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Can I Take a Loan Without a PAN card?


  • Want to apply for a loan but don’t have a PAN Card with you?
  • Don’t worry, you can get the loan but with some conditions - read this to know the same!

A PAN card is one of the identity proofs that lenders seek to approve loan applications. Although there are substitutes to this identity proof in the form of Voter ID, passport, driving license and aadhaar card, lenders keep PAN card as mandatory for accessing loans. Home loans can’t be believed without a PAN card. And, as far as personal loans are concerned, the rule remains the same. However, there’s a silver lining for you! In case you are applying for personal loans below INR 50,000, you can apply without a PAN card. But that also depends from lender to lender, some may insist you to submit the said document. Since the minimum personal loan is INR 50,000 at most banks across India, you may ask – how will the earlier statement saying a loan approval without a PAN card for cases below INR 50,000 be true?

Well, you can get a loan below INR 50,000 at a bank where you already have a banking relationship. Suppose you have a credit card of a certain bank and have paid dues on time, don’t be surprised to grab pre-approved personal loan offers. You won’t have to submit any documents for the same. Other than that, there are loan Apps that can provide you mini loans. Let’s start discussing such apps.

Loan Apps & Their Offerings

Loan AppsMinimum Loan AmountMaximum Loan AmountInterest Rate (Per Annum)TenureWho is EligibleMinimum Monthly Income Required
EarlySalaryINR 8,000INR 2,00,00024%-30%90-365 DaysSalariedINR 18,000 (Metro Cities)
INR 15,000 (Non-metros)
PaySenseINR 5,000INR 5,00,000Around 26.50%3-36 MonthsBoth Salaried & Self-employedSalaried - INR 12,000
Self-employed - INR 15,000
CASHeINR 9,000INR 3,00,00033%-36%2-12 MonthsSalariedINR 15,000 - INR 40,000
MoneyTapINR 3,000INR 5,00,000Starts from 15%2-36 YearsSalaried & Self-employed professionals like doctors, lawyers, shop ownersINR 20,000

Note – You could still be asked to quote your PAN number in the application form.

How to Apply at EarlySalary?

  • Download and register yourself on the EarlySalary app
  • Fill the basic details such as your name, mobile number, etc
  • After filling all such details, you will get to see whether the loan is approved or not
  • Upload your KYC documents on the app and also state the amount you wish to get in your account as a loan

Steps to Follow While Applying at PaySense

  • Download the PaySense App from Google Play
  • Enter basic details such as your name, gender, date of birth, mobile number, email address to check your loan eligibility
  • Upload the KYC documents to get the loan approved
  • Once approved, you will get it disbursed to your account

Loan Application Steps at CASHe

  • Download the CASHe app
  • Fill your details
  • Submit your KYC documents and know your loan eligibility
  • Once the loan is approved, you will get the disbursal in a few hours
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MoneyTap Loan Application Process

  • Download the MoneyTap credit line app and register details such as your age, city, income, etc
  • After that, a pre-approved line of credit will be shown to you
  • You need to upload your KYC documents
  • After successful authentication, the approved limit will be disbursed in your account

Do These Loan Apps Provide You Funds on their Own?

Now, this can leave you in a bit of a surprise! Let us reveal the secret by saying that these apps tie up with banks and non-banking finance companies (NBFCs), so there are more than two parties involved in the transaction. The executive of the concerned bank or NBFC will collect the documents in a few hours from submitting the application. The lender will quickly go through the documents and approve the loan if satisfied with the accuracy of the details.

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Personal Loan Interest Rates October 2021
Fullerton India14.00% - 24.00%
HDFC Bank10.25% - 17.00%
ICICI Bank10.50% - 17.50%
IndusInd Bank11.00% - 23.00%
Kotak Bank10.75%
RBL17.50% - 26.00%
Standard Chartered Bank11.00% - 12.50%
Tata Capital10.49% - 14.25%
Home Loan Interest Rates October 2021
Axis Bank6.75% - 7.20%
Bank of Baroda6.75% - 8.25%
Citibank6.65% - 7.40%
HDFC6.70% - 8.00%
ICICI Bank6.70% - 7.55%
Indiabulls Housing Finance Limited8.65%
Kotak Bank6.50% - 7.25%
LIC Housing6.66% - 7.90%
Piramal Capital & Housing Finance9.65%
PNB Housing Finance7.20% - 8.90%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI6.70% - 6.90%
Tata Capital6.90% - 8.75%