Small Cash Personal Loan on Aadhar Card

Get Personal Loan on Aadhar Card Instantly

The best way to deal with a cash crunch is to get a personal loan. There are many loan apps from where you can borrow money quickly by entering a few basic details like your name, PAN and Aadhaar number.

If you are looking for a personal loan on Aadhaar card, you can download the Zype app and enter basic details to apply for a credit line offer up to ₹5,00,000.

Impact of Aadhaar Card on Personal Loan

When you are availing any kind of financial services like opening a new bank account or taking a personal loan, you have to complete a KYC process. The government has made this necessary to decrease the number of fraudulent activities. 

But gone are the times when you have to submit endless documentation for the same. e-KYC has made this process extremely simple and hassle-free. You only need to provide your Aadhaar number to do the same. 

This is exactly why your Aadhaar card becomes a crucial document that helps you complete your loan application. 

Repayment Options for Personal Loan on Aadhar Card

When you take an instant loan, you have to pay it back to the lender with interest. And in today’s time, features like multiple repayment options, online payments and prepayment without penalty have made this process even more simple. 

Depending on your lender, you can choose a repayment plan that fits your budget and even set up a mandate so you never miss your EMIs.  

Top Benefits of a Personal Loan on Aadhaar Card

Instant Disbursal of Personal Loan on Aadhar Card

There are many loan apps where you can get a loan instantly. For example – on the Zype app, the money is disbursed on the same day of loan application.

Collateral Free Loans

Whether you want a small cash loan on Aadhaar card or a higher amount, you can get a personal loan without pledging collateral.

Affordable Interest Rates

Different lenders levy different rates of interest on personal loans as per their credit policies. The interest rate at Zype starts at 1.5% per month.

Convenient EMI Options

Every lender provides multiple EMI options. You can select the one that fits your budget. Zype users can choose to repay in 6, 9 and 12 EMIs.

Importance of Applying for An Small Cash Loan on Aadhaar Card

Applying for a small loan using your Aadhaar card in order to get money quickly and easily can help borrowers for several purposes. A loan on an Aadhaar card only requires minimal documentation, making the process faster and more convenient. It requires address and identity verification, cutting down on approval time. Furthermore, without requiring a lot of documentation, a personal loan on an Aadhaar card might assist in meeting short-term financial demands, emergencies, or unforeseen bills. This effective and uncomplicated method guarantees that people can easily and quickly obtain the required finances.

Why do Lenders Ask for an Aadhaar Card to Give a Personal Loan?

Lenders ask you for an Aadhaar card to give a loan as it is a convenient and secure way to verify your identity to complete the loan application. An Aadhaar is a unique identifier that has the information of your name, address, date of birth, and biometric details.

If you want to get a loan from Zype, you don’t have to upload your Aadhaar card. You only need to enter your Aadhaar number and complete OTP verification on Aadhaar linked mobile number.

Also Read: The Dos and Don’ts of Personal Finance Planning

Eligibility Criteria for Personal Loan on Aadhaar Card

Different lenders have different eligibility criteria for approving loans. Usually, your eligibility is evaluated on the basis of your age, documents, salary, work experience and credit score.

Before You apply for a personal loan on Aadhaar card, check out Zype’s basic eligibility criteria –

Documents Required for Aadhaar Card Personal Loan

Even if you want a small cash loan on Aadhaar card, you would need to give the information required by the lender to complete your loan application. Usually, loan companies ask for photo identity proof like a passport or PAN, address proof like a driving licence or ration card and income proof like salary slips or bank statement.

To get a personal loan on Aadhaar card without salary slip from Zype, you only need these to complete your loan application –

1. Photo Identity Proof

You would need to do an online selfie-based verification which is part of the KYC process.

2. Mandatory Documents

You would need to enter your PAN and Aadhaar number.

3. Income Proof (optional)

You can get loans from Zype without giving an income proof. In case you want to upgrade your credit limit, you get the option to submit your bank statement of the last four months.

Interest Charged on an Aadhaar Card Loan

You can check the interest rates charged by different lenders on their official website. Usually, the interest rate is calculated on factors like your credit score, credit utilisation ratio and personal loan repayment history.

Tips to get a small cash loan on Aadhaar Card

Few pointers to get a small cash loan on Aadhar card are: 

1. Make sure your Aadhaar card and bank account are linked for easy verification in order to obtain a small cash loan using your Aadhaar card. 

2. Choose zype who offer loans on Aadhaar cards to streamline the documentation process. 

3. Maintain a good credit score to increase your chances of being approved. 

4. Gather the basic documents, such as your PAN card and proof of income, to speed up your application process.

How to Apply for a Personal Loan on an Aadhaar Card?

The process of applying for a personal loan differs from lender to lender. It depends on the credit product and the information required by the loan company.

You can get a credit limit from Zype in less than 8 minutes. When you enter your basic details like name, PAN, mobile number and employment details, your credit offer is generated in less than 60 seconds. After this, complete KYC, select the loan amount and repayment tenure. You can immediately transfer the money to your bank account.

Conclusion

An Aadhaar card loan is a great way to meet your instant cash needs. You can apply for the same online in a few simple steps, get money fast and pay back in convenient EMIs.

Download the Zype app to get instant personal loans up to ₹5,00,000. You can complete the loan application in less than 8 minutes and your credit line offer will be generated in less than 60 seconds. Once you complete the KYC process, you can withdraw as many loans as you want from your active credit line.