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How to Get Personal Loan without PAN Card?

by Era Inventions
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A Personal Loan is a loan that does not require collateral and requires minimal documentation. The funds raised from personal loan can be used for any legitimate financial needs and must be repaid as per the agreed terms & conditions. The funds can be used for planning a holiday, medical treatment, buying gadgets, home renovation, education of children. 

After applying for the loan, submitting the documents required and checking the credit worthiness, the loan is being offered. It means the funds get transferred into the bank account of the applicant from which he/ she can use the money the way they want to. It must be repaid in EMI, which will depend upon factors like loan amount, tenure and interest rate.

Features & Benefits:

Below mentioned are the features of Personal Loan:

  • No end usage restriction.
  • Loan up to INR 40 lakh that can exceed depending on lender’s discretion.
  • Repayment tenure up to 5 years with some banks/ NBFC’s offering longer tenure.
  • Minimal Documentation.
  • Quick Disbursals.
  • Applicants having excellent credit profiles may also qualify for pre-approved/pre-qualified personal loans with instant disbursal.
  • Affordable interest rates.
  • No need to pledge any asset to apply for personal loan.

Personal Loan Eligibility Criteria:

  • Age: 18 – 60 years
  • Income: Minimum INR 15000/ month for salaried applicants
  • Credit Score: Preferably 750 or above as high credit score increases the chances of loan getting approved at lower interest rates.

Personal Loan without CIBIL Score: 

Below mentioned are the ways to get Instant Loan without CIBIL:

  • Opt for Collateral Based Loans
  • Prove Creditworthiness
  • Get a Guarantor for the Loan
  • Apply for a Lower Loan Amount
  • Request the Lender for a NA or NH on the Credit report
  • Check the Credit Report

Personal Loan without PAN Card:

In case the applicant requires an Instant loan but not obtains PAN Card, he can also get the same by furnishing the documents like Aadhar Card, Voter ID, Passport, etc.

Eligibility Criteria for Online Loan without a PAN Card

It has now become easier to apply for Instant Loan without PAN Card, mentioned below are the eligibility criteria for the same:

For Salaried Individuals:

  • Applicant must be between 21 years and 57 years.
  • Income must be credited directly to applicant’s bank account.
  • Minimum in hand income and credit score is as mentioned below:
Income and Credit Score Eligibility Criteria*
Salaried IndividualsMinimum In-Hand IncomeArea of ResidenceCIBIL Credit Score Requirement
Rs 13,500AnyCIBIL Score of 600 /Experian Score of 650 and above
Rs 20,000Mumbai/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 15,000Metro City other than Mumbai and NCRCIBIL Score of 600 /Experian Score of 650 and above
Self-Employed IndividualsRs 15,000AnyCIBIL Score of 600 /Experian Score of 650 and above

For Self-Employed Individuals:

  • Applicant must have a minimum in hand income of INR 15000 per month.
  • Income must be credited directly to applicant’s bank account.
  • A minimum CIBIL score of 600 or more or Experian score 650 or more.
  • Applicant must be between the age of 21 years and 57 years.

Documents Required for Online Loan without PAN Card

Below mentioned are the documents required to apply for online loan without PAN Card:

  1. Identity Card: 

PAN Card is the primary identity card to be furnished, but in case of applicant is not able to furnish it for some reason or it is rejected due to quality issues, etc. any 1 of the following would be accepted:

  • Aadhar Card
  • Valid Indian Passport
  • Valid Voter ID
  • Valid Driver License 
  1. Address Proof:

Any 1 of the following would be accepted: 

  • Aadhar Card
  • Valid Indian Passport
  • Valid Voter ID
  • Valid Driver License 
  • Utility Bills (Electricity, Water, Gas) of last 60 days
  1. Income Proof:
  • Salaried Applicants:

Last 3 months’ bank statements of your salary account in PDF format showing salary credits


  • Self-Employed Applicants:

Last 3 months’ bank statements in PDF format if you are self-employed

Interest Rates & Charges for Online Loan without PAN Card

Below mentioned are the fees & charges for online loan without PAN Card: 

Fees and ChargesAmount Chargeable
Interest RateStarts from 1.33% per month
Loan Processing ChargesVaries from 2% to 8% of the approved loan amount. The processing fee is deducted upfront from the approved loan.
Interest on Overdue EMIs2% per month on the overdue EMI/Principal loan amount.
Cheque BounceRs.500/- each time.
Loan CancellationNo additional/hidden charges levied.Processing fees will also be retained.

How to Apply for Online Loan without PAN Card:

Below mentioned are the steps to apply for an online loan without PAN Card:

Step 1: Check Eligibility:

  • Visit the loan app.
  • Enter the required details.
  • It will let applicant know his/ her eligibility.

Step 2: Select Loan Tenure:

  • Select the loan amount and repayment term.

Step 3: Upload Documents:

  • Upload the documents required for the purpose of online verification.
  • Provide identity proof, address proof, and income proof.
  • In case PAN Card is not available, other KYC documents will be accepted.

Step 4: Amount Disbursed:

  • Post verification and submission of loan agreement, the loan amount gets credited to the bank account within 24 hours.


  1. What can personal loan be used for?

Personal loan can be used for below mentioned reasons:

  • Emergency Expenses
  • Debt Consolidation
  • Repay Credit Card Dues
  • Business Ventures
  • Home Remodeling
  • Dream Vacations
  • Fund Education
  • Purchase of Gadgets
  • Making Down Payments
  • Servicing or Modifying of a Vehicle
  1. Can Aadhar Card be submitted as ID Proof in case of non-availability of PAN Card?

Yes, though PAN Card is the primary proof of identity, but if for some reason it cannot be furnished, Aadhar card can also be submitted as a proof of identity.

  1. Why is CIBIL Score important to get a Personal Loan?

A personal loan is an unsecured loan that a bank lends without any collateral. As it is a risky investment for the lender, that is the reason lenders pay close attention to the applicant’s credit score and it becomes important to be evaluated. Below mentioned are the reasons the CIBIL Score is important for the lenders: 

  • Determines the borrower’s creditworthiness.
  • Determines the rate of interest to sanction the loan.
  • Determines the Loan limit.

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