Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Importance of PAN Card

A PAN Card is a very important piece of document that is required during making any high-value financial transactions like purchasing a car or house, investing in the stock market, or when you take out a loan. It is mandatory by the tax laws and is issued to prevent tax evasion by individuals, entities as it records all financial transactions.

For lenders, a PAN Card helps to assess the risk profile of borrowers, creditworthiness and whether they can repay the loan timely or not.

Govt Rules Regarding Linking PAN CARD with BFSI Products

Under the new rules of the Finance Act, 2021, you need to furnish PAN Card to be able to perform the following tasks:

  • To open a bank account
  • To open a Demat account
  • Applying for credit/debit cards
  • To avail of a loan  

PAN is important to access the various financial services from Indian banking channels and RBI guidelines also state the use of PAN for verification of borrowers. It is mandatory for all borrowers, including for personal loans.

Therefore, to avail of a personal loan from SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.), a PAN card is required. Alternatively, you may provide your 10 digit PAN in the online application form, and then submit other valid documents such as Voter-ID, Ration Card, etc. as identity proof.

Personal Loan Without PAN Card

As per the government guidelines, you cannot get a personal loan without PAN. Ideally, your PAN should be linked with your bank account as well as Aadhaar card for speedy verification, so that your loan approval could be obtained faster.

If someone offers a personal loan without a PAN Card, it could mean they're unregistered players in the market or belong to the unorganised sector. Usually, the rate of interest on a personal loan from such players is higher and in case of default, the borrower will end up in deep trouble.

Also, there are higher chances of getting scammed, if the lender offers personal loans instantly without proper documents including the PAN Card.

What to do if you don't have a PAN Card and need a personal loan?

PAN Card is mandatory to access any financial products including personal loans and if you don’t have it, you need to apply for one to get easier access to finance and a range of other financial products.

The application for issuance of a PAN Card can be made both offline and online. The process is very simple, and will not take too much time.

Online application of issuance of new PAN Card can be made either through the portal of NSDL or the portal of UTIITSL.

The charge for the issuance of a new PAN Card is Rs 94, excluding GST which can be paid through debit/credit or net banking. 

For the offline process, you need to download Form 49A from NSDL or UTITSL and submit the filled-in application form along with relevant documents to the nearest NSDL or UTITSL PAN service centre. 

Alternatively, you can ask a family member who has a PAN card, a good credit score and stable income to apply for a personal loan on your behalf. In such cases, the burden of repayment will fall upon the family member.

Apply for Instant Personal Loan Online

After receiving your PAN Card, you can easily apply for an instant personal loan online. Using the personal loan eligibility calculator, you can know the maximum loan amount you can borrow as a personal loan and the approx. rate of interest.

The following are the documents required for a personal loan: 

  • 10 digit PAN
  • Proof of Identity (PAN card. Aadhaar card, Voter-ID, etc.)
  • Proof of Address (Aadhaar card, Utility Bill, Driving License or any other relevant document)
  • Past 3 months’ salary slip (for salaried applicants) or income statements (for self employed applicants)
  • Past 6 months bank statements  

Use the personal loan EMI calculator to explore different loan repayment tenures and select the most suitable one based on your repayment capability. Using a personal loan eligibility calculator to estimate the maximum amount you can get, and then applying for an amount less than or equal to this estimate increases the chances of approval of your personal loan application.

Calculate your EMI  

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

Reasons to buy

You can take our personal loan for a variety of reasons.

Wedding Expenses

Wedding Expenses

Higher Studies

Higher Studies

Exotic Vacations

Exotic Vacations




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