50000 Loan on PAN Card
Last updated: May 25, 2022, 06:05 AM ISTPAN card (Permanent account number) is a unique identification number consisting of 10-digit alphanumeric characters and is assigned to all taxpayers in India. It is one of the ways of tracking the financial transactions of Indian citizens. Hence, a PAN card is one of the most mandatory documents when applying for an instant personal loan in India.
Besides, to get a personal loan, Aadhar and PAN cards are the most critical documents made mandatory by the government of India for all entities. With online loan procedures to avoid scams and fraud, Aadhar and PAN cards are essential for borrowers to analyze and evaluate their creditworthiness. It is a necessary document for identity proof and address proof. A PAN card is used for many purposes, such as:
- IT returns filing
- Opening a bank account
- Applying for a debit or credit card
- Proof of identity
Hence, when it comes to taking a loan of 50000 on a PAN card, it is considered a necessary document. So, if you are one of them looking for 50000 loans, you need to apply for mini loans or instant loans. Several financial institutions and NBFCs offer short-term loans for Rs.50,000 on a PAN card. Instant personal loans are unsecured and collateral-free. It is typically designed for young professionals and self-employed individuals who aim to achieve the things they desire to acquire correctly.
Features & benefits of 50000 personal loan on PAN card
Collateral freeYou do not have to offer any valuable assets as pledging since a PAN Card instant loan is an unsecured form of credit
Instant approvalGet quick approval within seconds after completing simple eligibility criteria set by the lender
Flexible repayment loan tenureYou can pay up to a personal PAN card loan over 24 months or more per the lender's policy. The tenure may differ from lender to lender. Use a personal loan EMI calculator to plan and evaluate your other monthly expenses and obligations.
Instant disbursalThe 50000-loan amount will get disbursed within a few working hours directly into your bank account
Simple documentation processNo physical documentation is required while applying for 50000 personal loans on a PAN card. All the loan process is done online through the instant loan app.
Hidden chargesKnow the charges related to an instant loan of Rs.50000 by reading clear terms and conditions levied by the lender
Affordable interest rateYou can get a loan of Rs. 50000 at a lower interest rate than credit loan interest rate. So, taking a personal loan with a PAN card will be profitable for you on less interest rate and processing fees.
Eligibility Criteria for 50000 PAN card loan
To meet the simple eligibility criteria, you need to follow the below-mentioned eligibility criterion for getting 50000 loans on a PAN card
- Your age should be between 21 – 58 years
- You must be an Indian Citizen
- You should earn a minimum income of Rs.15,000 monthly
- You must provide relevant documents details
- You should have at least 6 months' work experience
- You should be an either salaried or self-employed professionals
Required documents for PAN Card 50000 Loan
The documents required are hassle-free, and thus, it becomes easy to apply for a loan.
The document records needed are as follows:
- Identity & Address Proof – Aadhar card/PAN card
How to apply for a 50000 loan on a PAN card?
Below listed are the simple steps to apply for a 50000 instant loan online on a PAN card:
- Download the loan app from Google Play Store on your smartphone
- For OTP verification, register your mobile number or email ID
- Evaluate your loan amount, EMI, and tenure on the personal loan EMI calculator for planning as per your budget
- Provide your Aadhaar and PAN card details for your personal and financial verification
- Fill in the online application form with personal and employment details
- Once the verification process ends, the loan gets approved and disbursed directly into your account
SimplyCash is one such instant cash loan app powered by Hero FinCorp, offering a loan amount starting from Rs.50,000 up to Rs.1,50,000 on PAN card and Aadhar card with flexible repayment tenure and an affordable interest rate of 2.08% per month.