How to Get an Instant Personal Loan with Aadhaar Card?

If you need a quick cash infusion, an instant personal loan may be the answer. These loans are available through a number of lenders and can provide you with the money you need in as little as 24 hours. Just be sure to do your research before applying, as some lenders have higher interest rates than others.

The Aadhaar card is the latest innovation in personal loans. It allows you to borrow money without having to provide your credit score or any other personal information. This makes it a good option for people who want to borrow money but don’t have good credit or who need fast access to funds.

The following article will give you all the information you need to get an instant personal loan on Aadhar Card.

If you have an Aadhaar card, you can get an instant personal loan from a number of lenders. Here’s how: 

  1. Register for a loan at the lender’s website.
  2. Provide your Aadhaar card number and date of birth. 
  3. Verify your identity by providing other information such as your mobile number, home address and bank account numbers. 
  4. Enter your loan amount and repayment schedule. 

How Aadhaar Card affects personal loan

Aadhaar card is a 12-digit number which acts as an identity document in India. The Unique Identification Authority of India (UIDAI) issues it to individuals. The cardholder can use it to access various services and benefits linked to their Aadhaar number. With the increasing usage of Aadhaar cards, there has been a rise in personal loan applications too. Personal loans are an easy way for people to get quick financial assistance.

Features of personal loan on Aadhaar Card

Aadhaar card is one of the most popular identity proofs in India. It has many features that make it a reliable and secure identification document. Here are some of the features of the Aadhaar card that make it a great personal loan option: 

  • Aadhaar card is valid for life. If you lose your Aadhaar card, you can easily get a new one from the government website. 
  • You don’t need to carry your Aadhaar card with you all the time. You can use it to open bank accounts, apply for mobile connections, purchase goods and services, and more. 
  • Your Aadhaar card data is secure. The government uses biometric data (such as fingerprints) to identify people who have an Aadhaar card. This data is never shared with anyone else.

Eligibility for a personal loan on an Aadhaar Card

To be eligible for a personal loan on an Aadhaar card, you must meet certain requirements.

  • First, you must have an Aadhaar card. 
  • Second, you must have a bank account with a verified bank account number. 
  • Third, you must have been resident in India for at least six months preceding the application. 
  • Fourth, you must not have any outstanding loans from the same bank or financial institution. 
  • Fifth, you must have a good credit history. 
  • Sixth, you must reside in India during the entire loan repayment period. 
  • Seventh, you must not be in debt to any other financial institution. 
  • Eighth, your annual income should be Rs 50 lakhs at minimum. But it also depends on which city you are living in.

Where can you get a personal loan on your Aadhaar Card?

There are several options where you can get a personal loan on Aadhar card. Here are some of the places where you can get a personal loan:

NBFCs: There are many NBFCs that offer personal loans on Aadhaar cards. You can search for them online or through the yellow pages or business directory. 

Credit Unions: Credit unions also offer personal loans on Aadhaar cards. You can find them through the yellow pages, the business directory, or online. 

Bank branches: Most bank branches also offer personal loans on Aadhaar cards. You just need to provide your Aadhaar card and proof of address like your bank statement.

Documents required for a personal loan on Aadhaar Card

  • If you are looking to take a personal loan on your Aadhaar card, there are some documents that you will need. You will need your 
  • Aadhaar card
  • The application form for personal loans from the bank
  • Your passport photograph. 
  • The bank may also ask for your income tax or other identification documents.

Benefits of personal loan 

A personal loan is a great way to get the money you need when you need it. Here are some of the benefits of taking out a personal loan:

  • You can borrow the money you need quickly and easily.
  • Choose the interest rate and terms that work best for you.
  • Personal loans are typically backed by banks, so you know that you’re getting a high-quality product.
  • If you have good credit, personal loans may offer lower rates than other types of loans.

How to calculate personal loan EMIs

When you take out a personal loan, the lender will likely want to know your credit score and other financial details in order to calculate an interest rate. But what about EMIs? Here’s how to calculate them:

  • Determine the amount of your loan.
  • Subtract the amount of your down payment from the total amount of your loan. This is your equity contribution.
  • Multiply this figure by the interest rate on your loan (this will be a negative number).

Factors that affect personal loan

When considering a personal loan, there are many factors to consider. These include:

  • The interest rate
  • The term of the loan, and 
  • Whether or not you will have to pay back the money early. 

Some other important factors to consider when borrowing money include your credit score, your income, and your debts.

Personal loan on Aadhaar Card without having a PAN card

Lenders also provide personal loan on aadhar card only, that means without requiring the PAN Card. If you want to take a personal loan without having a PAN card, you will need to get an Aadhaar card linked with your bank account. You will need to provide your Aadhaar card number, bank name, and account number when applying for the loan. Aadhaar cards have become popular for many reasons, but there is one more important reason to get an Aadhaar card. Now, you can get a personal loan on your Aadhaar card.

There are many benefits to taking out a personal loan. Not only can you borrow money to help cover unexpected expenses, but you can also use the funds to invest in your future. For example, by getting a personal loan, you can pay for school or take care of other large debts, like mortgages or car loans. Additionally, if you have good credit and a stable income, you may be able to get a lower interest rate on a personal loan than you would on other types of loans.

Today, it has become very simple to apply for and get a personal loan, since the lenders have started to offer it on Aadhaar Card. Offering personal loans on Aadhaar Card makes it easy for banks and NBFCs to verify the information provided by borrowers quickly because the Aadhaar database already contains all the information such as name, date of birth and permanent address. There are many companies that are offering personal loans on Aadhaar Card, but MoneyWide offers the best services as it helps borrowers to receive the loan amount quickly. 

sakshi.sharma

Sakshi is a financial expert in MoneyWide who guides people regarding loans and financial advice.

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