How to Apply for a Rs. 25,000 Loan on an Aadhaar Card?

Taking a loan on an Aadhar card can be a smart solution. An Aadhaar-based loan can make it easy to get access to funds during urgent financial requirements.  

Just like ordering something online with a few clicks, you can apply for a ₹25,000 loan using your Aadhaar card and get the funds directly in your account. In this guide, we’ll walk you through the step-by-step process to apply for a ₹25,000 personal loan using your Aadhaar card and get quick access to funds.  

What Are the Aadhaar Card-Based Loans?  

Aadhar card-based loans are personal loans that have a quick application process with minimal documentation. The Aadhar card is the primary document required in the application to complete the KYC. This makes the process quick and easy to verify for the lender without requiring much paperwork.  

The Aadhar card number is a unique identification number issued by the Government of India to all citizens. This number contains biometric and demographic data that an individual can use for various purposes like government services and subsidies. 

Eligibility Criteria for Rs. 25000 Loan on Aadhaar Card

For quick loan approval, it is important to fulfil the lender eligibility criteria. Check with your lender for their eligibility criteria specific to them. Here are the general eligibility criteria required by most lenders:

Age: Applicant must be 21 and above 

Citizenship: Must be an Indian citizen 

Employment Status: Individual must be salaried or have a  steady income source 

Credit Score: The applicant should have a credit score above 650 

Mandatory Documents: Must have a valid Aadhar and PAN card 

Interest Rates and Processing Fees for Rs. 25000 Loan on Aadhar Card

When you apply for any type of loan, it is important to understand the interest rates and additional charges. While these charges seem small, they can significantly add up to your overall loan cost. It is best to check the loan terms and charges thoroughly. Here are general charges you need to check with the lender:

Documents Required to Apply for a Rs.25,000 Loan on Aadhar Card  

To apply for a ₹25,000 loan, you need to provide essential documents for identity, address, and income verification. Most lenders require minimal paperwork, making the process quick and hassle-free. 

Proof of Identity: Aadhar Card, PAN Card 

Address Proof: Utility Bill or Aadhar/PAN card 

Income Proof: Salary slips, bank statement 

Step-by-Step Process to Apply for a Rs. 25,000 Loan Using Aadhar Card 

Applying for a ₹25,000 loan using your Aadhaar card is a simple and hassle-free process. Follow these steps to get your loan approved quickly: 

1. Choose a Lender: Compare different banks, NBFCs, or digital lenders offering Aadhaar-based loans. 

2. Check Eligibility: Ensure you meet the lender’s criteria regarding age, income, and credit score. 

3. Visit the Lender’s Website or App: Most Aadhaar card loans can be applied for online. Go to the official website or download the app of your lender. 

4. Fill Out the Application Form: Complete the application form by providing basic details like name, Aadhaar number, mobile number, and income details. 

5. Upload Required Documents: Submit your Aadhaar card, PAN card, and bank statements as required. Many lenders offer a paperless process, using Aadhaar details without needing physical documents.

6. Complete e-KYC Verification: Authenticate your identity using Aadhaar-based OTP verification.  

7. Loan Approval and Disbursement: Once verified, the lender processes your loan, and the amount is credited to your bank account. 

By following these steps, you can secure a ₹25,000 Aadhaar card loan quickly and conveniently. 

Benefits of Taking a Rs. 25,000 Loan Using Aadhaar Card  

Getting a loan of 25,000 using an Aadhaar card has several benefits, as stated:

Quick Approval: Aadhar-based loans have an easy application & quick approval process. This makes them a convenient option for urgent cash requirements. 

No Collateral: These loans are typically unsecured, meaning the borrower does not need to pledge any assets (like car or property) to get the loan. The loan is given on the basis of other criteria like credit score, monthly income, employment status and a valid Aadhar card.

Paperless Application: For smaller loans, lenders typically have lesser criteria and a quick process. Many lenders accept Aadhar card details along with basic personal information to complete the loan application.

Flexible Repayment: The loan repayment can be done in a flexible period ranging from 6 months to 5 years, as per the lender. This gives the borrower the opportunity to manage their finances comfortably while repaying the loan. 

Conclusion  

Getting a ₹25,000 loan using your Aadhaar card is a smart solution to get funds for urgent financial requirements. Whether it’s an emergency or a planned expense, this quick and hassle-free process ensures you get the funds when you need them. So the next time you find yourself short on cash, remember that help is just a few clicks away!