the loan application process without having to submit hard copies of documents. You can apply for a personal loan without a PAN card 100% online. 

4. Fast Disbursal

If you do not have a PAN card, you can consider pre-approved loan offers. These loans are easy to apply for and do not need to many documents. All in all, you are able to get the funds required faster.

5. Convenience 

Applying for loans through digital lenders means you do not have to visit a branch or a physical location. This makes the whole process of applying for loans easier for borrowers, especially for those in remote areas.

6. Tailored Loan Products

Some lenders may offer small starter loans or micro-loans without requiring a PAN card. This can be useful for specific needs, such as medical emergencies and short-term expenses.

Documents Required for Online Loan Without PAN Card

The documents you need to apply for a personal loan from Moneyview without a PAN card are listed below - 

• Ensure that your mobile number is linked to your Aadhaar card for KYC verification

• Provide a clear selfie taken in a well-lit area

Please Note: The documentation requirements will vary based on your profile. Our lending partners may require proof of address, bank statements, and other supporting documents.

In case proof of address is required, any one of the following documents will suffice -

• Aadhaar Card

• Valid Indian Passport

• Valid Voter ID

• Valid Driver’s License

• Utility Bills (Electricity, Water, Gas) dated within the last 60 days

Please Note: If our lending partners require proof of income, you must furnish your bank statement for the last three months. This statement must show your salary credits.

How to Apply for an Online Loan without PAN Card?

You can apply for an instant loan through Moneyview without a PAN card in 4 easy steps -

STEP 1: Check Eligibility

Provide the required details to know your eligibility in just 2 minutes

STEP 2: Select Loan Tenure

Based on the options provided, select the loan amount and repayment term of your choice

STEP 3: Upload Documents

Upload all of the necessary documents for verification

STEP 4: Amount Disbursed

Post verification and submission of the loan agreement, the loan amount will be credited to your account within 24 hours in most cases

Tips for Getting a Loan Without a PAN Card

Here are some tips and tricks to get a loan without a PAN card -

• Good Credit Score

If you have a good credit score, the documentation requirement will be less. Thus, work on building and maintaining a good credit score and history. Consider paying your credit card bills on time, and never missing EMIs.

• Research Lenders and Apps 

There are many online and offline lenders who provide loans without PAN cards. Spend some time researching such lenders and compare them before finalizing one.

• Check Eligibility

Before choosing a lender, check their eligibility criteria. Some lenders might be rigid about the criteria and you may not be able to get a loan without a PAN card. But if they are flexible, you can furnish alternate documents in place of your PAN.

• Negotiate with the Lender

If you already have a relationship with the lender, getting a loan without a PAN card would be possible if you talk to them.

• Be Prepared for Additional Verification

Not having a PAN card can lead to additional documents required and other verifications. Keep all your other documents in order, and be ready to produce them when required.

Conclusion

The main documents you need to apply for a personal loan are proof of identity, address, and income. The PAN card is the most commonly used identity proof, but if you don’t have one, there is nothing to worry about.

You can use any of the listed documents to prove your identity and proceed with the loan procedure as usual. Taking a loan through Moneyview without a PAN card is 100% paperless and hassle-free.

To know more, visit our website or download the Moneyview app.