Personal Loan Against Aadhar Card

Last Updated — 26th Oct, 2022

Aadhar Card Loan: Aadhar card is a document commonly used to avail of various banking services offered by selected financial institutions, such as applying for personal loans, filing ITR, availing government subsidies, applying for a PAN card to do, etc. However, there is a lot of confusion regarding the use of an Aadhar card to avail of a personal loan. Read on to get an insight into the same:

Aadhar card is one of the primary documents required by most of the banks/NBFCs for personal loan approval. Ideally, there is no term called Aadhar card personal loan. Applicants can get instant personal loans against credit cards and fixed deposits but not against Aadhar cards. Some people have a misconception that they can avail of a personal loan against their Aadhar card. However, no such product exists yet in the banking and financial sectors.

Aadhar Card Personal Loan Interest Rates

How to Apply for Personal Loan Online Using Aadhar Card

The online process has made it easy to apply for a personal loan. There are many fintech lenders that allow you to apply for a loan in a few simple steps. With the help of such platforms, you can analyze and compare various personal loan deals offered by top banks and NBFCs in India. They work closely with their associate banks to get the best loan offers, attractive discounts, and low-interest rates for you. During the online process, no physical documents are required to be submitted by the applicants. All you have to do is upload the scanned copy of your Aadhar card.

Visit the website of the bank or financial aggregator to check and compare loan offers.
Apply for a personal loan on the website. Enter your personal details and loan requirements.
Post this, a representative will contact you to verify your details.
Submit your scanned Aadhar card and other documents online.
After verification of documents, the sanctioned amount will be credited to your bank account.

Eligibility and Documents Required for Aadhar Card Loan

Given below are the personal loan eligibility criteria for an Aadhar card:

Age: Applicant age should be minimum of 21 years at the time of applying for a loan and a maximum of 60 years on loan maturity (60 years for self-employed).
Credit Score: Your credit score should be 750 or above to be eligible for Aadhar Card Personal Loan.
Salary: The minimum net monthly income required to apply for the loan is Rs. 25,000.
Minimum work experience: You must have a minimum of 2 years of work experience and at least 1-year of experience with the current organization.
Year in current residence: You must have resided in your current residence for at least the last 1 year.

Documents required for loan application:

• Duly filled personal loan application form with passport-size photographs
• KYC documents
• Identity Proof: Passport, Driving License, Voter ID, Aadhar Card
• Address Proof: Utility Bill, Passport, Aadhar Card
• Income Proof: Salary Slip and ITR Return
• Any other document required by the lender

Eligibility Criteria:

Applicants between 21 to 60 years of age
The credit score must be 750 or above
Minimum 2 years and Minimum 1-year work experience with the current company
Net monthly salary of Rs. 15,000

Banks/NBFCs using Aadhar Card as Primary Identity Proof

Very few to zero lenders may consider Aadhar cards as the primary source for offering personal loans. Rest, most of them consider your income, credit score, and repayment capacity as the basic eligibility criteria for granting a personal loan.

List of Top Banks and NBFCs Using Aadhar Card as Primary Identity Proof

SBI Personal Loan
SBI offers personal loans at attractive interest rates. The repayment period can go up to 5 years with a nominal one-time processing fee.

Some Required Documents:

• Proof of Identity: PAN Card, Aadhar Card, Driving License, Passport, etc.
• Address Proof: Voter ID Card, Aadhar Card, Passport, or Driving License
• Income Proof: Bank statement for last 3 months, Form 16, Latest salary slip, Account statement for last 6 months, ITR return for last 2 years
• passport size photo

PNB Personal Loan
PNB offers personal loans at attractive interest rates and attractive repayment tenure.

Some Required Documents:

• Address Proof: Voter ID Card, Aadhar Card, Passport, PAN Card, or Driving License
• Proof of Identity: Aadhar Card, Driving License, Passport, etc.
• Other Documents: Bank statement of last 3 months, Form 16, Latest salary slip, Audit of Account statement of last 6 months, ITR return for last 2 years

HDFC Personal loan
The bank offers personal loans starting at an interest rate of 11.00%. HDFC offers multiple tenure options, quick processing, and great customer service. Applicants are not required to pledge collateral or security to avail of the loan.

Some Required Documents:

• Proof of Identity: Aadhar Card, Driving License, Passport, etc.
• Address Proof: Voter ID Card, Aadhar Card, Passport, or Driving License
• Other Documents: Bank statement of last 3 months, Form 16, Latest salary slip, Passport size photograph

ICICI Personal Loan
ICICI Bank is one of the leading private sector banks. It offers a hassle-free application process, flexible repayment tenure, and minimal documentation.

Documents Required for Salaried Applicants:

• Proof of Identity: Aadhar Card, Driving License, Passport, etc.
• Address Proof: Voter ID Card, Aadhar Card, Passport, or Driving License
• Salary slip for last 3 months
• Bank statement for last 3 months

Features and Benefits of Aadhar Card Personal Loan

• Loan amount: Minimum Rs. 10,000 to Rs. 50 Lakhs loan on Aadhar Card can be availed
• Rate of interest: Personal Loan Interest Rates start from 10.50% p.a. for private lenders and 8.35% p.a. for public sector banks.
• Tenure: Usually personal loan repayment tenure varies between 1 to 5 years. However, some banks may provide tenure of up to 72 months.
• Processing fee: Up to 2% of the sanctioned amount for an Aadhar Card Loan.
• Prepayment charges: Up to 4% of the outstanding loan amount.
• TAT: TAT’s Full form is Turn Around Time. Depending on each lender’s process, the turnaround time of an Aadhar Card Personal Loan may vary between a few hours up to a few days. Some mobile-based apps also disburse the loan amount within a few minutes.

Key benefits of Aadhaar Card Personal Loan are:

• Easy access to loans and other financial services as service providers ask their customers for Know Your Customer (KYC) documentation and Aadhar is the best way to prove your identity and citizenship.
• Single document for multiple proofs like citizenship, address, age, photo, and identity.
• The card can also be used for e-KYC, i.e., online verification.
• The application process gets simplified and fast.
• One document (Aadhaar Card) can be used for age proof, identity proof, photo identity proof, and address proof. Also, you can check the importance of the PAN Aadhar link to enjoy other benefits in one go.
• At times, you don’t even have to provide a copy of an Aadhaar Card, only the 12-digit UID number is enough.

Aadhaar Card Customer Care Number Toll-Free – 1947

If you have any kind of concern related to your Aadhaar card, you can contact the UIDAI through their toll-free number, social media, or through email to raise any concern, provide any feedback, or seek any clarifications.

The toll-free number for UIDAI is 18003001947 or simply 1947.

The headquarters of the UIDAI is located in Delhi. Given below is the address of the UIDAI Headquarters:

Unique Identification Authority of India (GOI)

3rd floor, Tower II,

Jeevan Bharati Building,

Connaught Circus, New Delhi – 110001

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