What is a PAN Card and its use? Is it Vital to Make EMI Transaction?

PAN stands for Permanent Account Number and is the most important financial document in India. If you want to know about what it is and if it’s necessary for EMI transactions, then here is a quick post!

The Permanent Account Number is a mode to recognize taxpayers in India. 

It is a 10-digit identification number, which is a mixture of both numbers and alphabet. It is assigned to those individuals who pay tax. But, people who do not pay tax also can apply for a PAN Card. It can be used as proof of identity. It contains the name, date of birth (DOB) as well as photographs. 

PAN Card is valid for a lifetime, and it does not get affected by any change in the address. 

You should know that PAN number is compulsory in the process of knowing your customer details (KYC). If you don’t have a valid PAN number, then it may be possible that you are not able to get the registration done and may not be able to avail the EMI facility.   

Hence, if you are looking to buy any product on EMIs without hassles, then you must have a PAN Card with you. Once done, you will be able to complete the KYC procedures and avail of the EMI facility and buy products without budget blues.