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How to Get Online Personal Loan from Aadhar Card?

Personal loans can help a person to meet urgent financial needs. Our daily lives can be unpredictable at times, and we may face financial shortages. In such a situation, personal loans can help us get out of any financial situation. There are several documents and IDs required for getting a personal loan in India. One should know about the things required for getting a personal loan in India. Here’s how you can get a personal loan via your Aadhar card in 2022.

Know about personal loans

Why should one choose a personal loan to fulfill their financial needs? Well, personal loans are preferred by people as they do not demand collateral. Many NBFCs offer personal loans without collateral to the ones in need. Personal loans in India can be used for any financial need. One can shop for gadgets with a personal loan in India or pay their tuition fees. One can easily get an Aadhar card loan in India to fulfill their financial needs. Besides personal loans, business loans and home loans also require the Aadhar card of the loan applicant. Along with your card, you also have to fulfill the eligibility conditions for getting a personal loan in India.

How to apply for a personal loan with my Aadhar card in 2022?

To apply for a personal loan via your Aadhar card in 2022, you need to choose an NBFC in India. Loan applicants should choose an NBFC like Fullerton India that offers loans via a digital platform. When you choose a digital portal for getting a personal loan, you don’t have to step out of your house. You can skip long queues by applying for a personal loan on a digital platform. Just have to visit the official website or download the Android/iOS application to apply for a personal loan.

You can start filling out your loan application on the digital platform. You can get a personal loan of INR 50,000 to INR 25 lakhs with your card. Borrowers can view the personal loan interest rates and choose your loan amount and tenure. However, the loan provider will decide your loan amount based on your salary, credit score, credit history, debt situation, and other factors. Besides your Aadhar card, you also need other documents to get an instant personal loan. The IDs and documents required to acquire a personal loan in India are given below:

  • You may have to submit your PAN card, driver’s license, or other ID cards for getting a personal loan in India.
  • You will have to show your salary slips to get a personal loan in 2022. Usually, NBFCs demand salary slips for the past few months to offer an Aadhar card loan.
  • Your bank account statement for the past six months is also needed to process the loan application. Your bank account statement will highlight the stability of your income to the loan provider.

Terms for acquiring a personal loan with your Aadhar card in 2022

Along with your Aadhar card and other documents, you also need to fulfill several conditions for getting a personal loan in India. The terms for acquiring a personal loan with your Aadhar card are as follows:

  • You need to be a salaried individual and a resident of India to get an Aadhar card loan. Your salary will decide how much personal loan you can get via an NBFC.
  • Your name and other details should be the same on the Aadhar card, PAN card, and bank account statement.
  • If you are above 18 years of age and own an Aadhar card, you can apply for a personal loan on your salary.
  • You should have a good credit report and no outstanding loans to get a personal loan on your Aadhar card.

On the digital portal of the financial institution, you can get an idea of the personal loan interest rates. You can use the EMI calculator to get an idea of the monthly installments you need to pay. You can apply online for a personal loan on the digital portal without interacting with any loan agent. Your documents will be uploaded digitally for KYC verification and loan processing.

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In a nutshell

Your Aadhar card can help you get a personal loan in India and meet financial obligations. One should always choose an NBFC that allows you to apply for an online personal loan. Start applying for a personal loan online in 2022 with your Aadhar card!  

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