Gone are the days of drowning in paperwork to secure a personal loan. Getting a personal loan on an Aadhar card is a fast and easy process. The Aadhar card simplifies the verification steps, ensuring you can get loans as quickly as you need them. Many lenders now offer a loan by Aadhar card with little paperwork.
Commonly referred to as an ‘Aadhar Card loan’, it is a method that highlights the Aadhar card’s paperless e-KYC capability. This article provides an overview of how to get a loan on an Aadhar card, clarifying the necessary steps and eligibility criteria to apply for a personal loan on an Aadhar card only.
Impact of Aadhaar On Personal Loans
The introduction of Aadhar cards has significantly improved the process of securing personal loans. Let us explore how:
1. Easier KYC Process:
KYC regulations require multiple documents. Since Aadhar contains biometric data, it possesses paperless e-KYC capabilities, making verification quick and seamless.
2. Faster Loan Approval:
Your need for loans might be urgent, which is why Aadhar-based personal loans are an ideal choice. Loans from banks require multiple regulatory and approval checks, whereas Aadhar’s biometric capabilities make the process faster for Aadhar Card loan apply.
3. Swift Loan Disbursal:
Since Aadhar-based personal loans have faster approval process, the funds are disbursed quickly too, providing you with credit immediately.
Benefits of Personal Loan on Aadhar Card
In today’s financial context, loan processing is intricately tied to the government’s KYC regulations, ensuring compliance from both borrowers and lenders. When applicants provide their UIDAI number, containing the biometric data connected to their Aadhar card, the personal loan application process is significantly simplified for the lender.
Below are the benefits of getting a personal loan on Aadhar card only:
1. The Aadhar card is comprehensive proof of citizenship, address, photo, age, and identity.
2. It facilitates an online verification process (e-KYC) for expedited loan disbursal.
3. Simplifies the documentation process for applicants and financial institutions alike.
4. Reduces loan processing time, saving valuable time and effort.
5. In some cases, only the 12-digit UID number is required, eliminating the necessity for a physical copy of the Aadhar card.
Aadhar Card Loan Eligibility Criteria
Before applying for a personal loan on Aadhar card only, make sure you meet these eligibility criteria:
● Possession of a valid Aadhar card issued by the UIDAI.
● Applicant must be an Indian resident under the age range of 20 to 60 years.
● Salaried or self-employed individuals must have a minimum monthly income of INR 15,000.
● A credit score of 600 or above is required.
● A minimum work experience of one year is mandatory.
Documents Required for Aadhar Card Loan
While getting a personal loan on Aadhar card only helps to eliminate some paperwork, you must still upload the following documents:
● Aadhar card
● Address proof like your utility bills, rent contract, passport, driver’s license and voter’s ID
● Cheques of your salary account
● Passport-sized photographs
● Income proof like bank statements, income tax returns and salary slips
● Application form for the personal loan
Loan Amounts Available with Aadhar
The loan amount available with your Aadhar card will depend on factors, such as your CIBIL score, financial statements, and chosen lender. Once you have applied for a personal loan with Aadhar card only, the lender will analyse your details, and accordingly grant you the loan amount. This can range from Rs. 5,000 up to Rs. 25 lakhs, depending on your eligibility and lender policy.
Factors to Consider While Getting an Aadhar Card Loan
Acquiring a personal loan on an Aadhar card only has simplified the documentation process, thanks to its utility. As a complete KYC document, the Aadhar card is a one-stop solution for lending institutions.
Here are some points to remember to avail of a loan on Aadhar card only:
1. Ensure your Aadhar card is linked to your PAN and bank account for a smoother application process.
2. Verify that you meet the age, income, and employment criteria specified by the lender.
3. Double-check your credit score to ensure it meets the minimum requirements set by the financial institution.
4. Provide accurate and up-to-date information to avoid delays or complications during the verification process.
5. Grant necessary permissions for the lender to conduct background checks based on your Aadhar card information.
6. Review the terms and conditions of the loan carefully before proceeding with the application to understand the obligations and requirements thoroughly.
How to Apply for a Personal Loan Using an Aadhar Card
Getting a personal loan with your Aadhar card is now easy. Simply hop online, fill out the personal loan application, and provide your Aadhar number. With your Aadhar linked to your PAN and bank account, the need for endless document uploads ceases. At Tata Capital, you can acquire a personal loan from INR 40,000 to INR 1.50 lakh while ensuring a mutually beneficial arrangement, reasonable processing fees and attractive interest rates.
Below are the steps you can follow to get a personal loan on Aadhar card only:
1. Visit the Tata Capital website and initiate a new online loan application by selecting the “Apply Now” button.
2. Fill in personal and loan details in the digital form provided.
3. Upload soft copies of the required documents, such as an Aadhar card, six-month bank transaction history, and other requested documents.
4. Await processing, typically completed within minutes during the verification phase.
5. Upon successful verification, the applicant will promptly receive confirmation of loan approval.
6. Tata Capital will disburse the loan to the borrower’s bank account within a few hours.
7. Depending on the borrower’s repayment capacity, they can opt for a flexible loan tenure ranging from 12 months to 60 months.
Conclusion
The loan obtained using an Aadhar card is unsecured, eliminating the need for the borrower to provide any form of security.
Therefore, the Aadhar card has revolutionised the landscape of personal loans in India, simplifying the application process and expediting loan approvals. As a result, individuals can quickly secure loans, like those offered by Tata Capital, benefiting from reasonable processing fees and interest rates. By following a few straightforward steps, borrowers can swiftly access the funds they need while enjoying the flexibility of choosing a loan tenure that aligns with their financial capabilities.
Apply for a personal loan on the Tata Capital website today!
FAQs
Yes, it is possible to get instant personal loans on an Aadhar card. Lenders typically process these loans within 24 hours.
Loans are offered from Rs. 5,000 up to Rs. 10 lakhs. If you fulfill the eligibility criteria and provide all the necessary documents, you can secure a loan easily.
CIBIL scores of at least 600 and above can put you in the eligibility criteria to avail an Aadhar card personal loan.
Through digital lending applications, you can get a loan of Rs. 50,000 with your Aadhar card. You only need to fulfill eligibility criteria and provide the necessary documents. A higher CIBIL score will be beneficial.
Availing a loan requires employment details for the previous 3 months. However, if you are unemployed and require a loan, and you have an employed family member or friend, they can take a loan on your behalf.
If you fulfill eligibility criteria and have a high CIBIL score, you can easily get a loan up to Rs. 10 lakhs using your Aadhar card.
Digital lending applications can offer you loans on your Aadhar card valuing Rs. 20,000 or more, depending on your criteria.
06 May 2025
6 mins read
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