Aadhar Card Loan: Get Instant Personal Loan

According to the Supreme Court’s judgement on Aadhaar, all Indian citizens must link their Aadhaar card (Aadhaar number) to various financial services like a bank account, and mutual funds. Additionally, an Aadhaar number is a mandatory requirement to avail the benefits of government welfare schemes like LPG subsidy, PMAY (Pradhan Mantri Awas Yojana) , etc.

In 2009, the government of India launched the Aadhaar Program to provide all Indian citizens with a universal identity. It is a 12-digit unique identity number that is issued to all citizens based on their demographic (date of birth, residence address) and biometric data (fingerprints, and iris scan). The data is collected by the UIDAI – Unique Identification Authority of India.Studies suggest that nearly 90% of the Indian population have enrolled with Aadhaar, and it is the biggest biometric database in the world. One of the critical things to know about Aadhaar Card is that it is only a document that acts as proof of residence, and not as a proof of citizenship.Read also : Know the Benefits of Pradhan Mantri Jan Dhan Yojna The government of India launched the Aadhaar card with the following objectives:

• Provide universal identity of all Indian citizens
• Provide a common identity card that works as residence proof, age proof and identity proof
• Eliminate the need for mediators to avail government subsidies

Apart from the universal acceptance of Aadhaar Card as an identity and residence proof, the card has several other benefits, which are listed below:

• JDY or Jan Dhan Yojana is a government financial inclusion program that aims to make financial services like opening a bank account, getting loans accessible to all. To avail the JDY benefits, you must have an Aadhaar card.
• If you have an Aadhaar card, you can get your passport within ten days. Additionally, as per the government rules, an Aadhaar card is a compulsory requirement to apply for a passport.
• A basic savings bank account is a must-have for all. Today, with Aadhar card account opening has become easy, as the card works as an address, age and identity proof.

Although it is not mandatory, having an Aadhaar card makes the loan process much easier. Unlike a few decades ago, the time taken by the lenders to verify the applicants’ documents has reduced drastically since they started accepting Aadhaar Card as proof.The lenders do the KYC verification with Aadhaar as the base document, which has made the instant loan on Aadhaar card a reality. Today, you can get a personal loan approved and receive the amount within a few minutes.

Traditionally, applying for a personal loan involved a complicated documentation process. Today, however, with the digitalisation and Aadhaar card, the process has become much convenient and quicker for the applications. You can get your loan approved by providing an Aadhaar card as the KYC document. All the lenders in India accept the Aadhar card as proof of residence, birth, and identity.

1. Visit the official website of the lender you selected2. Navigate to the personal loan page and select the tab ‘Apply Online’3. Fill the application form by providing your personal and professional details.4. You will then receive a call from your lender’s representative for verification5. Submit your documents along with your Aadhaar card to complete the application process6. After verification is complete, your personal loan will be approved shortly.

In order to apply for a personal loan with Aadhaar card, you must fulfil the following eligibility criteria:1. You must be aged between 23 to 55 years2. You must be a residing Indian citizen3. You must be employed with a public or private sector company or an MNC.

1. High loan value2. Repayment is flexible3. Instant personal loan offers quick approval and disbursal4. 100% transparency

Since, Aadhaar Card is linked to most of the essential documents like PAN card, mobile number, bank account, there was speculation that the Aadhaar card could lead to identity theft. To address the issue, the government of India created virtual IDs to ensure users’ privacy and ensure data protection.The user can generate the virtual Id (a 12-digit number) through the UIDAI website, which helps trace the original Aadhaar number of the person. You can create the virtual ID as many times as you want, and once you create a new ID, the previous will become invalid. So, make sure that you take advantage of the virtual ID to mitigate the data theft risk.