How To Apply Aadhar Card Personal Loan

By | September 16, 2022

How To Apply Aadhar Card Personal Loan

A personal loan of Rs 50,000 is considered a small cash loan. Like any other loan, 50,000 personal loan requires basic documentation like Aadhar card and PAN card for verification. With real-time KYC document verification, borrowers are eligible for Aadhar card personal loan of 50,000. Mobile number registered Aadhar enables easy verification between lender and borrower, which eases the loan approval process.

Submitting a loan application is no longer a tedious and time-consuming process, all thanks to the acceptance of user-friendly loan applications and websites. Hero FinCorp’s SimplyCash instant loan app is one such personal loan app that requires an Aadhar card number linked to the applicant’s mobile number. SimplyCash is a user-friendly instant loan app that follows paperless documentation and provides relief to borrowers through instant loan sanction between Rs 50,000 to Rs 1.5 lakh. This can be used to cover immediate cash needs and settle debts.

Also Read – How To Apply SBI E Mudra Loan In 2022

Steps For How To Apply Aadhar Card Personal Loan

How To Apply Aadhar Card Personal Loan

  1. Install the instant loan application on your phone or visit the loan provider’s website
  2. Register using your mobile number and email
  3. Enter the mobile number that is associated with your Aadhar card for identity and address verification
  4. Enter 12 digit Aadhar card number as KYC proof. Also enter the PAN card details
  5. Some websites may require scanned copy of Aadhar card with other income related documents
  6. After verification of the submitted documents, the approved loan amount will be credited directly to your bank account

More About Aadhar Card Personal Loan

Earlier, the scenario was time-consuming, where borrowers carried a lot of documents, waited in queues and further waited for a long time for loan approval. With the launch of Aadhar card, it is easy for many people to apply for loans online. The process has become seamless as one document serves as proof of identity, address, age and citizenship.

Students applying for education loans to study abroad should have their Aadhar cards handy. It confirms your citizenship in a foreign country, speeds up the application process and increases the credibility of the borrower.

So whether it is a personal loan of just Rs 50,000 or more, Aadhar card forms the basis of loan approval. In case you have forgotten your Aadhar card, wait for the new one to arrive and avoid applying for personal loan without Aadhar card.

Individuals with a minimum monthly income of INR 15,000 can also apply for a personal loan on SimplyCash using Aadhar card.

The built-in loan EMI calculator allows borrowers seeking 50,000 Aadhar card loans to set a suitable EMI that is not a burden to repay every month. Factors like loan amount, interest rate and tenure are the basic factors which can be moved flexibly in the calculator to get the desired EMI.

There are several instant personal loan apps available on the Google Play Store. Compare all the features/benefits/interest rate etc. and start your Rs 50,000 loan application using Aadhar card.

Also Read – What is MUDRA Bank Scheme

Benefits of Aadhar Card Personal Loan

  1. Online home loan application.
  2. You don’t have to run a lot to get a loan.
  3. You can take loan from nearest Aadhar center.
  4. You can get a loan over 10 million.
  5. High loan value
  6. Repayment is flexible
  7. Instant personal loan offers fast approval and disbursement
  8. 100% transparency

Eligibility For Aadhar Card Personal loan

To apply for a personal loan with Aadhaar card, you must meet the following eligibility criteria:

  1. You must be between the ages of 23 and 55
  2. You must be an Indian citizen
  3. You must be employed by a public or private sector company or a multinational company.

Risks of Aadhar Card Personal loan

As Aadhaar card is linked with most of the basic documents like PAN card, mobile number, bank account, it was speculated that Aadhaar card could lead to identity theft. To solve this problem, the Indian government created Virtual ID to ensure user privacy and data protection.

A user can generate a virtual ID (12 digit number) through the UIDAI website, which helps in tracing the original Aadhaar number of a person. You can create a virtual ID as many times as you want, and once you create a new ID, the previous one becomes invalid. So make sure you use a virtual ID to mitigate the risk of data theft.

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