How to get Loan on Aadhar card

How to get Loan on Aadhar card?

Aadhar card was launched in 2010 and it proved to b be very useful in many public services and the private sector as well. The Aadhar card number is 12-digit unique series that is provided to every Indian citizen after scanning their iris and fingerprints.

Widely, people use Aadhar cards as ID proof but it is also used for many other services like loan, bank account verification, PAN card generation, etc. 

Many institutions in India are providing customers with a personal loan on aadhar card only. The people who wish to apply for instant loan on Aadhar card need to submit their Know Your Customer (KYC) Documentation. Completing the KYC has become extremely simple with an Aadhar card as it contains the biometric information that is why the procedure is now easier and faster. Hence, it has become easy for customers to get an instant loan with an Aadhar card with minimal headache and documentation.

Impact of Aadhar card on personal loans

Personal loans are usually applied in some emergencies by the people in need. That is why the procedure should be quick and easy and loan amounts should be submitted to their bank account as early as possible. Keeping this in mind, there is the Aadhar card loan yojana online, which we will discuss further.

Here, we will discuss in detail the personal loan on aadhar card only, instant loan on aadhar card without salary, and Aadhar Loan App.

Instant Aadhar card loan

Before the Adhar card loan system, the process of getting a personal loan was troublesome and time-consuming. The KYC process, submitting numbers of documents, visiting the financial institutions and what not people used to do.

But after the introduction of the Adhar card, the instant Aadhar card loan has become a very useful service for people in need. Now, they are not required to think twice before applying for the loan or search for so many documents. All they have to do to apply for a personal loan on Adhar card only using just a single document enough for KYC, verification, ID, etc. The customer won’t even have to physically visit the financial institution to apply for an instant aadhar card loan. There are many Aadhar loan app available online making the instant loan on aadhar card without salary process simpler.

Features of instant Aadhar card loan

  • Adhar loan is the best way to apply for a personal loan as it is a quick and fast method.
  • Instant aadhar card loan is available at a rate starting from 10.25% in many banks.
  • The documents required for this loan are age proof, ID proof, Address proof, and photo
  • The loan is approved instantly and the process of verification is very fast.
  • A personal loan on aadhar card only can be taken up to 5 years tenure.
  • No collateral is required.
  • These are unsecured loans.

How to apply for a personal loan on aadhar card only?

The online application options have made the aadhar loan application easier. Many financial institutions are easily providing a personal loan on aadhar card only with a few simple steps. The online process doesn’t require any physical documentation or personal visit to any institution. The only thing you have to do is scan and upload your aadhar card.  Follow the steps below to apply for Aadhar loan:

  1. Visit your bank or financial institution’s website to check and compare loans.
  2. Apply for a personal loan by entering your details.
  3. A representative from your bank will contact you for further process.
  4. Scan and submit our documents and Aadhar card online.
  5. Once the document and Aadhar card is verified, the loan amount will be credited to your account.

Personal loan on Aadhar card only interest rate in Banks – Comparision

Different banks or financial institutions have a different rates of interest. The table below provides the rate of interest and processing fees of the top 10 banks and financial institutions for a personal loan on aadhar card only.

Interest Rate and processing fees of top 10 banks for personal loan

BankRate of InterestProcessing fees
SBI9.60%Nil
HDFC10.25%Up to 2.50%
Bajaj Finserv12.991.50 – 3%
ICICI bank10.25%Up to 2.25% of the loan amount
Axis Bank10.49%Rs, 4999
Induslnd Bank10.49%0.75% to 1.75%
Kotak Bank10.25%From Rs.999
Syndicate Bank12.40%0.50% to Rs.500
Muthoot14.00%2.5% to 3.5%
Union Bank of India8.90%0.50% to Rs. 500

Aadhar card loan yojana online

Adhar card loan yojana allows you to take loans up to 10 lakhs using your Adhar card and no need to submit any kind of guarantee.  This scheme is known as the Pradhan Mantri adhar card loan yojana 2021-2022 which enables you to apply for the loan from Pradhan Mantri mudra yojana from any bank.

You can avail of the loan amount from Rs.50,000 to Rs. 10 lakhs under this scheme at a very minimal rate of interest.  This adhar card loan yojana is best for farmers and low-income groups people.

Features of Pradhan Mantri Aadhar card loan yojana online

Name of the schemePradhan Mantri Adhar card loan Yojana
Types of loanWithout guarantee
EligibilityIndian Citizen
ObjectiveTo support small businesses and low wages group people.
DepartmentMSME

Types of loans under Pradhan Mantri Aadhar card loan Yojana online

The interested people for the PM aadhar card loan yojana online can get all the information about the types of loans available under this scheme:

  1. Rs.10,000 to Rs.50,000 loan

This is the smallest amount loan under the aadhar card loan yojana online which is for small enterprises. They can use this amount to promote and enhance their business.

  • Rs.50,000 to Rs.5 lakhs loan

This loan under the aadhar card loan yojana online is beneficial for the medium business. It can be applied online or offline using aadhar card.

  • Rs. 5 lakhs to Rs. 10 lakhs loan

This is the highest loan limit under the aadhar card loan yojana online which is for small and medium enterprises. This Is also called a Tarun loan.

Aadhar loan app

If you don’t have any income source and you need a loan, the aadhar loan app can help you. You can take from Rs.10,000 to Rs. 5 lakhs personal loan using these apps as they provide you instant aadhar card loan suing your KYC only. No matter what your profession is or you are even working or not, an Instant loan on Aadhar card without salary is available on these Adhaar loan app.

These apps can be easily downloaded from the Play Store to avail the instant loan on aadhar card without salary or with salary. There are numbers of apps providing different types of loans at a different rates of interest, you can choose the one that suits you.

Also Read: List of 16 best investment plans with high returns in India 2021

Benefits of the Aadhar loan app

  •  You can avail of the loan from Rs. 10,000 to 5 lakhs.
  • You are not required to submit any income proof or ITR.
  • No security or guarantee is required.
  • No physical visit to banks.
  • 100% digital loan approval process.
  • Aadhar loan apps are RBI register NBFC approved.
  • Instant loan on Aadhar card without salary is easy with these apps.
  • No advance payment is required.
  • You can increase your CIBIL by paying the loan on time.

Eligibility for Aadhar card loan app

  • You must have Indian citizenship.
  • Your CIBIL must be good.
  • Age must be from 18 years to 55 years.
  • You must possess an aadhar linked mobile number.
  • You must own a savings account and internet banking.
  • You must have a smartphone and an active internet connection.

Documents required for Adhar card loan app

  • PAN card
  • Aadhar card
  • Bank statement
  • Selfie
  • Loan agreement
  • ID

Interest rate and loan fees on Aadhar card loan app

  • The rate of interest can vary up to 35% per annum. Different apps provide different offers on interest rates and loan processing fees.
  • Processing fees can vary from 2% to 5% of the loan amount.
  • 18% GST will be applicable.

Top 10 Aadhar card loan app

There are countless numbers of aadhar card loan apps available online providing different offers to the customers. There are some of the leading apps providing instant loans on aadhar cards without salary. The list is given below:

Top 10 instant loan app on adhar card

Name of the AppLoan amountTypes of loans available
BranchRs. 50,000Personal loan
KreditbeeUp to Rs. 2 lacsCredit line Cash loan Customer loan
SmartcoinUp to 1 lakhPersonal loan
LazypayUp to 1 lakhCredit line Personal loan
NaviUp to 5 lakhsPersonal loan
StashfinUp to 5 lakhsCredit line Personal loan
BulletUp to 10,000Credit line loan
Freo payUp to 30,000Credit line loan
MobikwikUp to 30,000Zip later
RupeeredeeUp to 60,000Personal loan

Frequently Asked questions:

Q1. Can I Get the instant loan using my aadhar card only?

Ans. Yes, you can get the instant loan on aadhar card from many banks and institutions.

Q2. Is it possible to get personal loan even if I don’t have any job?

Ans. Yes, now adhar card has made it easy to apply for an Instant loan on aadhar card without salary. You can apply through any aadhar card loan app.

Q3. Do I need a co-applicant to apply for an aadhar loan?

Ans. No, there is no need for any co-applicant.

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