PAN Card: Personal loan is an extremely useful tool for handling any urgent situation in difficult times. But usually it takes a lot of effort to get a personal loan. In such a situation, PAN card can make the work easier. You can take a loan up to Rs 50,000 with the help of PAN card. 

PAN is an essential document

In today’s time, the use of PAN card has become most important for every financial work. It is one of the essential documents for opening a bank account, taking a loan, and filing income tax returns. PAN is also mandatory while doing heavy transactions.

CIBIL score plays an important role

With the help of PAN card details, banks or NBFCs (Non-Banking Financial Corporations) can check your CIBIL score. With the CIBIL score, the bank or NBFC gets the details of your past transactions. If your past transaction record is good then your CIBIL score will be good and your chances of getting would be high too.

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PAN can help you to get the loan

With the help of PAN card, you can easily get a loan of up to Rs 50,000. Banks give loans up to Rs 50,000 on the basis of a good CIBIL score without any collateral. Banks do not provide loans with big amounts by just checking CIBIL scores. You need to apply for a personal loan, if you want a big amount loan. 

Eligibility for loan

To get a loan with the help of PAN card, you need to submit some documents. You must have at least two years of work experience to get a loan. Whether you work in a company or have your own business, your credit score should be better. You will be eligible to get the loan only if you have a good credit score.

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