Check your eligibility

Most instant loan providers have certain eligibility criteria that must be met before applying for a loan. These may include minimum income, credit score, and age requirements.

Gather necessary documents

To apply for an instant loan with a PAN card, you will need to provide proof of identity, address, and income. This may include a PAN card, aadhar card, bank statement, and salary slips.

Choose a lender

Research and compare different instant loan providers to find the best interest rates and terms. Look for lenders that offer quick disbursal and minimal documentation.

Apply for the loan

Fill out the application form online or visit the lender’s branch. Provide the necessary documents and submit the form.

Wait for approval

The lender will review your application and check your credit score. If you are approved, the loan will be disbursed to your bank account within minutes or hours.

Repay the loan

Repay the loan on time to avoid late fees and penalties. Make sure you understand the repayment terms before accepting the loan.

Please note any default in repayment, will affect your credit score

Credit score

A credit score is a numerical representation of an individual’s creditworthiness, based on their credit history. It is used by lenders, landlords, and other organizations to determine whether an individual is a good candidate for credit, a loan, or a rental agreement.

Credit scores typically range from 300 to 850, with higher scores indicating a better credit history. A score of 750 or above is considered to be good, while a score of 600 or below is considered to be poor.

Credit scores are determined by a number of factors, including payment history, credit utilization, length of credit history, and types of credit used. Late payments, high balances, and multiple credit inquiries can all negatively affect a credit score.

To maintain or improve a credit score, individuals should make sure they pay their bills on time, keep their credit card balances low, and avoid applying for too many credit accounts at once.