If you find yourself in need of cash right away, a personal loan could be the perfect solution. These loans are gaining popularity due to their flexible repayment plans and speedy disbursement. Since they are unsecured, applying is straightforward, and you won’t have to put up any assets as collateral. For instance, if you require 10,000 rupees, you can easily secure a loan using just your Aadhaar card.

 

Loans based on your Aadhaar card are classified as personal loans, with the Aadhaar card serving as the primary document. This significantly reduces the time spent on paperwork. Various lenders, including banks, NBFCs, and fintech companies, offer small loans.

 

Key advantages of loans against Aadhaar card:

 

Fast processing: Using your Aadhaar card streamlines the KYC process, allowing for quicker loan approvals.

 

Minimal documentation: Unlike traditional loans, Aadhaar card-based loans require less paperwork, as your Aadhaar card serves as proof of both identity and address.

 

Accessibility: Individuals who are salaried, self-employed, or have limited credit histories can take advantage of Aadhaar-based loans.

 

Convenience: The application process for this loan is available online.

 

Eligibility Criteria for Rs 10,000 Loan on Aadhar Card

 

While each lender has specific eligibility requirements, there are some common factors that most lenders consider essential for your application:

 

Age: You should be between 21 and 60 years old.

 

Income: A stable income source is necessary. Both salaried individuals and self-employed persons can apply for this loan. Typically, lenders may require a minimum salary of Rs 15,000 for a Rs 10,000 loan.

 

Bank Account: An active bank account is required for the loan amount to be deposited.

 

Credit History: Having a good credit history can enhance your chances of loan approval. However, some lenders may still provide loans even if your credit score is low.

Precautions

1. Opt for reputable platforms only.

 

2. Carefully review the interest rates and terms.

 

3. Aim to repay the loan promptly to maintain your credit score.