How to get a Personal loan against an Aadhaar with ease!
Today, you can apply for an instant loan using your Aadhaar card as an essential document to prove your eligibility. The Unique Identification Authority of India (UIDAI) card has simplified the verification process during loan application.
Most banks and non-banking financial companies (NBFCs) now finalise the documentation process, known as e-KYC, online using the Aadhaar details you provide. So, you can get instant Aadhaar loans when you provide a scanned copy of the Aadhaar card during application.
Features and Benefits of Personal Loans on Aadhaar Card
In recent years, the introduction of Aadhaar-linked personal loans has made credit more accessible. Here are the benefits you enjoy by getting a loan with your Aadhaar card:
Flexible Loan Amount
Whether you need a low or high amount, personal loans with an Aadhaar card verification offer flexibility. You can apply for the amount you need to finance various needs, such as education, medical bills, home improvements, etc.
Instant Access
When you get a loan on Aadhaar, you boost your chances of getting immediate access to funds. Lenders can use the UIDAI number for quick processing and approval. This way, you can address urgent financial needs or emergencies without delay.
No Collateral Required
Unlike secured loans that require collateral, personal loans are collateral-free. This means you can borrow the funds without pledging any assets. This simplifies the process, as you do not need to risk your assets.
Convenient Repayment Terms
With varying loan tenures, such personal loans provide flexible repayment options. You can choose a plan that aligns with your budget and repay in manageable monthly instalments.
Competitive Interest Rates
Personal loans with Aadhaar cards generally come with attractive interest rates. This makes borrowing costs more affordable and helps you avoid high interest payments.Many financial institutions now use the UIDAI’s biometric authentication and digital database to extend loans. Here are some of the banks and NBFCs that offer personal loans with Aadhaar card as ID proof:
Financial Institution |
Interest Rate |
Minimum Amount |
Maximum Amount |
Tenure |
Kotak Mahindra Bank |
Starting at 10.99% p.a. |
₹50,000 |
₹40 Lakhs |
Up to 6 years |
Bajaj Finserv |
Starting at 11% p.a. |
- |
₹40 Lakhs |
Up to 8 years |
IDFC First Bank |
Starting at 10.99% p.a. |
- |
₹10 Lakhs |
Up to 5 years |
Standard Chartered Bank |
Starting at 11.99% p.a. |
₹1 Lakh |
₹15 Lakhs |
Up to 5 years |
Disclaimer: The above-mentioned information is subject to change as per changes in the financial institution’s policies.
You typically need to meet the eligibility criteria for personal loans with Aadhaar cards. These include:
You need to be a resident of India to be eligible for a loan
You must be at least 21 years old
You must be working with a public/ private company or an MNC
You must have a stable income
You must have a high credit score
You also need to submit some documents for verification apart from your Aadhaar card. Here’s what financial institutions generally require:
Other KYC documents like passport, PAN, driving licence, voter’s ID
- Bank account statements for the last 3 months
With the advent of the Aadhaar card and digitalisation, it has become easier to apply for a personal loan online. You are only required to show your Aadhaar card as KYC proof. Most financial institutions accept this single document as proof of identity, birth, address proof and citizenship.
The following are the steps to apply for a personal loan with an Aadhaar card:
Online:
Visit the official website of the bank or the financial aggregator to check and compare personal loan offers online
Fill in your details and the loan amount requirements
Submit your scanned Aadhaar card and other documents online
Your application and the documents will be verified
Once approved, the sanctioned loan amount will be credited to your bank account
Offline:
Visit the nearest branch of the chosen financial institution and request the personal loan application form from the bank representative
Complete the application form with accurate personal and financial details
Submit the completed application form along with the required documents to the bank representative
The bank will verify your Aadhaar card and other documents
If approved, the loan amount will be disbursed to your bank account
Frequently Asked Questions
Can I get a loan on an Aadhaar card?
Yes, you can get a loan by presenting your Aadhaar card. However, unlike before, you do not have to gather several documents to support your loan application.
How can I get an instant loan using an Aadhaar card?
To get an instant Loan on an Aadhaar card, follow these simple steps:
Visit your bank’s official website
Enter your loan requirements and personal details
The bank representatives will contact you to inform you about your eligibility and verify your details
Submit a scanned copy of your Aadhaar card and other requested documents
After verifying your documents, the lender will sanction your loan and disburse the amount into your bank account.
How much loan can I get on an Aadhaar card?
The loan amount you can get depends on your income, loan tenure, and repayment capacity. The Aadhaar card is a supporting document that must be presented when seeking a loan.
How can I get a ₹10,000 personal loan on an Aadhaar card?
You can get a personal loan of up to ₹10,000 with your Aadhaar card by submitting its scanned copy in addition to the application form. After completing your identity verification process, the lender will directly credit your loan amount to your bank account.
Can I get a loan with an Aadhaar card only?
Yes, you can get a loan with just an Aadhaar card to verify your identity and address. It is a 12-digit identification number for Indian citizens, which acts as proof of your citizenship and helps you get loans with any NBFC or bank. However, you may also need to submit income documents to prove your eligibility.
What is the credit score required to get an Aadhaar card loan?
Most financial institutions require you to have a credit score of 700 or above to qualify for a personal loan on an Aadhaar card.
What is the processing time for an Aadhaar card personal loan?
The processing time for a personal loan on an Aadhaar card can vary depending on the lender. However, it is generally faster compared to traditional personal loans. Most institutions process it within a few minutes or hours.
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