Loans
Cards
Insurance
Investment
Stock Market
Electronics Mall
CIBIL Score
Knowledge Centre
Calculators
Do not call
En
Table of Content
Learn how to get a personal loan using your PAN card and understand why it is a mandatory document for loan approval.
A Permanent Account Number (PAN) card serves as a crucial identification and verification document when applying for a personal loan. As per the latest KYC regulations by the Indian government, submitting a valid PAN card is mandatory for loan approval. It helps lenders verify your financial records quickly, ensuring faster processing and seamless disbursal of funds.
A personal loan on a PAN card refers to a loan that can be availed by providing your Permanent Account Number as part of the Know Your Customer (KYC) verification process. It helps lenders identify your financial background, track your credit history, and process your loan application efficiently.
Since the PAN card is linked to your income and tax details, it enables lenders to assess your repayment capacity accurately. This makes it easier to get instant personal loan approval with minimal documentation and faster disbursal.
Several lenders now rely on digital verification systems and secure online databases to simplify loan processing. Here are some of the banks and NBFCs that offer personal loans where a PAN card serves as a key identification document:
| Banks/NBFCs | Interest Rate | Minimum Amount | Maximum Amount | Max Tenure |
|---|---|---|---|---|
Bajaj Finance Limited |
Starting at 10% p.a. |
₹40,000 |
₹55 Lakhs |
Up to 8 years |
Kotak Mahindra Bank |
Starting at 10.99% p.a. |
₹50,000 |
₹40 Lakhs |
Up to 6 years |
YES BANK |
Starting at 12.50% p.a. |
₹1 Lakh |
₹50 Lakhs |
Up to 6 years |
Aditya Birla Capital |
Starting at 13.50% p.a. |
- |
₹7 Lakhs |
Up to 5 years |
KreditBee |
Starting at 12% p.a. |
₹7,000 |
₹10 Lakhs |
Up to 5 years |
moneyview |
Starting at 1.33% p.m. |
₹30,000 |
₹10 Lakhs |
Up to 5 years |
Finnable |
Starting at 15.95% p.a. |
₹20,000 |
₹10 Lakhs |
Up to 5 years |
InCred |
Starting at 13.99% p.a. |
₹10,000 |
₹10 Lakhs |
Up to 5 years |
Muthoot Finance |
Starting at 14.50% p.a. |
₹50,000 |
₹10 Lakhs |
Up to 5 years |
PaySense Partners |
Starting at 14% p.a. |
₹5,000 |
₹5 Lakhs |
Up to 5 years |
Piramal Finance |
Starting at 17.25% p.a. |
- |
₹6 Lakhs |
Up to 5 years |
Privo |
Starting at 9.99% p.a. |
₹2 Lakhs |
₹5 Lakhs |
Up to 5 years |
SMFG India Credit |
Starting at 12% p.a. |
₹50,000 |
₹25 Lakhs |
Up to 5 years |
Federal Bank |
Starting at 12.75% |
₹50,000 |
₹5 Lakhs |
Up to 4 years |
L&T Finance |
Starting at 12% p.a. |
₹50,000 |
₹15 Lakhs |
Up to 4 years |
Disclaimer: The above-mentioned information is subject to change as per changes in the financial institution’s policies.
A personal loan on a PAN card offers quick access to funds with minimal documentation and flexible repayment options.
Here are some of the key features and benefits:
You can get quick loan approval through a simple online application process using your PAN card as primary KYC proof
Once approved, the loan amount is credited directly to your bank account within a few hours
As an unsecured loan, you don’t need to pledge any asset or security to get approval
You can borrow amounts up to ₹55 Lakhs, depending on your eligibility and repayment capacity
Enjoy competitive interest rates starting from 9.99% p.a., making repayment easier on your budget
You can repay the loan comfortably over a tenure of up to 8 years
Use the loan amount for multiple purposes such as medical expenses, home renovation, travel, or debt consolidation
Disclaimer: The loan amount, interest rate, and tenure may vary across lenders and are subject to eligibility and credit assessment.
Before applying for a personal loan using your PAN card, you must meet the lender’s basic eligibility criteria. These conditions ensure that you qualify for smooth loan approval and disbursal.
Here are the general eligibility requirements:
Applicant must be an Indian citizen
Both salaried and self-employed individuals are eligible
You must be at least 18 years old
A minimum monthly income of ₹9,000 is required
At least 6 months of continuous employment or business operation
A CIBIL score of 685 or higher is preferred for approval
The documentation process is simple and mostly digital. Below is a list of commonly required documents:
| Document Type | Accepted Documents |
|---|---|
Identity Proof |
PAN Card (mandatory), Aadhaar Card, Passport, Voter ID, or Driving Licence |
Address Proof |
Aadhaar Card, Passport, Voter ID, Driving Licence, Utility Bill (Electricity/Telephone) |
Income Proof |
Latest 3 months’ salary slips or bank statements |
Photographs |
2 recent passport-size photographs |
Disclaimer: The above eligibility and documentation requirements may vary across lenders and are subject to internal policies and credit assessment.
You can easily apply for a personal loan online through the Bajaj Markets website or mobile app by following these simple steps:
Click on ‘Apply Now’ on this page to begin your loan application
Select your profession from the dropdown list
Enter your PIN code and mobile number to proceed
Provide your personal details, including:
Full name (as per PAN card)
Gender
PAN number
Email ID
Date of birth
Enter your employment details, such as:
Employer or company name
Net monthly income
Mode of salary credit (cash or bank transfer)
Organisation category
Click on ‘Submit’ after filling out the details
Choose your preferred loan offer and repayment tenure
You will be redirected to the lender’s portal to complete digital KYC, set up an e-mandate, and finalise disbursal
A PAN card plays a crucial role in the personal loan approval process. It acts as a unique financial identifier, allowing lenders to verify your creditworthiness and financial background.
Here’s why it is essential:
A PAN card serves as valid proof of identity, confirming your personal and financial details
It helps lenders monitor your tax history and financial dealings through your PAN-linked records
Since your PAN is linked to your credit profile, it enables lenders to access your CIBIL score and repayment history
Lenders can verify your declared income using tax returns and financial records tied to your PAN
A unique PAN number reduces the risk of identity theft and ensures authenticity in loan processing
With digital verification, your PAN helps speed up the approval process by simplifying KYC and income checks
A PAN card essentially helps the Indian legal system track every cash inflow and outflow into bank accounts. You need to have your PAN card or PAN number handy while carrying out the following:
Paying income tax
Buying a property valued over ₹10 Lakhs
Applying for a loan
Buying or selling a vehicle
Registering a business
Buying equity shares/bonds valued over ₹1 Lakh per transaction
Renting a home
Opening a bank account
Applying for a credit card
Setting up an e-commerce store in India
Carrying out financial transactions in the name of a co-operative society or trust
|
Yes, most banks and NBFCs allow you to apply for a PAN card loan. You can complete the entire process digitally, right from document submission to approval and disbursal—without visiting a branch.
Yes, applying for a personal loan using your PAN card is safe, provided you apply through a verified and registered financial institution. Always ensure the website is secure (https) before sharing your details.
Foreclosure or prepayment charges depend on the lender’s terms and conditions. It is advisable to check the applicable fees before choosing to close your loan early.
A PAN card helps lenders verify your identity, financial records, and credit history. It ensures transparency, reduces the risk of fraud, and speeds up the loan approval process.
Once you submit your PAN and other required documents, approval can take anywhere from a few minutes to 24 hours, depending on the lender’s verification process.
While the PAN card is mandatory for KYC verification, lenders may ask for additional documents like income proof, address proof, and bank statements to process your loan application.
Yes, your credit score, linked to your PAN, plays a key role in loan approval. A higher CIBIL score increases your chances of approval and helps you secure lower interest rates.
Providing inaccurate PAN information may lead to loan rejection or delays in processing. Always double-check your details before submission to avoid discrepancies.
84024
Unlock the world of credit! From picking the perfect card to savvy loan management, navigate wisely.
45651
Money Management and Financial Planning covers personal finance basics, setting goals, budgeting...
22558
Explore the investment cosmos! From beginner's guides to sharp-witted strategies, explore India's treasure trove of options.
34945
Navigate the tax maze with ease! Uncover Income Tax 101, demystify jargon with Terms for Beginners, and choose between Old or New Regimes.
11562
Discover essential insights on various types of insurance in India.
4436
Welcome to Tech in Finance, where we explore the exciting intersection of technology and finance...
Personal Loan, Business Loan, Collateral
Credit Score, Report & Analysis
Fixed Deposit, Mutual Fund, NPS, Demat A/C, SGB
General Insurance, Life Insurance, Term Insurance
Stocks, IPOs
Smart Phone, Speaker, EarPhone
Academy 
