Personal Loans Without a PAN Card - Is it a Good Idea?

Instant personal loans play an integral role in bridging the gap between people and their immediate need for cash.

Many banking and non-banking financial companies offer digital loans that are convenient, hassle-free and require no documentation.

All you have to do is submit basic information like your name, monthly income, and PAN to apply for a personal loan.

According to the regulatory practices of the RBI, it is mandatory for you to submit your PAN. This allows the lender to assess your credit profile, determine your credit worthiness and give you an appropriate loan offer.

However, there are a few NBFCs that offer personal loans without a PAN. They ask for other alternatives like bank statement, Aadhaar card and permanent address proof.

Read More: Why Opting For an NBFC Personal Loan is a Better Option?

Personal Loan Without PAN Card

Most lenders require a PAN card to approve you for a personal loan. While there are lenders out there who offer a personal loan without PAN, they require some alternate documents.
This is a list of documents that can act as an alternative to your PAN card

  • Aadhaar card
  • Driver’s license
  • Passport
  • Voter ID

Please note that the documents required can vary from lender to lender. Check the requirements of the lender before starting your loan application.

Read More: Documents Needed for Personal Loan

Eligibility Criteria for Online Loan Without a PAN Card

To get a personal loan without a PAN card, you need to meet the eligibility criteria of the lender. These are some common requirements that most lenders follow:

1. You should be 18 years or above.

2. You should have a valid Aadhaar card, passport, or voter ID .

3. You should have a stable source of income.

4. You should have a good credit history.

Note: The eligibility criteria may be different for different lenders. It’s best you confirm the eligibility criteria of the lender before applying for a loan.

Read More: Personal Loan Eligibility

But is it a good idea to take personal loans without a PAN card? Here are the pros and cons.


1) Flexibility for Non-PAN Holders

If you don’t have a PAN card or are a student who urgently needs money, then such lenders can help you out. The absence of your PAN won’t stop you from getting instant access to the money you need.


1)   It Could be a Chinese Loan App

If your lender is giving you a personal loan without PAN, then there is a possibility that it could be a Chinese loan app and it’s best to avoid it.

Chinese loan apps are fraudulent apps that target low-income groups and offer low-ticket loans at a very high interest rate.

Such lenders don’t follow any regulatory guidelines of the RBI, engage in abusive practices for quick recovery and misuse your personal information to threaten you.

2)  You might End up Paying a Very High Interest Rate

If you are getting a loan without a PAN, then you could be seen as a high-risk borrower. This might increase the chances of you getting a loan at a higher interest rate and processing fee.

3)  Your Lender won’t be Able to Report Any of Your Loan Activity to the Credit Bureau

Your PAN card is linked to the credit bureau that helps you create a repayment history.

This means if you take a personal loan without PAN and repay all your EMIs on time, it won’t reflect on your credit profile.

This way you won’t be able to improve your credit score and face a lot of difficulty in creating a credit history.


Yes, personal loans without PAN seem like a convenient option when you don’t have the documents you need, but it is more important to take loans from a secure and credible lender.

Make sure you take personal loans from a genuine Fintech platform like Zype.

Frequently Asked Question

Can I Get A Loan Without A Pan Card?

Yes, you can. There are many lenders out there who offer personal loans without a PAN card. However, taking a loan from lenders who require a PAN card is a much safer lending option.

How Long Will It Take To Get A Loan Without A Pan Card?

The time taken to get a loan without a PAN card depends on the lender you’re choosing.

Can I Get A Personal Loan From Zype Without A Pan Card?

No, a PAN card is a mandatory document to complete your credit line application on Zype.

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