How to get Aadhar card loan Complete Process Steps by Steps

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How to get Aadhar card loan Complete Process Steps by Steps
How to get Aadhar card loan Complete Process Steps by Steps
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At present, Aadhar card loans can be easily obtained from any financial institution or bank. The loan can be needed by any human being for fulfilling many purposes in his life. Some may need to take an Aadhar card loan for medical expenses, some for the renovation of their house, some for the fees of their children, some for the expenses of marriage, etc.

Where earlier, whether private sector banks or government banks used to demand different types of documents for providing loans. And even then it used to take a long time to get the loan. But at present, any person can easily take an Aadhar card loan as a personal loan when needed. This process does not take much time either.

What is aadhar card loan?

An Aadhar card loan is an unsecured financial loan provided by a bank to its customers. Aadhar card is one such document that can be used in the form of e-KYC in a paperless way also. Because biometric verification can be done easily.

It is meant to say that the Aadhar card loan is a paperless process. Banks can easily do their biometric verification for eligibility criteria. Which is used as ID proof and address proof of the borrower. However, the Aadhar card loan process may also require the borrower to submit financial documents such as bank statements, PAN cards, salary statements, etc.

Impact of Aadhar Card on Personal Loan

A personal loan can be availed for recovery or recovery from any unfortunate situation. Loans taken under this category can only be used for personal purposes such as medical expenses, home renovation, children’s education or marriage, etc. If you are also thinking of applying for a personal loan, then keep in mind that currently, it is mandatory to submit KYC documents to take the loan.

The government has made it mandatory for all banks and financial institutions to submit KYC details from their customers in order to prevent money laundering. Banks have started the e-KYC process for Aadhar card loans, making it very easy and less time-consuming. All this became possible because biometric data of individuals is available in Aadhaar.

When the e-KYC process did not come into existence, various documents were demanded by banks for sanctioning personal loans. Due to which it used to take a long time to get the loan approved. And ever since the Aadhar card loan came into existence, both the loan approval time and the documents required have come down.

Personal loans are required by individuals in case of emergency for purposes like medical, education, etc., and with the Aadhaar card, the process has become much quicker and quicker. All the personal details of the person who wants to take the Aadhar card loan are found in the Aadhar card, which has greatly reduced the time taken in this process.

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Which banks give loans from aadhar card

Presently almost all the top banks are offering Aadhar Card Loan. But here we are giving a list of some of the top banks that provide personal loans from Aadhar cards.

1. HDFC Bank

India’s largest private sector bank HDFC provides the facility to apply for a personal loan with Aadhar card. Although the rate of interest charged on the loan varies from time to time. But currently HDFC charges interest on personal loan at the rate of 10.25%.

 

Documents Required for HDFC Personal Loan

  • Identity Proof – Aadhar Card, Driving License, Passport etc.
  • Address Proof – Voter ID Card, Aadhar Card, Driving License, Passport etc.
  • Other documents – Bank statement of last three months, Form 16, current salary slip, passport size photograph.

2. ICICI Bank

  • It is the second-largest private sector bank in the country, and also offers Aadhar card loan facility. This bank also offers customers the convenience of applying for loans without hassles, flexibility in repayment, and personal loans with minimal documents.

Required Documents 

  • Identity Proof – Aadhar Card, Driving License, Passport, etc.
  • Address Proof – Voter ID Card, Aadhar Card, Driving License, Passport, etc.
  • Bank statement of last three months.
  • Current salary slip of last three months, passport size photograph.

3. State Bank of India

  • SBI is the largest bank in India, and it offers Aadhar Card Loan i.e. Personal Loan at attractive interest rates. And the repayment period can go up to 5 years with a nominal one time processing fee.

Document

  • ID Proof – PAN Card, Aadhar Card, Driving License, Passport, etc.
  • Address Proof – Voter ID Card, Aadhar Card, Driving License, Passport, etc.
  • Bank statement of last three months.
  • Form 16 and current salary slip.
  • Income tax return for the last two years.
  •  Passport size photograph.

4. Punjab National Bank

  • Punjab National Bank also offers Aadhar Card Loan with attractive interest rates and attractive repayment tenure.

Required Documents

  • Voter ID Card, Aadhar Card, PAN Card, Driving License, Passport, etc. as Identity Proof.
  • Address proof as Aadhar Card, Driving License, Passport, etc.
  • Form 16 and current salary slip.
  • Bank statement of last three months.
  • Audited account statement for six months.
  • Income tax return for the last two years.
  •  Passport size photograph.

How to Apply for Aadhar Card Loan?

  • If you want to take a personal loan from your Aadhar card, then the process is very easy. Because at present most of the lenders have made all the processes from applying to loan approval online. In such a situation, you can also apply for an Aadhar card loan online from India’s top banks and NBFCs. But before that, you need to choose the best loan offer.
  • There are different types of personal loans offered by different banks and NBFCs. You have to choose a loan that offers an attractive discount and charges low interest. Generally, such banks in which the person has his own account, or the bank whose credit card he has, those banks come with good offers for their customers.
  • Therefore, if a person wants, he can focus on these banks. There is no need to submit any physical documents while applying for an Aadhar card loan online. All you need to do is upload the scanned copies of the required documents. So let’s know how a person can apply online to take a loan from an Aadhar card.
  1. First, choose the loan offer Choose a loan that has a discount and low-interest rates. For this, if you want, you can also visit any loan comparison website.
  2. After that visit the official website of the bank or NBFC you have selected for the loan offered by you.
  3. Apply for an Aadhar card loan i.e. personal loan by visiting the website. And submit by filling in all the necessary details asked in that form, how much loan you need etc.
  4. Once your application is submitted, you are then contacted by a representative of the bank or NBFC to verify your details.
  5. After the details are verified, you may be asked by the representative of the bank to upload the scanned copy of your Aadhaar and other required documents through the official website or WhatsApp, etc.
  6. After document verification, the loan is directly credited to your given bank account.

Features of Aadhar Card Loan

  • Aadhar card can be used to avail a personal loan.
  • Aadhar Card Loan starts from attractive interest rates up to 10.25% p.a. interest rates.
  • Along with easy and fast online verification, the loan is also approved instantly.
  • Only one document Aadhar card can be used for proof of age, photo, identity proof, address proof, and citizenship proof.
  • Aadhar card loans can be taken for up to five years.
  • Since it is an unsecured loan, it does not require collateral.

 

  • FAQ
    1. Q. Can I take a loan with an Aadhar card?

      Ans. Yes, if you have Aadhar card then you can apply for a personal loan from any bank.

    2. Q. How much loan will be available on Aadhar cards?

      Ans. How much loan will be sanctioned to you, the bank will decide your various documents in which income proof is the main? Take after testing. You can get a personal loan from Rs 50000 to 5 lakh with an Aadhar card.

    3. Q. How to get a loan without a PAN card?

      Ans. If you do not have a PAN card, then you can submit any other document like Aadhar Card, Voter ID Card, Driving License, Passport, Salary Slip etc. while taking the loan.

Q. How to get an Aadhar card loan instantly?

Ans. If your credit score is more than 700 then your chances of getting an Aadhar card loan quickly become high. Because the Aadhar card contains the biometric details of any person, which makes the verification process faster. Hence, after verification, the loan gets credited to your account immediately.

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