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How can I get a loan from Aadhar card

How can I get a loan from Aadhar card

Aadhar card loan is an unsecured personal loan option that requires e-KYC documents to fulfil the eligibility criteria. The online paperless documentation process has made loan availability easy and hassle-free. Loan verification online requires an applicant’s Aadhar card number to verify the ID proof and address proof submitted during registration. You also need to submit income proofs such as salary slips, Pan Card, bank statement and ITRs of the last few years.  

  How to use Aadhar card for a personal loan

When a financial crisis occurs, the need for money becomes urgent, whether it is for medical expenses or any other emergency. The shortage of funds forces a person to apply for a personal loan. Because the monetary need is urgent,opting for an instant loan application via Aadhar card is a feasible way today.

 
Steps to use Aadhar card to avail a personal loan online:  
 
  1. Install an instant loan app on your phone or visit the loan provider’s website
  2. Register with your mobile number and email id
  3. Enter the mobile number that is linked to your Aadhar card for ID and address verification
  4. Enter the 12-digit Aadhar card Number as KYC proof. Some may accept other documents such as pan card also as proofs.
  5. Some websites may require a scanned copy of Aadhar card with other income-related documents.
  6. After verification of the submitted documents, thesanctioned loan amount will be credited directly into your bank account.
As Aadhar card has a biometric data of the applicant, the verification process becomes quick. The online procedure of loan application has surpassed the traditional form of loan application which would take a long time to process, causing a delay in approvals.
Paperless documentation is made mandatory by the government of India to prevent loan related frauds. Aadhar card contains personal details of an individual; this has decreased the number of fraudulent banking activities online.

Aadhar card forms the base for first-hand verification and speeds up the loan approval process. Several financial organizations have made Aadhar card mandatory for borrowers. Even though your credit score is good, Aadhar card becomes essential when a loan application is initiated.
The SimplyCash instant loan app powered by HEROFINCORP is one such personal loan app that requires anAadhar card number linked with the applicant’s mobile number. Simply Cash is a user-friendly instant loan app that follows paperless documentation and gives a relief to the borrower by instant loan sanction.
 
 
FAQ’s

1. Can we take a loan on Aadhar?

Yes, you can easily take a loan using theAadharcard. Your mobile number should be linked to the Aadhar card. It is a single document for your ID proof and address proof.

2. How can I get a loan from Aadhar card?

You need to scan and enter the Aadhar card number, which should be linked to your mobile number. This quick verification via Aadhar card saves a lot of time, helps in faster loan approval and keeps you stress-free from collecting a bunch of documents in hand.

3. How much loan can I get on Aadhar card?

The loan amount is decided by the lender based on your credit score. Lenders may offer a loan ranging from 50,000 to 1,50,000 or more, depending on the authenticity of documents submitted.

4. Can I get a loan without an Aadhar card?

Yes, you can get the loan without Aadhar card. In case of Aadhar card does not exist, you need to submit other documents like Pan card, ID proof and address proof to the lender. It is used to verify your credibility and income history.

5. Can I get a personal loan on Aadhar card?

Yes, you are eligible for a personal loan using an Aadhar card as a document. Though Aadhar card is not mandatory when applying for a personal loan, it can make the personal loan process easy and quick. You can also use other documents like Passport, driving license or other documents for verifying KYC details.

6. How can I get an instant loan from Aadhar card?

First, check your loan eligibility through the loan EMI calculator. For an instant loan, it is mandatory to link your mobile number to your Aadhar card. Instant loan online is a paperless process, where you need to give your Aadhar card number that facilitates instant loan approval.
 
 

SimplyCash

SimplyCash powered by Hero FinCorp is an instant personal loan app providing cash loans of upto INR 1,50,000 for both salaried and self-employed individuals. Driven by technology and fuelled by innovation, SimplyCash solves instant cash requirements of customers in just a few simple clicks without any physical documentation or meeting. The mobile app is available to users through all popular Android play stores like Google play store, Samsung store, Xiaomi store etc. With one of the most widespread presence, SimplyCash currently offers its services in over 90 major locations in India. Known for a seamless process, instant loan disbursal and transparent pricing - SimplyCash truly lives upto the expectations of being a 'Hero' product.  

Note: SimplyCash is a duly registered trademark and is a loan product offered, managed and operated by Hero FinCorp. Hero FinCorp Limited is a Non-Banking Financial Company registered under the provisions of Reserve Bank of India ("RBI") and is in the business of finance and lending.

Accepted Banks:

ICICI BANK LTD HDFC BANK LTD IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK KOTAK MAHINDRA BANK LTD

IDFC FIRST BANK LTD AXIS BANK BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK INDIAN BANK RBL BANK LTD DEUTSCHE BANK AG CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD CITI BANK BANDHAN BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK UCO BANK

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