Everyone, at some point, has come across a challenging financial circumstance in their lives, making the need for immediate access to funds crucial. Whether it is for a medical emergency, a planned family event, or another urgent personal need, a personal loan offers a quick and effective financial solution. I want a 2 lakh rupees loan is a common search, and obtaining a personal loan on an Aadhaar card is the most streamlined method today.
A ₹2 Lakh Personal Loan on Aadhaar Card is a modern, convenient financial product that leverages the power of digital identity verification (e-KYC) to provide funds with minimal paperwork. By following the Reserve Bank of India (RBI) Digital Lending guidelines, 2025 [Citation: RBI Digital Lending Directions, 2025], this product offers a swift, transparent, and secure borrowing experience through a regulated NBFC like Zype.
What is a ₹2 Lakh Personal Loan on an Aadhaar Card?
A ₹2 lakh loan on Aadhaar card is an unsecured loan of ₹2,00,000, meaning you do not need to pledge any collateral or asset to secure the funds. The term ‘on Aadhaar Card’ simply signifies that the Aadhaar number is used as the primary document for digital KYC (e-KYC), which significantly accelerates the process.
This feature allows borrowers to:
- Eliminate Physical Paperwork: The entire process is paperless and completed online.
- Access Funds Quickly: Approval and disbursement can happen much faster compared to traditional loan procedures.
- Ensure Security: Verification is done directly through the UIDAI system, ensuring a high degree of security and data privacy.
Eligibility Criteria for a ₹2 Lakh Personal Loan on Aadhaar Card
Lenders assess your eligibility based on a combination of factors to ensure repayment capacity, with the criteria slightly varying between banks and NBFCs.
Age & Employment
Typically, individuals aged above 21 years and up to 60 years are eligible to apply. Lenders usually prefer applicants with a stable employment history:
- Salaried Applicants: Require a minimum of 6 months to 1 year of employment at an MNC, public, or private limited company.
- Self-Employed Applicants: Need to demonstrate a stable business vintage (usually at least 2 years) and consistent annual turnover.
Minimum Monthly Income
The minimum salary requirement is a crucial factor for loan approval:
- For All Applicants: The required minimum net monthly salary generally starts from ₹20,000 for metro cities, but can be up to ₹30,000 depending on the city and the lender’s risk policy.
Credit Score
Your credit score (CIBIL Score) is the single most important factor determining your interest rate and chance of approval.
- Preferred Score: A good credit score, generally 750+, is highly preferred. This indicates you are a low-risk borrower, leading to the most favourable interest rates and faster processing.
- Low Score: A score below 650-700 may result in a higher interest rate, a reduced loan amount, or outright rejection of the application.
Documents Required for ₹2 Lakh Loan on Aadhaar Card
While the Aadhaar Card forms the core of the verification process, additional documents are mandatory for financial assessment.
Identity Proof (e-KYC)
- Aadhaar Card: Used for instant digital identity and address verification via e-KYC. It is highly recommended to use the Virtual ID (VID) or masked Aadhaar instead of the full 12-digit Aadhaar number for added security during the application process.
- PAN Card: Mandatory for all financial transactions and for verifying your credit history with credit bureaus (CIBIL, Experian, etc.).
Address Proof
In most cases, the address linked to your Aadhaar e-KYC is sufficient. If the current address differs, you may need:
- Passport
- Voter ID Card
- Utility Bills (Electricity, Gas, etc.) not older than 60-90 days
Income Proof
These documents are required to confirm your ability to repay the loan:
- Salaried Individuals: Latest 3 months’ salary slips and 6 months’ bank statements showing salary credits.
- Self-Employed Individuals: Latest two years’ Income Tax Returns (ITR) and Audited Financial Statements, along with 6 months’ bank statements.
₹2 Lakh Loan Interest Rates and Other Charges
The total cost of your loan is determined by the interest rate and various other charges, all of which must be clearly detailed in the Key Facts Statement (KFS) before sanctioning.
Interest Rates (APR)
Interest rates are quoted as the Annual Percentage Rate (APR), which represents the true annual cost of credit, inclusive of all mandatory fees.
- Starting Rate: For applicants with an excellent credit profile (750+), interest rates can start from as low as 9.98% per annum.
- General Range: The rate typically varies from 10.50% to 30% per annum for unsecured personal loans, influenced heavily by your credit score, income, and loan tenure. NBFCs must ensure their lending rates and practices are fair and transparent as per RBI guidelines.
Processing Fee
This is a one-time, non-refundable charge levied by the lender to cover the processing costs of your loan application.
- The fee generally ranges from 1.0% to 5.0% of the sanctioned loan amount, plus applicable taxes.
Prepayment & Foreclosure Charges
As per the Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025, Regulated Entities (like Zype and other NBFCs/Banks) are prohibited from levying any prepayment or foreclosure charges on floating-rate loans availed by individual borrowers for purposes other than business.
- If the loan has a floating interest rate, there are generally NO Prepayment or Foreclosure Charges for individual retail borrowers.
- If the loan has a fixed interest rate, the charges will be as per the KFS and loan agreement, often up to 5% of the outstanding principal.
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:
| Loan Amount | Interest Rate (per annum) | Tenure (Years) | EMI (Monthly) |
| 2,00,000 | 18% | 1 | ₹ 18336.00 |
| 2,00,000 | 18% | 2 | ₹ 9984.82 |
| 2,00,000 | 18% | 3 | ₹ 7230.48 |
| 2,00,000 | 18% | 4 | ₹ 5875.00 |
| 2,00,000 | 18% | 5 | ₹ 5078.69 |
EMI amounts will vary based on the interest rate and loan tenure.
Lender Comparison: Top Banks for ₹2 Lakh Aadhaar Card Loan
The competitive landscape for digital personal loans is vast, with many lenders offering attractive rates and fast processing, especially for those using Aadhaar e-KYC.
Lender | Indicative Starting Interest Rate (p.a.) | Indicative Processing Fee | Max Loan Amount (General) |
Kotak Mahindra Bank | Starting at 9.98% | 1.1% – 5% | Up to ₹25 Lakh |
HDFC Bank | Starting at 9.99% | Up to ₹6,500 | Up to ₹40 Lakh |
Axis Bank | Starting at 9.99% | Up to 2.5% | Up to ₹25 Lakh |
ICICI Bank | Starting at 10.45% | Up to 2.5% | Up to ₹50 Lakh |
(Note: These rates are indicative and subject to change based on market conditions, the lender’s policies, and your individual credit profile.)
Step-by-Step Application Process via Aadhaar e-KYC
The digital application process has been streamlined to make securing a ₹2 Lakh loan exceptionally fast.
The Role of Aadhaar e-KYC in Instant Approval
Aadhaar e-KYC (Electronic Know Your Customer) is the engine of instant digital lending. When you provide your Aadhaar/VID and authenticate via the OTP sent to your registered mobile number, the system instantly validates your identity and address against the UIDAI database. This process is:
- Instant: Replaces the need for days of manual document submission and verification.
- Cost-Effective: Reduces verification costs for lenders, allowing them to offer faster services.
- Secure: Authentication is done in real-time through UIDAI’s secure gateway. ****
- The image above illustrates how the OTP-based authentication ensures secure and instant identity verification.
Application Steps:
- Check Eligibility & Calculate EMI: Visit the lender’s website and use the Personal Loan EMI calculator to check your eligibility and determine a comfortable repayment tenure and EMI amount.
- Fill Online Application: Complete the detailed online application form with your personal, financial, and employment details.
- Aadhaar e-KYC Verification: Provide your Aadhaar number or VID and complete the OTP-based authentication on your registered mobile number for instant identity verification.
- Document Upload: Upload copies of your PAN card and income proof (salary slips/bank statements) digitally.
- Final Review & E-Sign: The lender performs the final credit and income assessment. Upon approval, you will receive the Key Facts Statement (KFS) and have at least 3 days to evaluate the offer before providing an explicit e-signature on the loan agreement [Citation: RBI KFS Evaluation Period].
Loan Disbursal Timeframe
The digital process ensures remarkable speed. Once the application is approved and the final loan agreement is e-signed, the ₹2 Lakh loan can be disbursed within a few hours to 1-2 business days. Disbursement occurs after the mandatory cooling-off period (minimum 1 to 3 days depending on loan tenure, as per RBI norms) is completed.
Key Features & Benefits of Rs. 2 Lakh Loan on Aadhaar Card
| Feature | Benefit |
| Fast Processing | Quick loan approval and loan disbursal |
| Minimal Documents | Only Aadhar Card is required to get loans |
| Flexibility | Various repayment tenures are available |
| Convenience | Aadhaar card as a primary document |
How to Apply for a Rs. 2 Lakh Loan on Your Aadhaar Card?
Simple Steps to Secure a Rs. 2 Lakh Loan with Zype App
Each lender has their process for applying for a Rs. 2 lakh loan on your Aadhaar card. With Zype, securing this loan is straightforward. Follow these simple steps to apply efficiently.
Sign Up / Login
Create a new account by verifying your mobile number with OTP for secure login.
Complete Application
Enter your PAN number and other details to apply. Get loan approval in less than 60 seconds.
Complete KYC
Finish real-time selfie verification and Aadhaar linked mobile OTP to confirm your loan limit.
Select Loan Amount and Tenure
Choose the loan amount you want and select a repayment plan that fits your budget.
Receive Your Loan
The approved loan amount is transferred directly to your registered bank account.
Ready to Get Your Rs. 2 Lakh Loan?
Download the Zype app now and follow the steps to get the loan easily using your Aadhaar card.
Apply NowUnderstanding EMI for a ₹2 Lakh Loan
Your Equated Monthly Instalment (EMI) is the fixed payment you make to the lender on a specific date each month. It comprises both the principal and the interest components.
EMI Calculation for Different Tenures
A longer tenure reduces your monthly EMI but increases the total interest you pay over the life of the loan. Conversely, a shorter tenure increases the EMI but saves you a significant amount in interest.
The table below illustrates the estimated EMI for a ₹2 Lakh loan at an indicative 11.00% p.a. interest rate:
Loan Amount (₹) | Interest Rate (p.a.) | Tenure (Years) | Monthly EMI (₹) | Total Interest Paid (₹) | Total Payable (₹) |
₹2,00,000 | 11.00% | 1 | ₹17,676 | ₹12,116 | ₹2,12,116 |
₹2,00,000 | 11.00% | 3 | ₹6,548 | ₹35,719 | ₹2,35,719 |
₹2,00,000 | 11.00% | 5 | ₹4,348 | ₹60,909 | ₹2,60,909 |
Loan Repayment Strategies and Tips
Effective loan management can significantly reduce your financial burden and keep your credit score healthy.
Tips to Repay Your Loan Faster
- Opt for Shorter Tenure: Choose the shortest loan tenure your monthly budget can comfortably accommodate, as this saves money on the total interest paid.
- Automate Repayments: Set up an auto-debit facility from your bank account. This ensures payments are never missed, which is the most critical factor for maintaining a good credit score.
- Make Part-Prepayments: Use unexpected income sources, such as annual bonuses or tax refunds, to make lump-sum payments toward the principal amount. For floating-rate loans, you can do this without penalty as per recent RBI norms. Even small, regular extra payments can significantly shorten the loan term.
- Build an Emergency Fund: Maintain a financial safety net to avoid defaulting on EMIs in case of a sudden loss of income or unexpected large expense.
Addressing Myths, Security, and Compliance
Despite the massive adoption of Aadhaar-based lending, understanding the facts around security and dispelling common myths is essential.
Common Misconceptions About Aadhaar Card Loans
- Myth: UIDAI tracks all my bank accounts and financial transactions.
- Reality: Absolutely false. UIDAI only stores basic demographic and biometric data (photo, name, address, fingerprints). It does not store or track bank account details, credit history, or any other financial information.
- Myth: Knowing my Aadhaar number can lead to my bank account being hacked.
- Reality: False. Your Aadhaar number alone cannot be used to withdraw money or hack your account, just like your Debit Card number alone is useless without the PIN/OTP. Biometric or OTP authentication is required for financial services.
- Myth: Only Aadhaar is required for loan approval.
- Reality: Lenders still require a PAN card and income proof (salary slips/bank statements) to assess your creditworthiness and repayment capacity as per RBI norms.
Digital Lending Security & RBI Guidelines
The security of your Aadhaar data is paramount, governed by strict regulations:
- Encryption and Security: Data transmitted during e-KYC is protected using military-grade encryption standards, such as AES-256 encryption.
- Data Protection: Your core biometrics (fingerprints/iris scans) never leave UIDAI’s secure servers.
- Voluntary Use of VID: You can use the Virtual ID (VID)—a temporary, revocable 16-digit number—instead of your actual 12-digit Aadhaar number for KYC to enhance privacy.
- RBI Compliance: Lenders are mandated by the RBI to provide a Key Facts Statement (KFS) detailing all charges, obtain explicit, documented consent before processing your data, and adhere to data minimisation principles [Citation: RBI Digital Lending Directions, 2025].
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.
Frequently Asked Questions
What Is A Rs. 2 Lakh Loan On An Aadhaar Card?
A Rs. 2 lakh personal loan on an Aadhaar card is a personal loan that uses your Aadhaar card for identity verification, simplifying the loan process.
Can I Apply For A 2 Lakh Loan On An Aadhaar Card?
Yes, if you meet the eligibility criteria set by the lender, you can apply for a 2 lakh personal loan on an Aadhaar card.
Who Is Eligible For A 2 Lakh Loan On An Aadhaar Card?
Typically, individuals aged above 21 years with a stable income source, a strong credit score (generally 750+ is preferred), and a valid Aadhaar and PAN card are eligible. Lenders will also check your net monthly income, with minimum requirements generally ranging from ₹20,000 to ₹30,000, depending on your city and employer type.
How Quickly Can I Get A 2 Lakh Loan On An Aadhaar Card Disbursed?
Loans can be disbursed quickly, often within a few hours to 1-2 business days after the final loan agreement is e-signed. This rapid turnaround is due to the efficiency of the digital application process and instant Aadhaar e-KYC verification. The loan amount is credited directly to your bank account after the mandatory cooling-off period (minimum 1 to 3 days depending on loan tenure, as per RBI norms) is completed.
What Happens If I Default On A 2 Lakh Loan On An Aadhaar Card?
Defaulting can severely impact your credit score (CIBIL), leading to future loan rejections and higher interest rates on any future credit you seek. It will also result in penal charges/interest as defined in the Key Facts Statement (KFS). Ultimately, if the default persists, the lender may initiate legal action as per the terms and conditions of the loan agreement. Lenders must, however, adhere to fair practice codes and cannot use aggressive or threatening recovery methods [Citation: RBI Fair Practice Code].
Is Aadhaar e-KYC Enough for Loan Approval?
Aadhaar e-KYC is crucial for fast identity and address verification. However, it is not the only document required. Lenders must also assess your creditworthiness by requesting additional documents like PAN card, salary slips, or bank statements to confirm your income and repayment capacity before sanctioning the loan.
What is the Interest Rate for a ₹2 Lakh Aadhaar Card Loan?
Interest rates are expressed as the Annual Percentage Rate (APR), which includes all mandatory fees. The APR varies based on the lender, your credit score, and the loan tenure, but typically starts from as low as 9.98% per annum for the best-qualified customers and can range up to 30% per annum for unsecured personal loans.
