A few years ago, getting a personal loan used to be a lengthy process that required multiple visits to the bank and submitting several documents. But now, things have become much easier.
In today’s digital age, you can get an instant personal loan using just your Aadhaar and PAN card.
If your documents are ready, you can apply for the loan within minutes and receive instant approval.
You can now complete the documentation for a personal loan by uploading digital copies. Aadhaar and PAN are the main documents needed to apply.
Some lenders even offer personal loans using only the Aadhaar card. However, there are a few important things you should keep in mind, which we will explain in this article.
What is an Instant Loan?
An instant loan is a type of personal loan that gets approved and disbursed very quickly. Its main advantage is that the entire process is online,
and only a few documents are needed. It uses digital KYC, where Aadhaar and PAN card are usually enough.
How to Get a Loan Using Aadhaar Card?
Many lenders now offer instant personal loans based solely on the Aadhaar card.
This is especially helpful for those who don’t have other ID or address proof handy. However, in some cases, lenders may also ask for a PAN card and proof of income.
Steps to apply
Fill in your basic details
Complete the KYC process
Choose your EMI plan
This entire process is online, without any physical paperwork. Interest rates start at 10.5%, depending on your income and credit profile.
Benefits of Instant Loan
Quick Approval: In emergencies, fast access to funds is important. Instant loans don’t require a bank visit and can be approved in minutes.
Simple Process: You can apply easily through a mobile app or website with just a few clicks.
Minimal Documentation: No need for heavy files or long lists of documents. Aadhaar and PAN are enough in most cases.
No Collateral Required: You don’t have to mortgage any property. This makes it a risk-free option for emergency needs.
Who Can Apply for an Aadhaar Card Loan?
You are eligible for an Aadhaar-based instant loan if you meet these conditions:
You have a valid Aadhaar card
You are an Indian citizen
You are between 21 and 60 years old (this may vary by lender)
You are salaried or self-employed
You have income proof
You have a good credit score
