I don’t have a PAN card. Can I still get a four-wheeler loan at Buddy Loan?

What is a PAN number?
The permanent account number abbreviated as the PAN number is an electronic system in
which all the tax details of an individual are stored against a single ten-digit number. It is a
mandatory requirement for all taxpayers in India. Issued by the Indian income tax department
under the Indian income tax department, the number is unique to every taxpaying entity. In this
case, that is a business or an individual. PAN numbers are important as it can come of
advantage during tax deduction. Availing it via a loan aggregator can make your work easer.
Scroll for Buddy Loan, the research says they are void of scams.
The number is essential when opening a bank account, purchase, and sale of assets. The name
is unique to each taxpaying entity.
Who should apply for PAN card
 Artificial judicial persons
 Local authorities
 Limited partnership
 Association of persons
 Companies
 Any grown-up individual
 Partnership firms
 Trusts
 Mentally disabled persons (submitted by their representatives)
 Hindu undivided families
 Minors when appointed to nominee positions.
Importance of the PAN number
 Acquiring a loan
 Purchasing, Selling and renting of property
 Cash deposits
 Telephone connections
 Insurance payments
 Opening bank account
 Purchase of jewellery
 Making Investments
 Buying and selling of a motor vehicle
 Investing in shares
 Opening a trading or Demat account
The unique number is significant to the lender, especially when you are purchasing and
registering the car.

How can I get a Two Wheeler Loan at Buddy Loan?

First, check your expendable income. If, your expendable income cannot accumulate to a
substantial amount to cover the expense of the bike loan within a couple of months, consider
taking a two-wheeler loan. Buddy Loan, one of the financial aggregators have vivid option for
loan tenures starting at an interest rate of 11.99% p.a. for a two-wheeler loan. You could explore
more!
Calculate your EMI
 Choose the bike you want to purchase.
 Use the online EMI calculator to calculate your EMI
 If the calculated EMI is within 50% of your salary, then consider taking the loan;
otherwise, think twice.
 A better option is to save money, make a substantial down-payment, and reduce the
debt burden when taking a Instant two-wheeler loan online. This way, your EMI is well within 50% of your salary.
Check your Two wheeler loan eligibility
Most bank sites have a loan eligibility calculator online. Here you enter your loan requirement.
Provide your details such as PAN number, salary details, tenure, etc. An SMS is sent to your
registered mobile number, or an email is sent to your registered email ID with your eligibility
details. The bank verifies your credit score, age at loan maturity, existing loans, cheque bounce
details, etc. to calculate your eligible details.
Apply online
 After getting your eligibility details, make an online application. Scanned and signed
copies of PAN card, AADHAR card, and such KYC documents can be uploaded.
 Provide details of the two-wheeler such as RTO location, type/make of the bike, year of
manufacture, price of the bike, etc.
 Applications are approved with in 24 -48 hours. Money is disbursed in a maximum time-
frame of 3 days.
 In some cases, a bank representative can come to your office or home to take physical
copies of the documents.
Difference between a two-wheeler loan and an auto loan
Both are the same; depending on the context, an auto loan can refer to car loans or four-
wheeler loans only. However, even two-wheeler loans come under auto/automobile loans so
they can be called auto loans too.
Features of two-wheeler loans
 The loan amount ranges from Rs. 1000 to Rs. 15,00,000
 Loan tenure is a minimum of 6 months to a maximum of 60 months
 Interest rates starting at 11.99% p.a. can help you avail early
 No-cost EMI options are available.
 100% of the cost of the purchase option is available.
 Processing is easy and transparent. Constant updates are provided to the applicant.
 Flexi EMI options allow applicants to choose their EMI instead of the bank choosing a
set of EMI options for them. However, terms and conditions apply even in this process.