When in need of money, getting a personal loan can come to your rescue to help you cater to urgent financial needs. A personal loan being an unsecured form of credit does not require you to keep any security to get the loan amount. Instead, the application and the loan amount are processed based on your credit eligibility and credit score. When applying for a personal loan, lenders in India require you to submit a list of documents for verification purpose. The documents required for personal consist of your address proof, identity proof and income documents which have to be submitted at the time of loan application. One of the important documents that has to be submitted at the time of loan application is PAN card.

What is a PAN card?

PAN card also known as permanent account number is a 10-digit alphanumeric number that can be used to track an individual’s financial transactions. These transactions can include investments made in mutual funds, insurance policies, number of credit cards you hold, salary credits, loan accounts and others. In India, the card is issued by the Income Tax Department of India and also serves as an identity proof that can be used when applying for a personal loan.

Importance of PAN card in getting a personal loan

To get a personal loan in India having a PAN card is essential. Your loan application can stand to be rejected if you don’t have a PAN card. Few lenders in India also offer loans up to Rs. 50,000 without a PAN card, whereas few lenders only proceed with your application on submission of the 10-digit number. Since the 10digit PAN card number makes it easy for lenders to verify the details of your finances, the submission of the same is considered imperative. The PAN card helps lenders verify all your financial details, thereby making it easy for them to assess your personal loan eligibility. PAN card is also an important document that has to be submitted at the time of securing secured loans like car loan, home loan, two-wheeler loan and others.

How to get personal loan without PAN card?

To get a personal loan without PAN card is not easy. However, you can try the below ways to secure the loan without the 10-digit card.

Have a high credit score: To get a personal loan in India, it is important that you have a good credit score. 

Submit your bank statement: Check for pre-approved offers: Few lenders in India offer you personal loans without any documentation. If you have a good credit score and have been associated with the lender since a long time, then you can check for pre-approved offers to be able to secured a loan. 

How to apply for PAN card?

Application for PAN card can be made online either through NSDL website

  • Click on apply online

  • Enter application type-New PAN-Indian Citizen Form 49A, New Form-Foreign Citizen (Form 49AA)

  • Select the category of the PAN. You can choose from individual, company, trust or limited liability partnership type

  • Proceed with filling your personal details i.e. your name, date of birth, mobile number and other details.

  • Continue with authentication of your identity which can be done by verifying Aadhar details online, submitting physical documents or scanned copies of the documents online.

  • If authentication is done via Aadhar then proceed with entering details like your Aadhar number, name and others

  • Further go ahead with selecting your assessing officer code-Indian Citizens, Defence employees, government or NRI citizens

  • Under the AO code, select state and area of residence. Select the category that best applies to you. Choose from companies, non-salaried, government servant and private sector employees.

  • Select the documents you have submitted as age and address proof

  • Now you will be directed to make the payment. Application fee for PAN card is generally between Rs. 100- Rs. 200.

  • On making the payment, you will have to authenticate Aadhar via OTP or submit documents online or send physical documents to NSDL. You will receive an acknowledgement of your application via email and the PAN card will be delivered to your registered residence address within 15-30 working days. 


PAN card is one of the most important documents that you should have along with the other list of personal loan documents that have to be submitted to ensure your loan application is not rejected. The 10-digit payment number reflects your financial transaction history that helps lenders assess your application and determine your loan eligibility. Therefore, without this document the lender would not be able to proceed ahead with your application. With digital advancement, you are no more required to submit physical copies of personal loan documents as you can upload the same online on the lender’s app or website. There are also few lenders in India that offer loans simply on the basis of PAN card, however, the interest rate for such loans is high as high risk is involved.


Published by Lavismichel Inkel