Getting a small loan of ₹10,000 from a traditional lender may not be a viable option because of the long-drawn and complex documentation and validation process. However, there are many new-age lenders who may be willing to offer ₹10,000 loans on PAN cards. These unsecured loans are popular because they can be availed without collateral and with minimum documentation.
So, if you are looking for ways to avail a ₹10,000 loan on your PAN card, here’s everything you need to know before you apply for the loan.
The loan application process is simple and hassle-free. You can apply for the loan online or through a mobile app. The application process usually takes no more than a few minutes.
The documentation required for a ₹10,000 loan on a PAN card is usually minimal. While most lenders will only ask for your PAN or Aadhar card details, some may ask for additional documents, such as employment proof, income records, and more.
Once your loan application is approved, the loan amount is disbursed quickly into your bank account. The time taken to disburse the funds may take between a few minutes and a few days.
The interest rates for a ₹10,000 loan on a PAN card are usually affordable and competitive. You can compare the interest rates offered by different lenders and choose the one that suits you best.
You can choose a repayment term that suits your financial situation. Most lenders offer flexible repayment terms ranging from a few months to a few years.
You can use the loan for any purpose, such as paying bills, buying groceries, or meeting medical expenses.
A ₹10,000 loan on a PAN card is an unsecured loan, which means you don’t need to provide any collateral or security to avail the loan.
|21 years to 60 years
|650 and above
|Rs. 15000 per month. It can vary from lender to lender.
|At least 2 years (could vary from lender to lender)
Some lenders may ask for additional documents such as:
|9.9% p.a. onwards
|Bajaj Finance Limited
|12.99% p.a. onwards
|11.99% p.a. onwards
|13.75% p.a. onwards
Suppose you took a loan of ₹10,000 for 1 year at an interest rate of 13%.
Then, you will have to repay a total of ₹10,716 in total, with the interest component being ₹716. Your monthly EMIs will be ₹893.
Rate of Interest (P.a)
Loan Tenure (Months)
It’s essential to read and understand the terms and conditions of the loan before you apply. Carefully evaluate your financial situation and determine the loan amount you need. Ensure you know the interest rate, repayment terms, and any fees or charges associated with the loan.
Many lenders in the market offer PAN card loans. Do your research and choose a reputable lender who offers transparent terms and conditions, competitive interest rates, and reasonable repayment schedules.
Your credit score plays a significant role in determining whether you’re qualified for a loan and what interest rate you’re offered. Before you apply, check your credit score and take steps to improve it, if necessary.
Getting a ₹10,000 loan on your PAN card could be a quick and convenient way to avail of emergency funds or to meet unplanned expenses. However, please compare the interest rate, repayment schedule, and fees and charges before you pick a lender. A lender that you can trust. Like Navi. Simply download the Navi App to apply for an online Personal Loan up to ₹20 Lakh, starting at an interest rate of 9.9% p.a. You can also choose flexible tenures of up to 72 months.
Yes, anyone with a valid PAN card and who meets the eligibility criteria set by the lender, can apply for such a loan.
The eligibility criteria for may vary from lender to lender. However, in general, the borrower should be at least 21 years of age, have a valid PAN card, and have a source of income.
Visit the lender’s website or download the mobile app. Check your eligibility, and complete the application form and the e-KYC process with your PAN. Link your bank account and set up auto-debit. Upon approval, the loan amount will be transferred directly to the bank account.
The time to get a ₹10,000 loan on a PAN card approved and disbursed may vary from lender to lender. However, in general, the loan processing time is quick, and you can expect some lenders to get the loan amount credited to your bank account within even a few minutes of loan approval.
The interest rate may vary from lender to lender. However, the range could be between 9% p.a. and 45% p.a.
No, you do not need to provide any collateral or security. Instead the lender will use your creditworthiness to evaluate your eligibility.
Yes, you can prepay the loan before the due date. However, some lenders may charge a prepayment penalty for early repayment of the loan. It is recommended to check the terms and conditions of the loan agreement document before making any prepayments.
PAN Card for Minors: Process, Benefits and Documents RequiredMost Indians believe that a PAN (Permanent Account Number) card can only be obtained by individuals... Read More »
What is AO Code for PAN Card and How to Find it Online?The AO (Assessing Officer) code is a string of characters that is used to identify the Assessing Of... Read More »
PAN Card Status – Track and Check UTI PAN Status OnlineA Permanent Account Number is a unique identification number that all Indian taxpayers must have. T... Read More »
Duplicate PAN Card: How to Apply for Lost PAN Card?A Permanent Account Number (PAN) is a crucial document that is required for several financial trans... Read More »
₹20,000 Loan on PAN Card – Check Eligibility & Apply Now!If you are looking for a personal loan and don’t want to go through the hassle of a lengthy docum... Read More »
₹50,000 Loan on PAN Card – Check Eligibility & Apply Now!If you require money to cover an unexpected expense or to meet a cash shortfall, a personal loan ca... Read More »
How to Check PAN Card Delivery Status – Online ProcessMr Kumar has recently applied for a PAN card. He needs it on an urgent basis as without this docume... Read More »