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How to Apply Personal Loan Using Aadhaar Card?

How to Apply Personal Loan Using Aadhaar Card?

A personal loan application is made easy since the instant loan apps were launched. Financial institutions in India migrated the traditional loan application process to the online platform via instant personal loan apps available for FREE download on Google Play Store or the website. So, how does the verification happen for personal loans online?

The documentation for instant loans online is minimal, accepted in a paperless format. Aadhar cards and PAN cards are mandatory KYC documents to apply for a personal loan online. Even though your credit score is good, an aadhar card becomes essential when a loan application is initiated. E-KYC verification is conducted online when the borrowers submit a personal loan application on loan apps. Aadhar card confirms the borrower’s Name, Age, Nationality, Age, Photo, and Address.

SimplyCash is a reliable instant loan app offering borrowers small cash loans up to 1.5lakh. Real-time document verification is processed in a paperless format via Aadhar card and PAN card details. Collating a bunch of mandatory documents for loan approval is tedious. Instead, go the easy way to avail an instant loan online.
 

Why Personal Loan with Aadhar card?

Aadhar card number linked to your mobile number approves the loan faster. It is mainly a personal identity proof required mandatorily for a background check of the borrower. Here are some key benefits of applying for personal loans online via an Aadhar card:
  • Real-time verification enables instant approval within minutes
  • Quick disbursal of the personal loan amount within 24 hours
  • Multiple instant personal loan requests can be submitted with an Aadhar card
  • Flexible repayment policy as per your convenience within 6 - 24 months
  • Aadhar is verified in a paperless format that is only the unique Aadhar number is entered and submitted for verification. It saves a considerable amount of time.
  • A collateral-free instant loan that doesn’t require a guarantor or an asset for loan approval.

Borrower’s Eligibility Criteria for Personal Loan with Aadhar :

  • Age should be between 21-58 years
  • Must be a resident of India
  • Must be employed with a private or public sector company
  • Must have a minimum income of Rs.15,000/-monthly
Finally, an Aadhar card is considered a significant document for an instant personal loan. Aadhar card introduced in April 2010 changed the loan scenario completely. Borrowers struggling for cash in hand to manage financial emergencies can now opt for an instant loan via Aadhar card. Once the required documents are approved, the loan is disbursed instantly into your accepted bank account.

Besides the Aadhar card, income-related documents are also submitted for loan approval. Salaried and self-employed individuals are required to submit their last 6 months of bank statement. This has reduced the hassles of submitting multiple documents for 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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