Today, an Aadhaar card loan can serve as a single document loan for the complete approval process. It makes your verification process easier and serves as a prime source of identity. Avail here and save your time!
Steps to get an Instant Personal Loan with Aadhaar Card?
Get an instant personal loan with your Aadhaar card, by following these steps:
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- Step 1 : Choose the lender
Start by researching different lenders and loan providers who offer instant personal loans based on an Aadhaar card. Compare their interest rates, loan terms, eligibility criteria, and repayment options.
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- Step 2 : Check Eligibility
Review the eligibility requirements set by the lender. Typically, lenders consider factors such as age, income, credit score, and employment status. Ensure you meet the eligibility criteria before applying.
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- Step 3 : Online Application
Visit the lender’s website or download their mobile app to begin the loan application. Fill in the required information accurately, including your Aadhaar card details, personal information, employment details, and loan amount.
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- Step 4 : Verification Process
Once you submit the application, the lender will verify your Aadhaar card and other documents provided. This process may involve verifying your biometric details through Aadhaar – based eKYC.
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- Step 5 : Loan Approval and Disbursement
Upon successful verification, the lender will assess your loan application and decide. If approved, the loan amount will be disbursed directly to your bank account linked to your Aadhaar card.
Aadhaar Card Loan Interest Rates & Charges
The Aadhaar Card loan interest rates and processing fees vary from lender to lender. Hence it is essential to compare the interest rates and make an informed decision before applying. Here is a list of top banks and NBFCs that prefer an Aadhaar Card as a primary document:
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List of Top Banks Offering Aadhaar Loans
| Top Banks | Interest Rates(p.a.) | Processing Fees |
|---|---|---|
| Axis Bank | 10.49% onwards | Up to 1.25% |
| IndusInd Bank | 10.25% onwards | Up to 3% |
| IDFC Bank | 10.49% onwards | Up to 3.5% |
| HDFC Bank | 10.50% onwards | Up to ₹4999/- |
| ICICI Bank | 10.50% onwards | Up to 2.50% |
| Federal Bank | 11.49% – 14.49% | Up to 3% |
List of Top NBFCs Offering Aadhaar Loans
| Top NBFCs | Interest Rates(p.a.) | Processing Fees |
|---|---|---|
| Tata Capital | 10.99% onwards | Up to 3% |
| Bajaj Finserv | 11.00% onwards | NIL |
| DMI Finance | 12% onwards | Up to 4% |
| L&T Finance | 12% onwards | Up to 2% |
| MoneyTap | 13% onwards | Up to 2% |
| Aditya Birla | 13% onwards | Up to 3% |
| MoneyView | 15.96% onwards | Starts at 2% |
| Cashe | 27.00% onwards | Up to 3% |
Aadhaar Card Loan Eligibility
To apply for an Aadhaar card loan, you must meet the basic eligibility criteria: Here is the overview of Aadhaar Card Loan eligibility:
- Age: Applicants between 21 and 60 years of age
- Credit Score: Should be 750 or above
- Work Experience: Minimum of 1 year with the current company
- Income: Net monthly salary of ₹15,000
Can I get a personal loan on Aadhaar card without a salary slip?
Yes, if you are looking to obtain a personal loan using your Aadhaar card without a salary slip, there are certain requirements that you may need to fulfill. In addition to your Aadhaar card, some lenders may request bank statements as an alternative income verification method.
Typically, lenders ask for bank statements to assess your financial stability and repayment capacity. Hence, you will have to mandatorily provide the bank statement for the last 6 months. And in case you are self-employed, you must provide bank statements for the last 3 months.
Aadhaar Card Loan Documents Required
- ID Proof: Aadhaar Card or (PAN Card, Passport, Voter ID, Driver’s license)
- Address Proof: Aadhaar Card or (Passport, Voter ID, Utility bills (Electricity, Water, Gas), Driver’s license)
- Income Proof: Bank statements of the last 3 months.
Note: According to the new guidelines from the Reserve Bank of India (RBI), Aadhaar Card is no longer accepted as a valid address proof for financial accounts like loans or deposits. Therefore, depending on the lender, it would be necessary to provide an alternative address proof such as a utility bill, passport, etc.
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Calculate EMI for Your Aadhaar Card Loan
Before you apply for an Aadhaar card loan, plan your loan repayments effortlessly with the Personal Loan EMI Calculator. You can easily calculate your EMI in advance with this user-friendly calculator.
Just enter the loan amount, interest rate, and loan tenure to determine your EMI and take control of your budget. This tool helps you make informed decisions about any of your financial obligations.
Features & Benefits of Aadhaar Card Loan
Avail an Aadhaar Card Loan and enjoy multiple benefits in just a click!
Collateral-free loan
Zero need of provide
any collateral
Quick Disbursal
Loan approval &
disbursal in mins
Paperless Application
Expect complete e-KYC
process
Low Interest Rates
Interest rates starting
from 10.50% p.a.
Easy Repayment
Choose your preferred
tenure for loan
replayment
Single Document
Provide Aadhar Card
as proof of identity
& Address
Personal Loan on Aadhaar Card without Having a PAN Card
Apply for a personal loan using Aadhaar Card and you can access your personal loan without a PAN card verification (Differs from lender to lender). Aadhaar card serves as ID proof & is important to note that you may need to provide several other supporting documents. These documents may include your Voter ID card, passport, driving license, salary slips, and more, depending on the specific requirements set by the loan provider.
Apply for Aadhaar Card Loan With Buddy Loan
Steps To Apply For a Personal Loan with Buddy Loan
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Aadhaar Card Loan Yojana Online
The Government of India has introduced various loan schemes, and one notable program is the Mudra Yojana. This initiative aims to empower young entrepreneurs by providing them access to collateral-free business loans up to ₹10 lakhs with Aadhaar card.
It allows borrowers to avail loans for business purposes using the Aadhaar card from both government and private banks. Here are the highlights of PM Aadhaar Loan Yojana:
| Scheme Name | Mudra Loan (Loan on Aadhaar Card) |
|---|---|
| Loan Type | Collateral free |
| Loan Amount | Up to ₹10 Lakhs |
| Who can apply? | Citizen of India |
| Concerned Ministry / Department | Ministry of Micro Small and Medium Enterprises (MSME) |
Conclusion
A personal Loan on Aadhaar Card offers a convenient and efficient way to access funds. It eliminates the need for extensive documentation and lengthy approval processes, making it an attractive option for individuals in need of quick financial assistance.
Aadhaar Card Loans provide flexibility and empower you to meet your personal financial needs swiftly. However, it’s essential to research and compare lenders, understand the terms and conditions, and borrow responsibly to ensure a smooth borrowing experience.
Ready to take the next step? Apply for a Personal loan now!
Frequently Asked Questions
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