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Today, you can apply for an instant loan using your Aadhaar card as an essential document to prove your eligibility. The Unique Identification Authority of India (UIDAI) card has simplified the verification process during loan application.
Most banks and non-banking financial companies (NBFCs) now finalise the documentation process, known as e-KYC, online using the Aadhaar details you provide. So, you can get instant Aadhaar card loans when you provide a scanned copy of the Aadhaar card during application.
In recent years, the introduction of Aadhaar-linked personal loans has made credit more accessible. Here are the benefits you enjoy by getting a loan with your Aadhaar card:
Flexible Loan Amount
Whether you need a low or high amount, personal loans with an Aadhaar card verification offer flexibility.
You can apply for the amount you need to finance various needs, such as education, medical bills, home improvements, etc.
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Instant Access
When you get an Aadhaar card-based loan, you boost your chances of getting immediate access to funds.
Lenders can use the UIDAI number for quick processing and approval. This way, you can address urgent financial needs or emergencies without delay.
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No Collateral Required
Unlike secured loans that require collateral, personal loans are collateral-free. This means you can borrow the funds without pledging any assets.
This simplifies the process, as you do not need to risk your assets.
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Convenient Repayment Terms
With varying loan tenures, such personal loans provide flexible repayment options. You can choose a plan that aligns with your budget and repay in manageable monthly instalments.
Competitive Interest Rates
Instant personal loans on Aadhaar cards generally come with attractive interest rates. This makes borrowing costs more affordable and helps you avoid high interest payments.
Many financial institutions now use the UIDAI’s biometric authentication and digital database to extend loans. Here are some of the banks and NBFCs that offer personal loans with Aadhaar card as ID proof:
Financial Institution |
Interest Rate |
Minimum Amount |
Maximum Amount |
Max Tenure |
|---|---|---|---|---|
Kotak Mahindra Bank |
Starting at 10.99% p.a. |
₹50,000 |
₹40 Lakhs |
Up to 6 years |
Bajaj Finance |
Starting at 10% p.a. |
₹1 Lakh |
₹55 Lakhs |
Up to 8 years |
Federal Bank |
Starting at 12.75% |
₹50,000 |
₹5 Lakhs |
Up to 4 years |
L&T Finance |
Starting at 12% p.a. |
₹50,000 |
₹15 Lakhs |
Up to 4 years |
Disclaimer: The above-mentioned information is subject to change as per changes in the financial institution’s policies.
You typically need to meet the eligibility criteria for Aadhaar card-based personal loans. These include:
You need to be a resident of India to be eligible for a loan
You must be at least 21 years old
You must be working with a public/ private company or an MNC
You must have a stable income
You must have a high credit score
You also need to submit some documents for verification apart from your Aadhaar card. Here’s what financial institutions generally require:
Other KYC documents like passport, PAN, driving licence, voter’s ID
Bank account statements for the last 3 months
With the advent of the Aadhaar card and digitalisation, it has become easier to apply for a personal loan online. You are only required to show your Aadhaar card as KYC proof. Most financial institutions accept this single document as proof of identity, birth, address proof and citizenship.
The following are the steps to apply for a personal loan with an Aadhaar card:
Visit the official website of the bank or the financial aggregator to check and compare personal loan offers online
Fill in your details and the loan amount requirements
Submit your scanned Aadhaar card and other documents online
Your application and the documents will be verified
Once approved, the sanctioned loan amount will be credited to your bank account
Visit the nearest branch of the chosen financial institution and request the personal loan application form from the bank representative
Complete the application form with accurate personal and financial details
Submit the completed application form along with the required documents to the bank representative
The bank will verify your Aadhaar card and other documents
If approved, the loan amount will be disbursed to your bank account
Yes, you can get a loan by presenting your Aadhaar card. However, unlike before, you do not have to gather several documents to support your loan application.
To get an instant Loan on an Aadhaar card, follow these simple steps:
Select the ‘Check Offers’ button.
Enter your personal credentials
Input your preferred loan amount and repayment tenure
Submit the application form for further verification.
The bank representatives will contact you to inform you about your eligibility and verify your details.
The loan amount you can get depends on your income, loan tenure, and repayment capacity. The Aadhaar card is a supporting document that must be presented when seeking a loan.
You can get a personal loan of up to ₹10,000 with your Aadhaar card by submitting its scanned copy in addition to the application form. After completing your identity verification process, the lender will directly credit your loan amount to your bank account.
Yes, you can get a loan with just an Aadhaar card to verify your identity and address. It is a 12-digit identification number for Indian citizens, which acts as proof of your citizenship and helps you get loans with any NBFC or bank. However, you may also need to submit income documents to prove your eligibility.
Most financial institutions require you to have a credit score of 700 or above to qualify for a personal loan on an Aadhaar card.
The processing time for a personal loan on an Aadhaar card can vary depending on the lender. However, it is generally faster compared to traditional personal loans. Most institutions process it within a few minutes or hours.
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