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How To Get Loan With only Aadhaar and PAN Card in 2024

How To Get Loan With only Aadhaar and PAN Card in 2024

“Document less Loan: How Aadhaar Card and PAN Card Can Get You the Money You Need”

In today’s fast-paced world, we often need emergency cash for a variety of reasons, from medical emergencies to unexpected expenses.

In such circumstances, getting a loan from a conventional bank is a long and tedious process with the need for many documents and other formalities.

How To Get Loan With only Aadhaar and PAN Card in 2024

How To Get Loan With only Aadhaar and PAN Card in 2024

But what if we told you that you can now get a loan without any paperwork? Yes, you read that right!

With advancements in technology, loan apps are now available that offer loans without the need for any physical documents.

How To Get Loan With only Aadhaar and PAN Card in 2024

And the best part? All you need is your Aadhaar Card and PAN Card. Let’s dive in to know more about this hassle-free way of getting a loan.

What is undocumented loan?

As the name suggests, a document less loan is a type of loan where you don’t need to submit any physical documents to get the money.

This type of loan is offered through various online lending platforms that use advanced technology to verify your identity and other details through digital means.

These apps offer loans based on your credit score and eligibility criteria without the need for any physical documents like proof of income or bank statements.

How does it work?

These loan apps use your Aadhaar card and PAN card details to verify your identity and other personal information.

How To Get Loan With only Aadhaar and PAN Card in 2024

How To Get Loan With only Aadhaar and PAN Card in 2024

After you download the app, you need to enter your personal details and upload scanned copies of your Aadhaar card and PAN card.

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The app uses these details to retrieve your credit score from credit bureaus like CIBIL, CRIF High Mark etc.

Based on your credit score and eligibility criteria, the app will offer you a loan amount, which you can choose to approve or decline.

If you agree to the terms and conditions, the money will be credited directly to your bank account within a few hours or minutes depending on the app’s approval process.

Why Aadhaar Card and PAN Card are required?

Aadhaar Card is a unique identification number issued by the Government of India that contains your biometric and demographic information.

How To Get Loan With only Aadhaar and PAN Card in 2024

On the other hand, PAN Card is a unique 10-digit alphanumeric code issued by the Income Tax Department that is used for all income related transactions.

As these two cards contain vital personal information, they act as valid proofs of identity and address, which are required to get a loan without documents.

Why Choose Document less Loan?

  1. Hassle free process: The biggest advantage of a document less loan is that it saves you from the lengthy process of document verification and submission.
  2. You can complete the entire loan application process from your home without any physical documents.
  3. No Credit Score Damage: Every time you apply for a loan, it reflects on your credit report, affecting your credit score.
  4. With no physical document required, you can apply to multiple lenders without worrying about damaging your credit score.
How To Get Loan With only Aadhaar and PAN Card in 2024
  1. Instant Approval: As the loan app uses advanced technology to verify your details, the approval process is much faster as compared to conventional loans.
  2. You can get money in your bank account within minutes, making it a perfect option for emergencies.
  3. No Salary Slip Required: Most loans require you to submit salary slips as proof of income.
  4. But with a document less loan, you don’t have to worry about providing such proofs.
  5. This makes it easier for self-employed people or people with no regular income.
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What are the eligibility criteria?

To qualify for a no-documents loan, you must:

  • Be an Indian citizen
  • Must be above 18 years of age
  • Valid Aadhaar Card and PAN Card
    Have a
  • Good credit score
    Have a

Things to keep in mind before applying for a loan without documents:

  1. Interest Rates and Processing Fees: It is essential to compare the interest rates and processing fees of various loan apps before choosing one.
  2. High interest rates and processing fees can make your loan more expensive in the long run.
  3. App Reliability: With the rise of online scams, choosing a reliable and trustworthy loan app is crucial.
  4. Before applying for a loan, do a thorough research on the app’s reviews, ratings and reputation.

How To Get Loan With only Aadhaar and PAN Card in 2024

How To Get Loan With only Aadhaar and PAN Card in 2024
  1. Repayment Terms: Make sure you understand the loan repayment terms and conditions before accepting the loan offer.
  2. Late payments or defaults can affect your credit score and lead to additional charges.

How To Get Loan With only Aadhaar and PAN Card in 2024

The end

Document less loan is a boon for those who need emergency cash without paperwork.

With just your Aadhaar Card and PAN Card, you can get the money you need within minutes.

However, it is important to be careful and choose a reliable loan app to avoid unwanted consequences ok So, the next time you need quick cash, remember that your Aadhaar Card and PAN Card can save you!

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