Who doesn’t need a job, even when you are doing well, you need a job. Then we take personal loans from the bank. Now see that you can avail loan up to 2 lakh rupees even from your Aadhaar card.
2 lakh loan on Aadhaar card can be availed quickly and without any kind of paper work.
Here are the main benefits of Aadhaar card loan.
Simplified documentation: Aadhaar card based loans are different from normal loans as they do not require more documents like income proof, address proof and identity proof. Aadhaar is being used by lenders as a single document to verify both identity and address.
Digital Process: These loans are offered online and provide a complete digital process. It speeds up approvals, eliminates manual intervention and distribution.
Accessibility: Even those with limited financial documents can avail loans on Aadhaar card. So, if you don’t have a regular source of income, you can still apply for a loan and meet your financial obligations.
Quick Processing: These loans offer fast approvals and disbursements due to the digital application process. This way you can effectively save your precious time.
No Collateral Required: Aadhaar card loans are unsecured, which means you don’t need to pledge any assets as collateral.
Check Eligibility Criteria for 2 Lakh Loan on Aadhaar Card..
Age: Generally, you should be between 21 to 60 years of age. In some cases lenders can approve upto 65 years of age.
Income: Generally, lenders require a minimum monthly income between 15,000 and 25,000 rupees. It is available to both salaried and self-employed individuals.
Credit Score: A good credit score (in the range of 650-700 or higher) increases your chances of getting approved and getting lower interest rates.
Employment Status: You must be a salaried employee or a self-employed person.
Valid Aadhaar Card: For verification purpose, Aadhaar card should be active and linked to applicant’s mobile number.
Documents Required for 2 Lakh Loan on Aadhaar Card
While the specific documents required may depend on the bank’s policies and your overall profile, most lenders require these documents to evaluate your eligibility:
- PAN card
- Bank account statements for the last 3-6 months
- Income proof in case of salaried persons
- ITR Return (for Self Employed)
How to Apply for 2 Lakh Loan on Aadhaar Card?
Online Application: Go to the lender’s website or download their mobile application.
Eligibility Check: Check the eligibility criteria for the loan. You can use the eligibility calculator provided by the lender to determine eligibility.
Document Upload: Upload your Aadhaar Card, PAN Card and Income Proof. Make sure to link your Aadhaar with your mobile number for OTP based authentication.
Approval and Disbursement: After you submit your documents, the loan will be approved. Delivery takes 24 to 48 hours depending on the lender.
