Pan Card Update: In the era of digitalisation, the credibility of the PAN card is increasing continuously, with the help of which you can do many things. PAN card is no longer limited to filing ITR and opening an account in the bank. Other works can also be done easily with it. In this era of digital era, if you want to take a loan, then a very simple way has been made, for which there will be no need to run around.
Now, banks and NBFCs are doing the work of giving loans by checking your credit history through it. With the help of a PAN card, you can easily get a loan of up to Rs 5 lakh, so that there will be no problem. For this, it will be very important to take care of some basic things. If you want to take a personal loan with a PAN card, then first understand some important things.
On what basis will you get a loan
If you want to take a personal loan on a PAN card, then some important things will be checked on it. For this, your credit score must be at least 700. If the credit score is more than this, then the chances of getting a loan will be equally great. Therefore, before applying, definitely check the score and try to keep it above 700, so that the bank will easily approve your loan.
The loan conditions, interest rates and process of all banks and NBFCs differ slightly. Before choosing anyone, do some comparison checks, which will make it easier. Along with this, digital lenders also offer pre-approved loans by looking at your credit report related to your PAN card. You can take a loan online.
How to apply online
For a personal loan on a PAN card, you will have to understand some important things. For this, you will need to go to the lender’s website or app and select an amount of Rs 5 lakh and a tenure of 12 to 60 months.
In this, basic information like name, phone number, job details, salary, and PAN has to be entered. As soon as you enter the PAN, your credit report is automatically fetched, which makes the process very easy. For this, you also need some documents.