Nowadays credit facility is available to the people in a jiffy, which has made the process of getting the loan easy. In today’s digital age, you can easily get a loan online with very few documents. Gone are the days when you had to submit many different types of documents to get your loan approved and this process used to take a lot of time.
Due to the existing KYC laws, you can now get a personal loan on your Aadhaar or PAN-card. Also, the trend of digital verification has increased these days, due to which you can now directly upload your KYC information on the website of the lending company. Due to these reasons, you can get the loan approval instantly by submitting minimum documents. This is possible because the lending companies loan from aadhar card The process can be completed in very less time.
Your Aadhaar contains information about your age, date of birth and address proof. All these information are very important for your loan application. Apart from this, you may need some other documents, which include your PAN card or financial documents, and they can also be uploaded online. If you want to know more about getting the best personal loan with the help of Aadhar card, read on.
Procedure to apply for Personal Loan on Aadhar Card
Applying for Personal Loan on Aadhar Card is very simple, which can be completed in the steps given below:
Visit the official website of the lending company
Click on ‘Apply’ to apply for Personal Loan on Aadhar Card
Fill in the online application form with your personal information, and your income and employment details
Submit your Aadhaar details after filling the online application form
Submit your income documents to help the lender verify your income
Other conditions for getting Personal Loan on Aadhar Card approved
Certain conditions apply while applying for Personal Loan on Aadhar Card as well. Meeting the conditions set by the lending company for approval can help you get the best personal loan. The conditions fixed by most of the lending companies for approval include the following:
750 or higher credit score
The credit score actually lies between 300 to 900, and while applying for the loan, it is this score that decides whether you are eligible to get the loan or not. The higher your credit score, the higher your chances of getting the best personal loan.
Age between 21 to 67 years
Your age decides how much risk you can take as a loan borrower. By estimating your earning potential for the coming years, the lending company gets an idea of how capable you are of repaying the loan on time. Generally, applicants with a younger age can earn for a longer period of time, so they have a better chance of getting a personal loan for a longer period of time.
Jobs in MNC, Public or Private company
Working in a well-known company or organization can increase your credibility in the eyes of the lending company. This shows that your income is assured, and also assures the lender that you will pay the EMIs without any default.
Salary based on location
The standard of living is also different in different cities of India, and depending on this the terms and conditions fixed by the lending company regarding income may be different. Check out the figures decided by the lender in this regard, and tally it up to get instant approval for Personal Loan on Aadhar Card. Lender companies verify your income to know how much you will be able to repay the loan with your existing income.
Other Documents Required for Personal Loan on Aadhar Card
Other KYC documents, such as your passport, driving license or PAN card
bank account statement
employee ID card
Know the interest rates and EMIs to be paid before applying for Personal Loan on Aadhar Card. With the help of EMI calculator, you can think about the loan amount, repayment schedule and EMIs in advance. Most of the loan companies will help you to decide such things. Personal Loan Interest Calculator provides facilities.
Knowing about your pre-approved offers is the best way to get an instant Personal Loan on Aadhar Card in a truly online manner. If you have a good credit profile, you can avail pre-approved offers and help you get the best personal loan. If you are looking for a time-saving solution for a loan, consider Bajaj Finserv Personal Loan on Aadhar Card. Here you can opt for flexi facility to reduce your initial EMIs by up to 45%* and streamline your income. If you have a good credit record, you can get a loan approval of up to Rs 25 lakh in a matter of minutes and get the loan amount in your bank account within just 24 hours*. View your pre-approved offer and click on Apply Online to get started instantly.
terms and Conditions apply