How to Get Personal Loan Using Aadhaar Card: In today’s world, loans have become easier than ever before. In fact, did you know that you can secure a personal loan of up to ₹2 lakh using just your Aadhaar card? Yes—it’s a convenient financial option that fulfills immediate monetary needs with minimal paperwork. Here’s everything you need to know:
1. Why an Aadhaar-Based Loan?
- Zero collateral needed:
Loans based on your Aadhaar are unsecured, meaning you don’t have to pledge any property or asset. - Paperless documentation:
Aadhaar simultaneously provides proof of identity and address, making documentation clean and efficient. No need for multiple documents! - Fully digital process:
These loans are processed entirely online, from application to disbursal. Fast approvals mean funds arrive swiftly. - Accessible to all income levels:
Even if you don’t have a steady salary, you can still apply as long as you can validate your income—either through bank statements or income-tax returns
2. What Can the Money Be Used For?
These Aadhaar-based loans are personal in nature and flexible. You can use them for:
- Travel
- Weddings
- Medical treatments
- Education expenses
- Any other personal financial need
You can borrow up to ₹2 lakh, depending on your eligibility and the lender’s terms.
3. What Documents Are Required?
While Aadhaar covers your ID and address, most lenders will still ask for:
- Aadhaar card (mandatory)
- PAN card
- Bank account statement (usually last 3–6 months)
- Proof of income:
- For salaried employees: pay slips or employment proof
- For self-employed individuals: latest income-tax returns
These documents help lenders verify your financial stability and repayment capacity.
4. How to Apply: Step-by-Step
- Choose a lender – pick a bank or NBFC that offers Aadhaar‑based personal loans.
- Check eligibility – use their online eligibility calculator to verify if you qualify.
- Apply online – fill in your details, upload Aadhaar, PAN, bank statements, and income proof.
- Link mobile with Aadhaar – your Aadhaar must be linked to your current mobile number for OTP verification.
- Submit and wait – once submitted, the lender processes your application.
- Receive approval – after review, you’ll get approval and the funds will be credited.
5. How Much Interest Will You Pay?
Interest rates on these personal loans vary based on:
- Your credit score
- Income level
- Credit history
- Lender’s policies
It’s wise to compare multiple lenders to find the best rate. Be aware that lenders may also charge a small processing fee.
Final Thoughts
If you’re seeking a quick, hassle-free loan of up to ₹2 lakh, this Aadhaar-based option is smart and useful. Borrowers avoid lengthy paperwork and collateral, and the digital process makes approvals fast. Just ensure:
- Your Aadhaar is linked to your mobile number.
- You submit accurate PAN, bank statements, and income proof.
- You compare interest rates across lenders to land the best offer.
In summary, if you’re in need of timely funds, the Aadhaar-based personal loan is a powerful tool—efficient, accessible, and designed for modern convenience.
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