28 February, 2025 | 16:08 IST
Traditionally, a personal loan application used to be a lengthy process with submission of a host of documents. However, in today’s digital world, instant loans are being offered by lenders with minimal documentation. If you have your documents ready, you can apply for a loan and get approval even within minutes. Instant loans could be helpful to meet immediate cash needs or in cases of emergencies.
You can complete the documentation process for a personal loan by uploading the digital copies. Both Aadhaar and PAN are the most important documents required to avail a personal loan. The documentation process may differ from lender to lender.
Can you get an instant loan on the Aadhaar card? Yes, you can get an instant loan on your Aadhaar, but there are a few factors that should be taken into account. Let’s take a look at all the key details.
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An instant personal loan is a type of personal loan that is approved and disbursed quickly and easily. It is among one of the personal loan types, with the distinguishable feature being that instant loans are approved within minutes. This is due to a digital KYC (Know Your Customer) for personal loan, which requires minimal documentation making the process 100% online and hassle-free.
Through the Moneycontrol app or website, you can apply for a loan of up to Rs 50 lakhs, with interest rates starting as low as 10.5% per annum. The process is completely paperless, allowing you to get an instant online loan with ease. You can apply for a personal loan from seven lenders through the Moneycontrol app.
Getting an instant personal loan on an Aadhaar card is possible in today’s digital world. This comes as a saviour in situations where you do not have other identity or address documents available readily. However, some lenders may still need additional documents like PAN and income proof.
Moneycontrol has partnered with seven lenders to provide access to 100% digital instant loans of up to Rs 50 lakhs. You can get the loan in just three steps — enter details, complete the KYC process and set up EMI tenure. The interest rates start at as low as 10.5% per annum, depending on your employment status.
The introduction of the Aadhaar Card has simplified the process of applying for loans online. Your Aadhaar Card serves as the primary KYC document for proof of identity and address proof. The documentation process, known as e-KYC, can be completed digitally using the borrower's Aadhaar details. Since no physical documents are required for e-KYC, it gives a time-saving and hassle-free option to borrowers to get quick approval for loans.
In order to be eligible for instant Aadhaar card loan, you need to fulfil the following criteria.
In today’s fast-paced world, getting a loan based on only your Aadhaar card is fairly easy. You also need to have a good relationship with your bank, which will increase the chances of your loan approval with an Aadhaar card even more easily.
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