How To Get ₹10000 Loan on Aadhaar Card?

If you are facing a cash crunch and are looking for options to borrow ₹10000, a personal loan on Aadhaar card can be very helpful. Gone are the days when you had to stand in queues and wait for days to borrow money from a financial institution. With online instant loan apps like Zype, you can get loan approval and disbursal in no time.

In this blog, we will learn about the eligibility criteria, documents required, benefits and charges of an Aadhaar card loan.

₹10000 Aadhaar Card Loan

An Aadhaar card loan is a type of personal loan. Here, the lender uses the borrower’s Aadhaar information to verify the identity in order to provide a loan. Aadhaar card loans are offered by many NBFCs in India. These loans are usually unsecured loans so you can get a loan on an Aadhaar card without pledging any asset.

Getting a loan of 10000 on an Aadhaar card doesn’t mean that you wouldn’t need any other document in the loan approval process. Lenders might ask for other documents for address proof and income proof.

Aadhaar makes it possible for lenders to do an online KYC verification. This reduces the risk of fraud and makes the process more convenient by eliminating the need for manual verification.

Eligibility Criteria for a 10,000 Loan on Aadhaar Card

Banks and NBFCs use eligibility criteria to evaluate borrower’s creditworthiness. This prevents them from giving loans to those who have a higher chance of defaulting on their loans. Lenders use these factors to determine eligibility –

Income – Lenders usually have a minimum monthly salary criteria. Your loan application will be rejected if your salary is less than that.

Credit Score – Every lender has a different “minimum credit score” criteria. A credit score above 700 is considered good by most of the lenders.

Ongoing Loans – Lenders might check this to ensure if you would be able to pay the EMIs or not.

Documents – Loan companies will need your documents to assess your creditworthiness and verify your identity.

You can get an emergency loan on Aadhaar card from Zype if you have a valid PAN and Aadhaar card and you are actively employed with a minimum monthly salary of ₹15,000. Download the app now.

Also Read: Why Opting For an NBFC Personal Loan is a Better Option?

Documents Required for Aadhaar Card-Based Personal Loans

To give you a loan on Aadhaar card, Banks and NBFCs would ask you to upload a photo or enter details of required documents for personal loan. They usually ask for these –

Photo Identity Proof

To verify your identity and prevent fraud, lenders can ask for an Aadhaar card, PAN card, passport, etc.

Proof of Residence

To verify this, you might be asked to submit or upload documents like utility bill, rental agreement and ration card.

Income Proof

You could be asked for bank statements, salary slips or income tax returns to ensure that you would be able to repay the loan.

Benefits of 10,000 Loan on Aadhaar Card

Get Loans Online

You can get personal loans online through a loan app like Zype from the comfort of your couch.

Quick Approval

The loan approval process of personal loans is faster than other loans.

Flexible Repayment Tenure

Lenders give the option to choose from a range of repayment tenures. You can choose the one where you can comfortably repay.

Affordable Interest Rates

If you have a good credit score, you can get low-cost personal loans. For example – The personal loan interest rate on Zype loans starts at 1.5% per month.

No Questions Asked Loans

You can use the personal loan amount for anything you want.

Interest Rates and Other Charges of Aadhaar Card Loan by Zype

Before availing an emergency loan on Aadhaar card, you should check and compare loan offers of different lenders. You should give priority to the lender who gives affordable interest rates as it is the biggest cost on any loan. Also, do not ignore other charges like processing fees, late fees, and prepayment penalties. Check out the details of Zype personal loans –

Loan Amount

₹1,000 to ₹5,00,000

Interest Rate 

Starting at 1.5% (monthly) 

Loan Processing Charges 

Processing fees from 2% to 6% on every loan 

Interest on Overdue EMIs 

Penal interest & late fees will be charged to your total outstanding loan on a daily basis 

Loan Tenure

3-12 months

Steps to Apply for a 10000 Loan on Aadhaar Card

Once you have compared loan offers of different loan companies and finalised a lender, here is a step-by-step process to get a loan on Aadhaar card –

1. Download the loan app and complete the loan application process by entering the details required by the lender and submitting documents to verify your identity and financial stability.

2. The lender will review and analyse your details and give you a loan limit. This could take from a couple of minutes to a couple of days, depending on the loan company’s underwriting process.

3. Once you get the loan offer, review the loan terms, select the loan amount you need and repayment tenure. The lender will transfer the money to your account.

Conclusion

Now you know all the important aspects about availing an emergency loan on Aadhaar card. Download the Zype app now to get an instant personal loan up to ₹5,00,000. There is no need to upload any document. Simply enter your basic details and get loan approval under 60 seconds. Then, proceed to complete the quick KYC process. After this, select the amount and repayment tenure from 3, 6, 9 and 12 EMIs. The money will be credited to your account in less than 24 hours.

Frequently Asked Question

Can I Get A Loan On My Aadhaar Card?

Yes, you can get an instant loan from Zype by entering your PAN and Aadhaar number along with basic details.

How To Get 10,000 Rupees Urgently?

One of the best ways to procure ₹10,000 urgently is through a personal loan. You can choose the lender after checking the eligibility criteria and loan terms of reputed lenders.

How Can I Get A Small Cash Loan On My Aadhaar Card Without Salary?

The best way to get a small cash loan without salary is to apply with a co-applicant who has a good credit score.

Does Taking A ₹10,000 Loan On Aadhaar Card Affect My Credit Score?

Yes, your credit score is likely to increase if you take a ₹10,000 Loan on Aadhaar Card and pay your EMIs on time.

Can I Get An Instant Loan On An Aadhaar Card?

There are many loan apps from where you could get an instant loan on an Aadhaar card if you fulfil their eligibility criteria. You can read about the same on lenders’ websites.

How Long Does It Take For A ₹10,000 Aadhaar Card Loan To Be Approved And Disbursed?

Loan approval and disbursal of ₹10,000 Aadhaar Card Loan can take any time from a couple of minutes to a couple of days, depending upon the application process of the lender. For example – Loan approval on the Zype app takes less than a minute and you would get the money in your account within 24 hours of applying.

What Are The Repayment Terms For A ₹10,000 Aadhaar Card Loan?

Different lenders offer different repayment tenures for a ₹10,000 personal loan. The repayment tenure of a Zype personal loan is 3-12 months.

Is There A Penalty For Late Payments On A ₹10,000 Aadhaar Card Loan?

Yes, if you don’t pay your EMI on the due date, you will be levied a late fee on a ₹10,000 Aadhaar Card Loan. You can read more about it in your loan agreement.