PAN Card Loan: Want Emergency Fund? Get Rs 5,000 Loan Without Documents In Minutes

A PAN card is an essential document especially with regard to financial transactions in India. This card is an essential document which is required when you are applying for most loans. It is important to note that a Rs 5000 loan on a PAN card is an unsecured loan which you can get with the use of a PAN card as identification and creditworthiness.    

The borrower must be between 21 and 57 years of age and should have a minimum monthly income of Rs 25,000 or more. Adding further, their income must be credited directly to their bank account to be eligible. 

 

To complete the process, you will need to provide your PAN number, and your mobile number must be linked to your Aadhaar card for KYC verification. However, some banks and lending apps require both your Aadhaar card and PAN card. 

The loans are offered by digital lending apps, NBFCs, and certain banks. It is important to review the interest rates, processing fees, and repayment periods to explore and compare options to find the one that best suits your needs. 

 

Step 1: Identify banks, NBFCs, or digital lenders that disburse small loans with minimal formalities.

Step 2: Visit the website or application of your chosen lender and provide key details such as your credit score, loan amount, and other necessary information.

Step 3: Upload your PAN card for identity verification. Some lenders may also request additional documents like your Aadhaar card or proof of income.

Step 4: The lender will review your application and either approve or reject it based on their eligibility criteria.

Step 5: If approved, the loan amount will be credited directly to your bank account, often within a few hours. 

A Rs. 5,000 loan on a PAN card offers several advantages, including minimal documentation, which simplifies the application process. With quick processing, the loan is often approved and disbursed in a short time, making it a convenient option for urgent needs. Adding further, there is no requirement for collateral, making it accessible even for those without valuable assets to pledge. (Image Credit: File Photo)