The Government of India launched the Aadhaar card in 2010 to help individuals enjoy certain services in both the public and private sectors.  Aadhaar number is a unique 12-digit number provided by the government to all Indian citizens by collecting their iris scans and fingerprints.

  Aadhar card not only serves as a proof of citizenship, but also allows individuals to avail loans, open bank accounts, buy SIM cards, obtain a Permanent Account Number (PAN) card, apply for a passport and file their income tax returns.  also helps.

  The main purposes of Aadhar card are given below:

  I

  Impact of Aadhar Card on Personal Loan

  Individuals who want to avail any financial service will have to submit Know Your Customer (KYC) documents.  The government has made it mandatory for financial institutions and banks to collect customer's KYC details to prevent money laundering.  Earlier, KYC used to require a lot of documents, however, completing KYC is very easy nowadays.  Banks have also started e-KYC, where the entire KYC process is digitized.  Since Aadhaar contains biometric data of individuals, verification is a simple and fast process.

  Fees and Charges The chargeable interest rate starts from 1.33% per month, the loan processing fee varies from 2% to 8% of the sanctioned loan amount.  Processing fee is deducted from the loan sanctioned.  Interest on overdue EMI 2% per month on overdue EMI / principal loan amount.  Check bounce Rs.  500/- every time.  debt cancellation

  No extra/hidden charges levied.

  Processing fees will also remain the same.

  Personal loans are mostly taken by individuals for emergency purposes.  So, they will need verification process and loan amount to login to their bank account as soon as possible.  The main purpose of Aadhar card is to speed up the process.  KYC verification has been digitized and getting a personal loan has become very easy.  The personal details of the individual are found in the Aadhar database, hence, the time taken to get the loan sanctioned is less.

  Method to use Aadhaar to apply for personal loan online

  Even though it is not mandatory for individuals to provide their Aadhar card, it is very easy to get a personal loan using one.  If Aadhaar details are provided by the borrower, the process of completing the verification becomes easier for the bank employees.  There is also a paperless mode in which documents can be submitted online which is called e-KYC.  In case of e-KYC, there is no need to submit any physical documents by the individual.  There are many banks which also provide instant loan if the borrower uploads the scanned copy of Aadhar card.

  to write about such a way that shows

  List of Non-Banking Financial Companies (NBFCs) and Banks using Aadhar Card as the Main Proof of Identity

  hdfc personal loan

  SBI Personal Loan

  Indiabulls Personal Loan

  ICICI Personal Loan

  PNB Personal Loan

  Capital First Personal Loan

  Frequently Asked Questions (FAQs)

  Can I get a personal loan against my Aadhar card?

  Yes, you can use your Aadhar card and apply for personal loan with any bank or NBFC.

  Can I apply for personal loan on my Aadhar card online?

  Yes, you can apply for Personal Loan against Aadhar Card online.

  Is it possible to apply for personal loan on Aadhar card without PAN card?

  Yes, you can apply for Personal Loan on Aadhar Card without PAN Card.  However, in such cases, you will need to provide some other documents such as your voter ID card, passport, driving license, salary slip etc.  The list of documents will be subject to the requirement of the loan provider.

  How long does the loan application process take when you apply for a personal loan on Aadhar card?

  This is usually a quick process as the Aadhaar card contains the biometric data of the applicant.  Biometrics allows a faster and simpler verification process and thus, allows for a quick application process.

How to Get Instant Loan on Aadhaar Card

  How long does it take for the disbursement of the loan amount?

  You must meet the eligibility criteria for the loan application.  The verification process does not take much time.  If all the documents are submitted and verified on time, the loan amount is usually disbursed within 2 to 3 days.

  Will I need a co-applicant for personal loan on Aadhar card?

  Generally, you will not need to apply for a personal loan with a co-applicant.

આ લિંકથી આધારકાર્ડ થી લૉન કઈ રીતે લઈ શકાય જાણો અહીં