How to get a loan via Aadhaar Card?
Think of ID proof, the first picture you think will be of Aadhaar card because of its vast acceptance in Indian. Aadhaar card now truly means the name “Aadhaar”- ‘base or support’ as it holds all basic important information of an Indian.
The Aadhaar card is an admirable step of making India digital by the Indian Government. Mostly all kind of details can be easily accessed with the reference of a single 12 or 13 digit Aadhaar number and using it important information like name, age, address, marital status, family details, and information related to biometrics too of an individual can be easily accessed partially or wholly by the government or other permitted private companies. Linking with PAN also assists in assessing an individual’s financial background. Hence it is like all details housed at one home. So Aadhaar card has proved to be beneficial for private companies that are into the sector of Telecommunication, Financial, or other sectors that require customer’s details.
Aadhaar card has got many applications like buying a sim card to getting a loan. For opening a bank account Aadhaar card is essential, to get a new PAN or Passport Aadhaar card is needed. Moreover to file ITRs Aadhaar card comes to the picture there too. So in most aspects of people’s lives, the Aadhaar card plays an important role.
Aadhaar card and Loan
These days in India both private and public sectors are required to submit Aadhaar details to get a personal loan. The procedure to get a loan has become easy and simple because of the Aadhaar card. UIDAI is a database that holds all the details of an individual. Not only loans but using Aadhaar card other financial services can also be availed.
How to get a Loan using Aadhaar card?
To provide a loan, money lending financial companies require various proofs of name, age, address, and all for KYC. But as Aadhaar card itself contains almost all authentic details in itself one or two proofs are sufficient along with the Aadhaar card to get a loan. Hence Aadhaar card fulfills the requirement of KYC which shortens the list of proofs required.
Nowadays, unsecured loans upto Rs.25 lakhs * can be easily availed within 24 hours by just providing Aadhaar card, PAN card and 2 passport size photos (or sometimes bank statements or ITRs too).
Aadhaar card also enables an individual to get loans online with easy and hassle-free procedures using e-KYC in a short time. Application for loans can be done both offline and online.
So majorly following documents are required to get a small amount of unsecured loan:
- Aadhaar card
- PAN card
- 2 Passport size photographs.
Before the Aadhaar card people needed to provide various documents as proof for different information like a voter ID card for citizenship, Electricity bill for residence proof and other similar documents. Many times providing more documents led to delay in the approval of loans as information mismatch in different documents was common but providing a single document Aadhaar card eliminates this thereby reducing the approval time.
Many financial companies approve commodity loans within 24 hours using Aadhaar card and PAN details. The list of these companies is as follows:
[ Find Your Nearest Aadhar Card Kendra: Click Here ]Read also about How to update Aadhaar Card details online or Offline
- HDFC Personal Loan
- ICICI Personal Loan
- SBI Personal Loan
- PNB Personal Loan
- Bajaj Finserv Personal Loan (Disbursed in 24 Hours)
- Tata Capital Personal Loan
- Indiabulls Personal Loan (Disbursed in 24 Hours)
- Citibank Personal Loan
- Yes Bank Personal Loan
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