How to Get Instant Loan by Using Aadhar Card

There is a possibility of getting an unsecured loan with the help of your Aadhar card. This unsecured financing option is providing to the customers by the banks. The Aadhar card of the applicant can be used both as the address proof and ID proof. Other necessary documents along with the Aadhar cards also have to be submitted.

How to Get Instant Loan by Using Aadhar Card

Personal loans can be used to fulfill the emergency requirements such as education loan, medical emergencies, for renovating a house. KYC documents have to be submitted when you are planning for a loan. It is compulsory for all the individuals to submit all the KYC documents to the financial institutions and banks.

instant loan on aadhar card

Aadhar Card impact on instant loans-

Previously many documents would be asked by the banks to the customers to avail of a loan. The loans will be approved only if you have submitted all the asked documents. Need to wait much for the loan approval. But now after the introduction of Aadhar cards, it made it easier for the quick process. As all the details like name, age, the address is found in one place in Aadhar. This makes the verification of the individual easily.

Process of Application of Instant Loan using Aadhar-

Application and approval of instant loans become easier by the online process. Many lenders are now providing personal loans in very few steps and simple. As many lenders and institutions are providing the loans the applicants can compare the best loan offers, interest rates and can select the NBFCs and top banks to apply for taking the loan.

As this is the online process there is no physical documentation process will be there. You have to upload the scanned documents of the Aadhar card.

  • Visit the official web portal of the financial aggregator.
  • Select to apply for the personal loan of the website.
  • Give all the details asking in that and also the loan requirements.
  • To verify all the details, the representative will make you a call.
  • Along with all this, you also have to submit the scanned Aadhar card along with the other documents.
  • Once the verification of documents is done, the loan will be sanctioned to the applicants.

Top NBFCs and top banks which provide loan depending on Aadhar card

Below is the list of the banks and NBFCs which are offering instant loans to the customers considering Aadhar as a primary ID proof.

ICICI Bank-

In the private sector, ICICI Bank is one of the leading banks. The application procedure with the bank is very simple, minimal documentation and flexible repayment.

Necessary documents for the salaried employees-

  • Identity Proof- Passport, Driving license, Aadhar card, etc.
  • Address Proof- Passport, driving license, voter ID card, Aadhar card.
  • Last three months’ salary slips.
  • Last three months Bank statements.

HDFC Bank-

HDFC offers instant loans to its customers starting with the interest rate of 10.75%. Along with this, there are many tenure options available with this bank, it follows the fast process. This provides great customer service to the customers. Any security or collaterals are not required by the customers to get the loan.

Required documents-

  • Identity Proof- Passport, Driving license, Aadhar card, etc.
  • Address Proof- Passport, driving license, voter ID card, Aadhar card.
  • Last three months’ salary slips.
  • Last three months Bank statements.

SBI- State Bank of India

Loans with the attractive interest rates are offered by the SBI Bank. On the one-time processing fee, the tenure of the loan can be raised up to five years with the nominal.

Required documents-

  • Identity Proof- Passport, Driving license, Aadhar card, etc.
  • Address Proof- Passport, driving license, voter ID card, Aadhar card.
  • Last three months’ salary slips.
  • Last 6 months Bank statements, form 16, salary slips which should be the latest, ITR of the last 2 years.
  • Passport-sized photographs.

PNB- Punjab National Bank

PNB offers loans to its customers with attractive repayment tenures and with the very low-interest rates.

Required documents-

  • Identity Proof- Passport, Driving license, Aadhar card..etc
  • Address Proof- Passport, driving license, voter ID card, Aadhar card.
  • Last three months’ salary slips.
  • Last 6 months Bank statements, form 16, salary slips which should be the latest, ITR of the last 2 years.

Some of the Common FAQs About Instant Loan

  • By using the Aadhar card, can I get the loan?

Yes, you can apply for the loan on the basis of the Aadhar cards.

  • How will I get an instant loan using my Aadhar card?

As the Aadhar card of each and every individual contains the details about the biometric data, this makes the verification of the applicant easy and fast. After verification, the loan will be sanctioned.

  • Can I get Rs.50,000/- loan using Aadhar?

Yes, you can get an instant loan of Rs.50,000/- by using your Aadhar. First, you have to apply for the loan visiting the official portals. Once fulfilling the details and submitting the documents, verification will be done by the representative of the financial institution. Once you qualify in verification, your loan will be approved.

  • Can I get a loan using my PAN Card?

One who is not having the PAN cards to take a loan; they can submit the other relevant documents such as Aadhar card, driving license, and passport. Etc.

  • Can I get an immediate loan?

To get the loan immediately one should have a good credit score which should be above 700. They should have all the relevant documents necessary for taking a loan along with the good financial stability. Once an individual fulfills the eligibility criteria, within 2-3 days you can get the loan.