Yes, you can very much get a loan without a PAN card.
PAN card is, of course, a necessary document while applying for loans. PAN card allows lenders to determine your financial status, repayment capacity and any kind of defaults in the past.
But there are other acceptable documents you can submit in place of PAN while applying for a loan.
- Aadhaar Card: You can submit your Aadhaar card instead of your PAN card. It serves as a valid document while applying for loans.
- Your bank statements, salary slips and IT returns: You can submit your latest bank account statement and IT returns to establish your income.
Other options to apply for a loan without a PAN card:
- Apply with private online lenders: You can submit other valid KYC documents, without your PAN card, at these lenders.
- Apply for loans less than Rs. 50,000: PAN is mandatory for transactions above Rs. 50,000. So, when your loan amount is less than Rs. 50K, the lender may not urge for a PAN card.
Though the lender may excuse you from submitting your PAN number, they will insist on a credit score - of 750 and above
Your Debt-to-Income ratio must be on the lower side to get a loan