Sometimes, life throws unexpected challenges our way, and we find ourselves in urgent need of money without knowing where to turn. Whether it’s a medical emergency, educational expenses, or any other financial hurdle, securing funds quickly can become essential. If you find yourself in such a predicament and are feeling the pinch financially, there’s no need to stress. Many people might not realize that you can easily obtain a personal loan of up to Rs 2 lakh using your Aadhaar Card.

 

What is the loan scheme on Aadhaar card?

Aadhaar, the unique identification card provided by the Government of India, has evolved beyond just serving as proof of identity and address. It can now also facilitate personal loans. By using your Aadhaar Card, you can access a personal loan to address your immediate financial needs. This option is particularly advantageous for those facing urgent monetary situations.

 

How to get a loan on Aadhaar card?

 

Getting a loan using your Aadhaar has become quite straightforward. You won’t have to navigate through a complicated process. Just follow a few simple steps, and you’ll be on your way to securing the funds you need.

 

Select the appropriate platform: Start by choosing a bank, NBFC (non-banking financial company), or a digital loan application that provides loans against your Aadhaar card.

 

Submit your application online: Visit the website or app of your chosen platform to apply online. Make sure to fill in your personal information and specify the loan amount you need.

 

Enter your Aadhaar number: As part of the application, you will need to input your Aadhaar number. This helps streamline the process of verifying your identity and address.

 

Upload additional documents: Depending on the lender, you may be asked to provide extra documents like your PAN card, salary slips, or bank statements to assess your income and credit history.

 

Loan approval and disbursement: After your documents are verified, your loan will be approved, and the funds will be transferred directly to your bank account.

 

Who is eligible for a loan against Aadhaar?

1. Must be an Indian citizen.

2. Applicants should be between 21 and 60 years old.

3. A stable source of income is required.

4. A good credit score is necessary.

5. Advantages of loans against Aadhaar:

6. Quick processing: Loan approval and fund transfer happen in a very short time.

 

Minimal documentation: Loans can be obtained with just your Aadhaar card and a few basic documents.

 

Flexible repayment options: You can repay the loan through easy EMIs.

 

Lower interest rates: The interest rates may be more favorable compared to other lending options.