No problem ever comes without warning. Sometimes we may suddenly need money. In this situation, we want to take a loan but its process is very long. Now you can easily take an instant personal loan of Rs 2 lakh. You get this loan on Aadhaar Card. Its process is also easy and less documents are required.
Benefits of taking loan from Aadhar card
Less Documentation: Less documentation is required to avail loan against Aadhaar card. Proof of identity and address is proved only through Aadhaar, due to which other documents are not required.
Digital Process: The process of taking loan based on Aadhar card is completely online. Due to the digital process, loan approval is quick and the loan money is immediately transferred to your bank account.
Who can take this loan?
Age: The age of the applicant should be between 21 to 60 years.
Credit Score: Your credit score should be 650 to 700 or higher.
Valid Aadhaar Card: Aadhaar card should be linked to your active mobile number.
employment: The applicant must be a salaried employee or a self-employed person.
Documents required for loan
Loan against Aadhaar card generally requires PAN card, bank statement of last 3-6 months, salary slip or income certificate and income tax return (ITR) for self-employed.
How to apply?
- First of all go to the website of the bank or NBFC or download their mobile app.
- Now check the eligibility criteria for the loan. You can easily find out whether you are eligible for the loan or not with the eligibility calculator on the website of the bank or NBFC.
- Upload documents like Aadhar Card, PAN Card and Income Proof.
- After submitting the documents, the loan is approved and the amount is usually transferred to your account within 24 to 48 hours.