Small Cash Personal Loan on Aadhar Card

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 3, 6, 9 and 12 EMIs.

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.

Here is the interest rate and other details of Zype –

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.

Frequently Asked Question

How to Avail a Personal Loan of Rs 50,000 on Aadhaar card?

You can check the eligibility criteria, documents required and loan terms of different lenders on their websites and get a personal loan of ₹50,000 from the one that works for you.

What is the Maximum Tenure for a Personal Loan?
The maximum tenure offered by Zype is 12 months. Different lenders have different maximum tenure for personal loans.
Can I Get an Instant Loan on an Aadhaar Card?

Yes, there are many loan companies from where you can get an instant loan on an Aadhaar card. You can get loans up to ₹5,00,000 from Zype by giving basic details like name and Aadhaar card number. 

How Much CIBIL Score is Required to Avail Aadhaar Card Personal Loan?

Different lenders have different criteria for minimum CIBIL score to approve a personal loan. You can get this information from their websites.

Is my Aadhaar Information Safe When Applying for a Personal Loan Online?

Your Aadhaar number will be safe if you avail loans from reputed lenders like Zype. It is a good habit to check that your loan company is registered with the RBI.

How Do I Get a Small Cash loan on Aadhaar Card?

To get a loan on Aadhaar card, check your eligibility criteria with different lenders and apply from the one that suits you the most. You can generate your credit line offer with Zype in less than 8 minutes by entering your basic details.

How to Avail a Personal Loan of Rs. 15,000 on an Aadhaar Card?

You can get a ₹15,000 loan on Aadhaar card from a loan app if you meet their eligibility criteria. Check Zype’s eligibility criteria to enjoy same-day disbursal on instant loans.

How Long Does It Take to Get a Personal Loan Approved Using an Aadhaar Card?

Different lenders have different loan approval processes. Some lenders take up to 3 days to approve your loan application. Your credit line offer is generated within 60 seconds after you enter your basic details on Zype.

Can I Get A Loan On Aadhaar Card Only?

While your Aadhaar Card is a very crucial document which is required during your loan application process, you also need your PAN card to get approved.  

How Much Loan Can I Get On My Aadhaar Card?

Different lenders offer different loan limits depending on their risk capacity. In India, you can get a personal loan from Rs. 1000 to even Rs. 40 lakhs with your PAN and Aadhaar card. 

Can I Apply For A Personal Loan On Aadhaar Card If I Have A Low Credit Score?

Yes, you can. There are many lenders available in the market who offer a personal loan to individuals who have a low credit score or are new to credit. However, you may have to pay a high interest on the same. 

Are There Any Hidden Fees Or Charges Associated With Personal Loans On An Aadhaar Card?

A lender is supposed to give you complete clarity on all the fees and charges associated with your personal loan. 

What Happens If I Fail To Repay My Personal Loan Obtained With My Aadhaar Card?

If you fail to repay your personal loan you may face negative consequences like late penalty charges, decrease in credit score and collection attempts from recovery agents. 

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