How To Get ₹10000 Loan on Aadhaar Card?

If you need a ₹10,000 urgent loan, you can get it easily with just your Aadhaar card. How? Simply download the Zype app to make the process quick and hassle-free. Zype’s application takes less than 6 minutes, is fully online, and requires no heavy documentation. Plus, Zype offers affordable interest rates, making repayments easy and manageable. With quick disbursal, you’ll have the funds in no time—whether it’s for an emergency or a short-term need. Zype is your one-stop solution for instant Aadhaar card loans. You can apply within minutes and experience the convenience. 

₹10000 Loan on Aadhaar card

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 10000 loan 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 for Rs. 10,000 loan on Aadhar 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?

₹10,000 Loan on Aadhaar Card: Documents Required

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.

Features of ₹10000 loan on Aadhar card

Some of the best features of ₹10000 loan on Aadhar card with Zype are as follows:

• Quick Application: Apply in less than 6 minutes with a fully online process.
• No Documentation: Only your Aadhaar card is needed—no additional paperwork required.
• Affordable Interest Rates: Affordable rates to keep your repayments easy and stress-free.Zype offers instant loans starting from just 1.5%p.m interest rates.
• Instant Disbursal: Get funds quickly, right when you need them.Loan disbursals happen in less than 60 seconds with Zype
• Flexible Usage: Use the loan for emergencies or any short-term financial needs. Instant personal loans can be used for various purposes unlike home loans or car loans.

Loan of ₹10,000 on Aadhaar Card by Zype: Interest Rates and Other Charges

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 –

EMI Calculation On Rs 10,000 Loan on Aadhaar Card

The EMI on an Aadhaar card loan can be calculated using the below formula –

P x R x (1+R)^N / [(1+R)^N-1].
For example, if Ajay has taken a ₹10,000 loan on an Aadhaar card at a 10% p.a. interest rate for a tenure of 1 year.
Let’s calculate Ajay’s monthly EMI using the formula for EMI calculation:

EMI = [P x R x (1 + R)^N] / [(1 + R)^N – 1]

Where:

• P = Loan amount = ₹10,000

• R = Monthly interest rate = 10% p.a. ÷ 12 = 0.00833 (approx)

• N = Loan tenure in months = 12

Substituting the values:
EMI = [10,000 x 0.00833 x (1 + 0.00833)^12] / [(1 + 0.00833)^12 – 1]

Let’s compute this step-by-step:

Ajay’s monthly EMI would be approximately ₹879.16.

Over the 12-month tenure, he would repay a total of ₹10,549.92 (₹879.16 x 12), which includes the principal amount of ₹10,000 and the interest of ₹549.92.

If you find difficulties in calculating the EMI, with Zype’s easy EMI calculator you can get an idea of what your monthly EMI would look like.

Steps to Apply for a ₹10,000 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.

Also Read: Get ₹15,000 Personal Loan Within Minutes

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 6, 9 and 12 EMIs. The money will be credited to your account instantly.