If you do not have a PAN card, then at present there are some Instant loan app which provide you loan without PAN card. On the basis of Aadhaar card and after verifying your income proof, these instant loan apps provide loan ranging from Rs 1000 to Rs 50000.
In this article, we will give you information about how to get a loan without PAN card with the help of Instant loan apps.
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Tips for Getting an Instant Loan Without a PAN Card
The majority of Indian lenders have made their eligibility requirements for personal loans very clear. For example, you need to have a PAN card and an Aadhar card to get an instant loan. Therefore, applying for a loan without a PAN card will not result in favorable loan approval results. With a PAN card, borrowers can get a loan of up to Rs. 50,000 or more. However, until your new PAN card arrives, consider the following suggestions:
- For quick approval, you need a high credit score.
- For a financial assessment, send your bank statement.
- Some lenders will accept utility bills and identity proofs instead of PAN cards.
- However, it entirely depends on the lenders’ eligibility requirements.
- Look for lenders who offer loans with less stringent eligibility requirements.
- A solid repayment history can be used as the foundation for a loan without a PAN card.
Instant Loan Apps Without PAN Card
Following are the Instant loan apps where you can get loan without PAN card:
S No. Application Name Loan Amount
1 MoneyView Rs 10,000 up to ₹5,00,000
2 Dhani Rs 50,000
3 Navi Rs 50,000 to ₹20,00,000
4 CASHe Rs 1,000 to Rs 4,00,000
5 Money Tap Rs. Rs 10,000 to Rs. 5 lakhs
6 Buddy Loan Rs. 10,000 to Rs. 15 Lakhs
7 Nira Rs 5,000 to Rs 1,00,000
8 PaySense Rs.5,000 to Rs.5 lakh
9 Home Credit Rs 10,000 upto ₹5,00,000
10 KreditBee Rs 1,000 to ₹3,00,000
11 RupeeRedee Rs 2000 to ₹25000
12 True Balance Rs 5,000 to ₹ 50,000
13 India Lends Rs. 2000 upto Rs 5,00,000
14 mPokket Rs 500 to Rs 30,000
15 Kissht Rs 30,000
Best App to Save and Borrow Money in Emergency.
Interest Rates and Charges for Instant Loan App Without PAN Card
The interest rate of such loans is approximately the same for all. Let us have a look:
Interest Rate – 1.33% per month
Loan Processing fees – 2% to 8%
Interest on Overdue EMIs – 2% per month
Period of repayment – 91 days to 15 months
According to Gst Fee – 18%
Late Fee – Have to be paid in case of delay in EMI
Loan service fee – depends on the amount of loan
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Eligibility Criteria For Instant Loan App Without PAN Card
Age of Applicant: Between 21 years to 57 years.
Minimum income of applicant: Rs 13,500.
The income should be deposited directly into the bank account of the applicant.
Credit score: Minimum CIBIL score 600 or minimum Experian score of 650.
How to Apply for Online Instant Loan without PAN Card
To get a personal loan easily without a PAN card, with the help of instant loan apps you can follow the steps mentioned below:
Step 1. Install Loan Application from Google Play Store.
Step 2. Sign up with your mobile number.
Step 3. Fill all your information like name, address, date of birth, address, income etc.
Step 4. Upload your KYC documents.
Step 5. Now wait till the loan is approved, as soon as the loan is approved, this amount is transferred to your bank account.
Do You Need An Urgent Loan of Rs 50000? Get a Loan on Aadhaar Card
Get Instant Funds At Low Interest and Without Credit Score
Money Club is India’s best AI-powered online chit fund platform that allows you to avail loans at the most affordable low interest rates and at the time of need without any paperwork. The best part is that credit score does not matter here. You can easily raise money by bidding at a low interest rate.
Chit Fund allows you to borrow money as well as save your money. You can invest small amount every day, every 3 days, 15 days or monthly and get high returns on your investment.
Download the Money Club App and be prepared with an emergency fund for any financial emergency. Be smart; Avoid the pitfalls of borrowing at high cost from moneylenders and other financial channels. Borrow with fewer hassles.
Benefits of chit funds
Chit funds offer the advantage of being both a saving and an investing vehicle. Let us look at the benefits of investing in chit funds:
- In an emergency, you can easily borrow the money, or you can keep using it as an investment.
- You get a community of verified friends with whom you pool money and who help you in crisis.
- You can borrow money that is several times as much as what you have invested when you need it.
- You receive the funds 6 to 8 hours after placing the bid.
- Safe and transparent transactions as money do not lie with the organizer. Payments are made directly bank to bank account of members.
- The loan is against your own potential future contributions.
- The rate of interest is considerably less than what banks offer.
- Paperwork is not a hassle.
- There is no demand for a high credit score.
- Better returns when compared to fixed or recurring deposits.
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FAQs On Instant Loan Apps Without PAN Card
Yes, you can avail a personal loan without PAN card with some lenders. You can use other KYC documents such as Aadhar card and driving license for general verification.
To know your PAN card loan eligibility, you may visit the CIBIL website. Enter your PAN card number, and wait for the credit score to appear. Having a high score confirms your PAN card eligibility for a personal loan.
Without a PAN card, there is almost no way to get approved for a loan on official instant loan apps and websites. However, in rare instances, if you have maintained a long-term relationship with a lender, your loan application may be considered without a PAN card due to the trust factor that already exists.
Read: Instant Cash Loan In 5 Minutes: 25 Instant Cash Loan Apps (Rs. 5000 to Rs. 5 lakhs)
