In 2010, the Indian Government introduced the Aadhaar Card to provide citizens access to private and public sector services. This 12-digit number is unique for every person and is created by collecting Indian citizens’ fingerprints and iris scans. By acquiring an Aadhaar number, Indian citizens can benefit from many exclusive privileges. An Aadhaar card acts as confirmation of citizenship. It allows individuals to reap many benefits, such as obtaining loans easily, opening bank accounts without hassle, acquiring SIM cards in no time, and effortlessly filing Income Tax Returns.
Furthermore, getting a Permanent Account Number (PAN) card and applying for passports is made effortless through the assistance provided by an Aadhaar Card. When you need immediate financial aid, a cash loan on an Aadhar card provides a convenient solution! Enjoy access to funds of up to 3 lacs at competitive rates with multiple features that make it easier than ever. Your loan will be unsecured and processed quickly so that you can quickly take care of any unexpected expenses. With a 12-digit Aadhaar Card number, you don’t need to worry about carrying multiple documents proving your identity.
This card stores your biometric data and can act as an address, ID, and age proof. Instead of having lenders go through stacks of paperwork for verification purposes, they use the single KYC document that the Aadhaar Card provides for faster loan approvals! This article will guide you on how to apply for instant personal loan using your Aadhar card.
Why You Should Use an Aadhaar Card to Apply for Instant Personal Loan.
- You Only Require a Single Document.
All of your information is stored in the Aadhaar Card. This card stores your address, identity, and age proof. This makes the verification process hassle-free and significantly reduces the paperwork. Using an Aadhaar card to apply for an instant personal loan is more convenient and time-saving than other documents.
- Enjoy Faster Loan Approvals
Your loan will be approved faster if you use your Aadhar card. Your KYC document will be swiftly verified, and you can expect to have the loan amount in your account within 24 hours! It’s that fast and straightforward.
- Reduces Paperwork
Applying for a loan with an Aadhaar card eliminates the hassle of paperwork, allowing lenders to quickly and efficiently process your application. If you need access to funds promptly, applying for an instant personal loan using an Aadhaar card is undoubtedly the most expeditious route! It makes life easier for both parties involved and offers quick financial aid when needed most.
- More Secure
The Aadhaar card is equipped with a unique 12-digit number. This makes it more secure than other documents, reducing the risk of identity theft and fraud. A Cash Loan on Aadhar card provides an extra security layer to the borrower and the lender! The Aadhar card is also linked to your mobile device to enable 2-step verification for added safety and security.
Now that you know why you should use an Aadhaar card to apply for an instant personal loan, let’s look at the steps involved in the process.
Step 1. Visit your lender’s website or use personal loan app to apply for a personal loan.
Begin by visiting the lender’s website or downloading their mobile application. Enter your Aadhar number and other necessary details to create a profile. You will then be asked to provide additional personal information such as income, bank account details, and contact information for verification purposes.
Step 2. Use OTP to verify your contact number.
Once you have completed the necessary details, a one-time password (OTP) will be sent to your registered cellphone number. Confirm this code to verify your contact information and submit your loan application! With that easy step taken care of, you are all set and ready to go!
Step 3. Select the loan tenure and amount.
Once you have successfully created your profile, select the loan tenure and amount you want to borrow and submit your application. The lender will then process your application for an instant personal loan with a cash loan on Aadhar card.
Step 4. Receive the money
Your loan request is approved at this stage! The requested funds will be deposited into your bank account. Now you can utilize the money to cover life’s necessary expenses.
What Are the Criteria for Making Aadhaar Card Loan Application?
- Should be a citizen of India.
- Must be aged at least 21 years.
- Should have a minimum income of ₹20,000 per month.
- Should have regular bank credits on the bank.
- A credit check is carried out by the lender.
Conclusion
Having an Aadhar card is not mandatory. However, it does make obtaining a personal loan much simpler. The verification process becomes more streamlined if the borrower provides their Aadhaar details. In addition, there’s an online option called e-KYC, where documents can be uploaded, eliminating the need to submit physical copies of any paperwork. In addition, various banks provide small cash loan on Aadhar card when they receive a scanned copy of your Aadhaar card! With the launch of the Aadhar card, securing a personal loan is now a breeze. The Aadhaar database contains essential information such as your residential address, date of birth, and name, enabling banks and NBFCs to verify your identity speedily.