A personal loan helps you meet your financial needs and requirements when you need money urgently. Whether you wish to renovate your house, need money for vehicle repairs, or look forward to pursuing higher education, a loan provides you with the finance you need. But is getting a personal loan that easy? Yes, you can now get personal loans just with the help of your Aadhaar card, a unique identification document given by the Indian government. As it serves as proof of identity, address, and more, you can use this document to get a loan easily and quickly. So, let’s learn more about availing an Aadhaar card loan and the basics of the Aadhaar card loan application.
How to Apply for a Personal Loan Using an Aadhaar Card?
Here’s how you can apply for a personal loan on Aadhaar card. Follow these simple steps to submit your Aadhaar loan application:
Step 1: Choose a Lender
First, you need to pick a bank or financial institution that offers personal loans on Aadhaar card. Many lenders including CASHe provide instant personal loans on your Aadhaar card.
Step 2: Visit the Lender’s Website or App
Download the app from the Google Playstore or AppStore or visit the lender’s website directly to apply for a small cash loan on Aadhaar card.
Step 3: Fill Out the Application Form
Now, find the personal loan application form and fill in your details like your name, contact information, loan amount, and the duration you wish to take the loan for.
Step 4: Upload Necessary Documents
You would also need to upload scanned copies of important documents like your Aadhaar card.
Step 5: Complete e-KYC
Complete the e-KYC (electronic Know Your Customer) process using your Aadhaar card. This would verify your identity and address online.
Step 6: Submit the Application
Once you have filled in all the details, review them and submit the application for your Aadhaar card personal loan.
Step 7: Wait for Approval
Post submission, wait for the lender to check your application and approve it.
Step 8: Disbursement of Funds
Once approved, the loan amount will be sent directly to your bank account. You can then use the money for your personal needs.
Mandatory Documents Required for an Aadhaar Card Loan
- Aadhaar Card: For identity and address proof
- PAN Card: For financial verification
- Income Proof: You can submit recent salary slips, bank statements, or income tax returns.
- Address Proof: The Aadhaar Card would serve as the address proof. But if your current address is different from what is on your Aadhaar card, you would need another proof like a utility bill or rental agreement
- Photograph: Recent passport-sized photograph.
Also Read: Documents Required for Cash Loan
Eligibility Criteria for Applying for an Aadhaar Card Loan
To avail a personal loan on Aadhaar card with CASHe, you need to meet the following criteria:- Age: You should be above 21 years of age.
- Income: Must have a stable monthly income of a minimum ₹25,000
- Credit Score: A good credit score (usually 750 or above) increases your chances of approval.
- Citizenship: You must be an Indian citizen.
Benefits of Applying for a Personal Loan Using an Aadhaar Card
Whether you are availing a large or small cash loan on Aadhaar Card, here are major benefits you can enjoy:
- Quick and easy application as you can apply for the Aadhaar loan online.
- Get faster approval due to the e-KYC process.
- Minimal documentation as the Aadhaar card serves as both identity and address proof.
Conclusion
So, this is how you can apply for a personal loan on Aadhaar Card and get your loan approved quickly. Looking for a good instant personal loan option with competitive interest rates? Download the CASHe app right away! CASHe offers instant personal loans of up to ₹4 lakhs with an easy repayment schedule. Sign up today and get a convenient solution for your financial needs.
