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Is it Mandatory to have Aadhaar Card to avail Personal Loan

Is it Mandatory to have Aadhaar Card to avail Personal Loan

Although it is not mandatory to provide an Aadhaar card, but having an Aadhaar card handy while loan application will make the loan approval process much easier. Aadhaar card consists of a unique 12-digit alphanumeric code that serves as an individual identity proof as well as address proof accepted by all financial institutions.
 
Funds needed for personal reasons can be endless. The reason could be as small as buying a washing machine or as big as wedding expenses or any kind of personal emergency. Thus, submitting an Aadhaar card to avail a personal loan will allow the verification process faster and will be simpler for the lenders, resulting in quick approval and disbursalof funds. In the absence of Aadhaar card, borrowers can submit PAN card copy or a driving license.
 
Different Types of Personal Loan on Aadhaar Card
 
Avail a personal loan on Aadhaar card for diverse reasons that include-
 
  • Wedding expenses
  • Home renovation
  • Buying consumer products
  • Debt consolidation
  • Higher education
  • Vacation/travel
  • Medical emergency
 
However, Simply Cash, a smart instant personal loan app powered by HeroFinCorp offers a personal loan on Aadhaar card in a range of 50,000 - 1,50,000, based on different cities and individual’s monthly income.
 
Features and benefits of a Personal Loan on Aadhaar Card to suit the borrowers:
 
  • Instant approval
  • Flexible repayment tenure of 6-24 months
  • Facilitates customization of loan amount & EMI
  • Disbursal of personal loan within 24 hours
  • No hidden charges
  • Paperless documentation helping in instant loan sanction
  • Automated repayment schedule
  • Low interest rate
 
 
How to apply for a Personal Loan on an Aadhaar card?
 
With online instant personal loans, Aadhaar card is considered as the basic document for instant loan requirements. Aadhaar card details submitted online allows borrowers to complete the paperless documentation and hassle-free application process precisely.
 
Apply for personal loan on Aadhaar card through SimplyCash instant personal loan app online:
 
  • Install the SimplyCash loan app from Google play on your android phone
  • Register your Mobile number for OTP verification
  • Enter your Aadhaar number linked to your mobile number
  • Plan and select your loan amount and tenure to derive a suitable EMI
  • Fill in the basic details like your personal, professional, and employment details
  • Once the verification and validation are done,the personal loan amount will be disbursed within 24 hours.
 
Students applying for education loan to study abroad should have their Aadhaar card handy. It confirms your citizenship in a foreign land, speeds up the application process and increases credibility of the borrower. Over all, Aadhaar card stands as a strong proof about the authenticity of the borrower during the loan application process.
 

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.

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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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