How to Apply for a Rs. 2 Lakh Loan on an Aadhaar Card?

Everyone, at some point, has come across a challenging financial circumstance in their lives. During such moments, having a lakhs of rupees can be of big aid. This might be used for medical emergency, money needed to save your company, or other personal needs. Have you ever thought about taking a personal loan for such situations? Personal loans are a quick way to get the funds you need with minimal paperwork. A Rs. 2 lakh loan on Aadhaar card is convenient, giving you access to money when you need it most. In this blog, we will give you a thorough idea about the process, eligibility, and documents required for a Rs. 2 lakh loan on Aadhaar card.

What is a 2 Lakh Loan on an Aadhaar Card?

A Rs. 2 lakh loan on Aadhaar card is an unsecured personal loan option that uses your Aadhaar card as the main document. It’s ideal for those needing urgent financial help but may not have other paperwork. With minimal documentation, your Aadhaar card serves as proof of identity and address, making the approval process quicker and giving you faster access to funds.

Eligibility Criteria for a 2 Lakh Loan on Aadhaar Card

Different lenders have different criteria. Let’s take the best personal loan app like Zype as an example here. To be eligible for a Rs. 2 lakh loan on Aadhaar card, you typically need to meet the following criteria: 

Indian Citizenship: The applicant must be a citizen of India. 

Age Requirement: Must be 21 years and above. 

Valid Aadhaar Card: A must-have for identity and address proof.

Bank Account: An active bank account linked with your Aadhaar. 

Source of Income: Proof of a stable income to ensure repayment capability will increase your chances of getting a small cash loan on an Aadhar card.

Documents Required for 2 Lakh Loan on Aadhaar Card Loan

Instant personal loans are a popular option, with the best part being that they require minimal documentation. You can access a loan of Rs. 2 lakh on aadhar card without needing to submit many documents. However, some lenders may still request the following along with your Aadhaar card: 

Aadhaar Card: As proof of identity and address. 

PAN Card: For tax identification. 

Income Proof: Salary slips, bank statements, or tax returns. 

Photographs: Passport-size photographs.

Interest Rates and Fees for 2 Lakh Loan on Aadhaar Card Loan

Different lenders offer different interest rates. Urgent personal loan of Rs. 2 Lakh Loan  on Aadhar Card with lenders like Zype can be favorable and affordable for you. The interest rate for Rs. 2 Lakh Loan can start as low as 1.5% per month. This competitive interest rate makes it an attractive option for those in need of quick funds. 

Here’s a clear detail about Zype’s interest rates: 

2 Lakh Loan on Aadhaar Card Loan EMI: Tenure 1-5 Years

If you’re wondering how much your monthly EMI will be for a Rs. 2 lakh loan on Aadhaar card, you can easily find out using Zype’s personal loan EMI calculator. It gives you a clear breakdown of what you’ll need to pay each month. For example:  

EMI amounts will vary based on the interest rate and loan tenure.

Key Features & Benefits of Rs. 2 Lakh Loan on Aadhaar Card

How to Apply for a Rs. 2 Lakh Loan on Your Aadhaar Card?

Each lender has their process for applying for a Rs. 2 lakh loan on your Aadhaar card. With Zype, securing a Rs. 2 Lakh Loan on Your Aadhaar Card is straightforward. Here’s how to do it in a few simple steps: 

Download the Zype App: Start by downloading the app from PlayStore/AppStore.  

Sign Up/Login: Create a new account by completing mobile OTP.  

Complete Application: Input your PAN number along with some other details to apply for a loan. You can get approved for a loan in less than 60 seconds.  

Complete KYC:  Complete a real-time selfie-based verification and Aadhaar linked mobile OTP to get your loan limit.  

Select Loan Amount and Tenure: Select the loan amount you want to transfer along with a repayment plan that fits your budget.  

Receive Your Loan: You will get the loan directly into your registered bank account! 

Conclusion

If you need money quickly and with as little paperwork as possible, an Aadhaar card loan of up to Rs. 2 lakh may be a good option. You may apply for loans with ease and obtain the funds you need by being informed of the requirements, documentation, and loan features.