How to Get ₹5,00,000 Personal Loan Using PAN Card in India



In today’s digital lending ecosystem, obtaining a personal loan of ₹5 lakh has become seamless—especially when using your PAN (Permanent Account Number). This 10-digit alphanumeric identifier, issued by the Income Tax Department, plays a critical role in verifying your creditworthiness and streamlining KYC processes.

Importance of PAN Card in Loan Application

PAN serves as an essential KYC document that offers lenders visibility into your financial behaviour. It is now mandatory to link PAN with all bank accounts and Aadhaar cards, enhancing security and authentication while applying for loans. When linked with Aadhaar, PAN simplifies the verification process, often enabling instant loan approvals within 24 hours.

Eligibility Criteria for ₹5 Lakh Loan on PAN Card

To apply for a ₹5 lakh loan using your PAN card, you must meet the following eligibility parameters:

  • Must be a citizen of India

  • Age between 21 to 60 years

  • Must possess a valid PAN card

  • Should have a regular source of income (salaried or self-employed)

  • Must hold a good credit score

  • The debt-to-income ratio (DTI) should be under control (preferably below 40-50%)


What Is Debt-to-Income Ratio (DTI)?

The DTI ratio measures your monthly debt payments against your gross income. A lower DTI indicates lower credit risk.

Example:

  • Gross Monthly Income: ₹50,000

  • Monthly Housing EMI: ₹15,000

  • Monthly Car EMI: ₹8,000

  • Credit Card Payment: ₹5,000

Total Debt Payments = ₹28,000
DTI = (₹28,000 / ₹50,000) x 100 = 56%

A 56% DTI reflects a relatively higher credit risk. Lower ratios improve loan approval chances.

Required Documents for PAN Card Loan Application

Below are the documents typically required when applying for a PAN card-based personal loan:

  1. Identity Proof – PAN Card, Aadhaar Card, Passport, Voter ID, or Driving License

  2. Address Proof – Aadhaar, Passport, Driving License, Voter ID

  3. Bank Statements – Last 3 months

  4. Income Proof – Latest 2 salary slips or Form 16 (for salaried individuals)

Key Features of PAN Card Personal Loan

  1. Simple Online Application
    Fill in your personal and PAN details on the lender’s platform.

  2. Instant Approval
    Approval can happen within 24 hours if PAN and Aadhaar are linked.

  3. Minimal Documentation
    Primarily PAN and Aadhaar are required.

  4. Competitive Interest Rates
    Interest rates vary by lender; comparison is key.

  5. Flexible Tenure
    Choose between 6 to 96 months repayment terms.

How to Apply for a ₹5 Lakh Loan Using PAN Card (Online)

Step-by-Step Guide:

  1. Compare lenders online (interest rates, tenure, reputation).

  2. Visit the official website of the chosen lender.

  3. Click "Apply Now" to begin.

  4. Enter your mobile number and verify with OTP.

  5. Fill the application with PAN number, DOB, name, and PIN code.

  6. Select loan type (Term Loan, Flexi Term, Flexi Hybrid).

  7. Enter desired loan amount (up to ₹5 lakh).

  8. Choose repayment tenure (6 to 96 months).

  9. Submit KYC details (PAN and Aadhaar).

Use Cases of PAN Card in Financial Transactions

Your PAN card is vital for the following:

  • Income tax payments

  • Applying for personal, home, or car loans

  • Property purchase above ₹5 lakh

  • Buying/selling a vehicle

  • Registering a business

  • Equity investments above ₹50,000

  • Opening a bank account or credit card

  • Renting or leasing high-value property

  • Starting an e-commerce venture

Things to Remember Before Applying

  • Your PAN and Aadhaar must be linked.

  • Make sure your credit score is healthy.

  • Avoid multiple loan applications within a short period.

  • Ensure all your KYC information is updated and consistent.

  • Maintain a low DTI ratio for higher approval chances.

Conclusion

A PAN Card Loan is an efficient way to access personal credit with minimal hassle. PAN acts as a reliable identifier, boosting your credibility with lenders and enabling a smooth application process. When linked with Aadhaar and backed by a stable income, your chances of securing ₹5,00,000 are significantly enhanced.

Apply smartly, maintain a good financial record, and use your PAN card to unlock instant credit when needed.


Location: Pune, Maharashtra, India

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