Your PAN card is an important ID proof and is requested in a lot of cases including during loan sanctions. However, you can still avail an instant loan without a PAN card from Money View.
Personal Loan without PAN Card
One of the most sought after personal loan providers in the country, Money View offers affordable loans at flexible repayment terms to customers with minimal documentation. And through Money View, you can easily avail an instant loan without a PAN card.
How to Apply for Online Loan without PAN Card
Follow the steps given below to easily get a personal loan without PAN card from Money View -
Check your eligibility
Visit the Money View website or loan app. Provide the required details and we will let you know your eligibility in 2 minutes.
Choose your loan plan
Based on the options provided, select the loan amount and repayment term of your choice
Upload required documents
Upload all of the necessary documents online for verification
Loan transfer to your bank account
Post verification and submission of loan agreement, the loan amount will be credited to your account within 24 hours
Note -
- After your documents are verified, you will receive a NACH form which needs to be printed, signed, scanned, and sent back to Money View
- This step will enable the auto-debit facility from your bank account and allow you to pay your EMIs on time automatically without the need for any manual intervention
- On receiving your NACH form, you will need to review the loan agreement on the app. Please submit the application after reviewing all the terms and conditions thoroughly
Eligibility Criteria for Online Loan without PAN Card
Now that you know how easy it is to apply for an instant loan without a PAN card, you need to check if you fulfill the eligibility criteria given below -
- Applicants must be between 21 years and 57 years
- Applicants must receive an income of Rs. 13,500 or more*
- Income must be credited directly to the applicants’ bank account
- Credit score must be a minimum CIBIL score of 600 or minimum Experian score of 650
| Income and Credit Score Eligibility Criteria* | |||
|---|---|---|---|
| Salaried Individuals | Minimum In-Hand Income | Area of Residence | CIBIL Credit Score Requirement |
| Rs 13,500 | Any | CIBIL Score of 600 /Experian Score of 650 and above | |
| Rs 20,000 | Mumbai/Thane or the NCR region (Delhi, Noida, Gurgaon, Ghaziabad, Faridabad, etc.) | New to Credit or CIBIL Score of 600 /Experian Score of 650 and above | |
| Rs 15,000 | Metro City other than Mumbai and NCR | CIBIL Score of 600 /Experian Score of 650 and above | |
| Self-Employed Individuals | Rs 15,000 | Any | CIBIL Score of 600 /Experian Score of 650 and above |
For Self-Employed Individuals
- Applicants must have a minimum In-hand income of Rs. 15,000 per month
- Income must be directly credited to the applicants’ bank account
- A minimum CIBIL score of 600 or more or Experian score 650 or more
- Applicants must be between the ages of 21 years and 57 years
Documents Required for Online Loan without PAN Card
We understand that not everyone will be able to submit a PAN card as ID proof, however at Money View, we offer other alternatives as given below -
| Identity Proof | Address Proof | Income Proof |
|---|---|---|
PAN Card - This is the primary ID proof required. However, if it is rejected due to image quality issues or other reasons, any 1 of the officially valid documents given below will suffice)
|
Any 1 of the following -
|
Salaried Applicants - Last 3 months’ bank statements of your salary account in PDF format showing salary credits OR Self-Employed Applicants - Last 3 months’ bank statements in PDF format if you are self-employed |
However, if you are able to furnish your PAN card, it will be accepted as an officially valid document (OVD) for proof of identity.
Interest Rates and Charges for Online Loan without PAN Card
As mentioned previously, we focus on ensuring affordable loans for all our customers. Take a look at our fees and charges below -
| Fees and Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starts from 1.33% per month |
| Loan Processing Charges | Varies from 2% to 8% of the approved loan amount. The processing fee is deducted upfront from the approved loan. |
| Interest on Overdue EMIs | 2% per month on the overdue EMI/Principal loan amount. |
| Cheque Bounce | Rs.500/- each time. |
| Loan Cancellation |
|
In Conclusion
While your PAN card is an important proof of your identity, there may be circumstances wherein you are unable to provide the same. Therefore, at Money View, alternate documentation options are provided. So if you are typing ‘loan app without PAN card’ trying to find a personal loan that does not require a PAN card, then visit the Money View website or download the app to apply now!
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