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Know How To Get A Loan On Aadhar Card

 

When you are under sudden financial stress, the first thing you want is instant money. In such situations, getting a secured loan can be hectic as it is a lengthy process and usually takes more time. So, getting a personal loan will come in handy as it is an unsecured loan. You can get a personal loan with minimum documents and in just a few hours.

 

Did you know how to get loan on Aadhar Card? Well, the answer is yes! You can get a personal loan just by using your Aadhar card. The reason is because your Aadhar card acts as a proof of your identity and helps you get loans, open bank accounts, buy SIM cards, get a PAN card and file Income Tax Returns.

 

Importance of Having An Aadhar Card

  1. It is an identity for every Indian citizen.
  2. It can be used as your address proof, identity proof and age proof.
  3. You can avail several Government schemes and services without the help of any middlemen.

 

Why Is an Aadhar Card Required For a Loan?

Whenever you apply for a loan, lenders ask you to submit your KYC documents such as your Aadhar card, PAN card, etc. And since your Aadhar card has your biometric details such as your fingerprint and your iris, the KYC verification process will become quick and simple.

Eligibility Criteria for a Personal Loan

Before you apply for a personal loan, make sure that you satisfy the following eligibility criteria.

  1. You must be above 21 years old.
  2. You should be a citizen of India
  3. The applicant must be employed or self-employed.
  4. You must have a good credit score above 750.
  5. Should have a consistent flow of income with minimum of Rs.21,000 per month.

Steps to Get A Personal Loan On Aadhar Card Online

  1. Visit the official website of the bank or lending institute and Login.
  2. Enter all the required information including personal and professional details.
  3. Choose the purpose of applying for your loan.
  4. Now submit your Aadhar card for KYC verification
  5. Once the verification process is complete, you will get your loan amount to your bank account within 24 to 48 hours.

Final Note

The Aadhar card is one of the most essential documents when it comes to getting loans. You can easily get a personal loan with your Aadhar card as it is the base for your KYC verification. So if you want to apply for a personal loan, you can do so by using Buddy Loan. It is one of the largest loan aggregators that helps you get personal loans at low interest rates from top trusted lenders.



on September 12 at 6:12

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