Instant Personal Loan: Do you know that you can get an instant personal loan with just Aadhaar and PAN card? Yes, you heard it right. With just Aadhaar and a PAN card, you can get quick approval with minimal documentation. So, let’s now understand the process of getting an instant personal loan, including the eligibility criteria, application steps, and approval process.

Earlier, to get a loan from a bank, you had to visit the branch with a stack of documents and make multiple trips. However, in the digital age, you no longer need to go through that hassle. Now, all you need is your Aadhaar and PAN card, and the lender can deposit the required loan amount into your bank account within an hour.

What is an Instant Personal loan?

An instant personal loan with Aadhaar and PAN allows you to borrow money quickly through a completely digital process. Lenders process the loan fast, sometimes within minutes, especially when you apply through smart platforms like Buddy Loan. These platforms connect you with trusted lenders who require less documentation and offer faster approval. You can apply for the loan using just your Aadhaar and PAN. Lenders design this type of loan to be fast, paperless, and hassle-free. It helps you get money urgently when you need it.

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Why only Aadhaar and Pan Card?

With Aadhaar, you complete your e-KYC. Then, the system uses an OTP to instantly verify your address and identity. Meanwhile, PAN allows lenders to access your credit history and financial information. After that, lenders review these details and may use digital verification techniques to expedite loan processing.

Moreover, you can apply for a quick loan on your phone. You use your PAN card to apply and your Aadhaar card to complete e-KYC. In addition, you do not need to provide collateral. The lender conducts the entire process online. As a result, you can apply using your phone, and the lender transfers the funds into your account within twenty-four hours or less. However, in some cases, the lender may request salary slips or bank statements.

Eligibility:

Indians must be between the ages of 21 and 58, with some even reaching 60 or 65. Both self-employed and employed individuals with monthly incomes between Rs. 15,000 and Rs. 30,000 are eligible to apply. Additionally, a credit score of 700 or higher is ideal. However, low or original scores are not accepted by all digital lenders.

Application Process:

In the application process, you need to enter your name, email address, PAN, Aadhaar, and mobile number on the lender’s website or app. Use Aadhaar OTP verification to finish e-KYC. Upload your PAN information. Some only request a number, while others request a picture. Find out how much of a loan you can get. Decide on the tenor and loan amount. Accept the terms online. Once everything is finished, the funds will be transferred to your account.

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