How To Get ₹10000 Loan on an Aadhaar Card?

During a financial crisis, small emergency loans can be a valuable resource. Nowadays, banks and NBFCs offer immediate loans ranging from Rs. 10,000 to Rs. 50,000 based on the Aadhaar card. These loans function like minor personal loans, serving various purposes such as home repairs, vacation planning, monthly rent payments, unforeseen expenses, or acting as a temporary salary bridge.

Aadhaar card loans are typically unsecured, eliminating the need for collateral. Banks and NBFCs employ biometric data from the Aadhaar card to streamline the loan application process. While applicants must provide a few additional supporting documents, it’s important to note that a valid Aadhaar Card, PAN card, and bank account are essential for applying for an Aadhaar card loan.

In instances where an applicant lacks a PAN card, alternative documents like a Voter ID card, passport, driver’s license, salary slips, etc., may be required. The specific set of documents varies from one bank to another, and there is no fixed standard for the necessary documentation.

Read on to learn the steps to apply for a Rs 10000 loan on Aadhaar card.

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Features of ₹10,000 Loan on Aadhaar Card

Here are some of the features of a ₹10000 loan on Aadhaar card:

• Instant Disbursal

  Aadhaar card loans offer swift disbursal. Simply provide your Aadhaar card details for the loan verification process. Your loan will be transferred to your account within minutes upon approval.

• Minimal Documentation

  Obtaining a 10000 personal loan on an Aadhaar card doesn’t require a plethora of documents. Just furnish your Aadhaar details to secure your desired loan amount.

• Attractive Interest Rates

  Competitive interest rates for Aadhaar card loan 10000 start at 9.9% p.a. However, the final rate is contingent on your eligibility and is subject to the lender’s discretion.

• Flexible EMI Options

  Benefit from flexible repayment periods ranging from 3 months to 72 months. Choose your preferred tenure during the application process and repay at your convenience.

Steps to Get Rs.10,000 Loan on Aadhar Card

If you’ve reviewed all the criteria for eligibility and are wondering about the process for obtaining a ‘₹10000 loan on Aadhaar card,’ follow these steps:

• STEP-1: Access the lender’s app or website, log in with your credentials, submit all required documents, and assess your eligibility.
• STEP-2: Verify your mobile number and complete your KYC using your Aadhaar.
• STEP-3: You may need to authenticate your income by providing details from your bank account or submitting salary slips.
• STEP-4: Depending on your creditworthiness, you will receive a loan offer. Choose the desired amount and tenure from the available options.
• STEP-5: Once your documents are validated, the loan amount will be deposited into your bank account within 24 hours in most cases.

Eligibility Criteria for an Aadhar Loan

Individuals who meet the fundamental eligibility criteria can apply for a ₹10000 loan on Aadhaar card. Once these criteria are satisfied, you can proceed with the application process and receive prompt approval for the loan.

• Age

  The minimum age requirement for applying for a Rs. 10000 loan on Aadhaar card is 21 years. The upper age limit varies among lenders and may extend up to 65 years.

• Income

  To be eligible for a Aadhaar card loan 10000, a minimum net monthly income of Rs. 25,000 is necessary.

• Creditworthiness

  A minimum credit score of 750 and above is a prerequisite for eligibility when applying for a loan on an Aadhaar card.

• Permanent Employment

  Specific lenders may mandate evidence of sustained employment for a specified minimum duration, typically ranging from 3 to 6 months.

• Permanent Residence

  Some lenders also request proof of consistent residence, which may include documents such as maintenance bills, electricity bills, etc.

Advantages of Taking a Loan on an Aadhar Card

• There are numerous benefits associated with obtaining a Rs. 10000 loan on Aadhaar card. Here are some key advantages:
• The presence of an Aadhaar card expedites the process, thanks to its easy verification.
• The requirement for fewer documents arises, as the Aadhaar card serves the dual purpose of identity and address proof.
• Opting for a personal loan using your Aadhaar card ensures an unsecured loan, eliminating the need to pledge any asset or collateral.
• If you choose an instant loan using your Aadhaar card, the loan amount is typically disbursed within 24 hours or less in most cases.

Things to Remember Before Applying for an Aadhaar Card Loan

Take note of the following factors when applying for a Rs. instant loan 10000:

• Compare various lenders to identify a suitable match.
• Verify that your credit score is in good standing.
• Assess your repayment capacity carefully.

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Conclusion

Financial emergencies are often beyond your control. Yet, during such challenging situations, leveraging a loan based on your Aadhaar card allows you to navigate the urgent circumstances with ease. Numerous online money lending apps offer loans against Aadhaar cards with flexible repayment terms. Simply provide your UIDAI number and necessary documents, and you can secure a Rs. 10000 loan on Aadhaar card within a matter of hours. It’s crucial to ensure that the money lending app you choose is reputable and trustworthy.

Frequently Asked Questions

Why Should I Take A Loan Using My Aadhar Card?

Opting for a loan through your Aadhaar card is a swift and streamlined process. The ease of authenticating the Aadhaar card results in faster approval for your loan. Hence, obtaining a loan using your Aadhaar card is a wise decision.

What Can I Use My Personal Loan For?

A personal loan of 10000 loan on Aadhaar card serves a multitude of purposes. Whether it’s financing a vacation, covering educational expenses, consolidating debt, addressing medical needs, or handling a family emergency, the flexibility of a personal loan allows for diverse applications.

Can I get a Rs 10000 personal loan without a salary slip?

Certainly, it’s possible to obtain an instant loan 10000 even if you’re unable to provide salary slips. In such cases, you may need to furnish your bank statements from an account associated with your salary.

Is it mandatory to have a PAN card to avail of the Rs 10000 loan with an Aadhaar card?

No, having a PAN card is not obligatory to instantly access a Rs. 10000 personal loan using an Aadhaar card. However, certain lenders might stipulate the need for a PAN card in order to proceed with your loan application.