Accessing an instant personal loan on your Aadhaar card begins with the right financial institution selection. Every major bank, NBFC and mobile lending app offers Aadhaar-based loans. Choose one whose application is simple, interest is less, and terms are clear. Choose Kotak Mahindra Bank, MoneyView, Piramal Finance, and CASHe. You can apply through their website or mobile app with minimal documents and fast processing.
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You should qualify for the lender's minimum eligibility before you can go to them. You should ideally be between 21 and 60 years old and must have a regular monthly income of at least ₹15,000. Your credit score must ideally be more than 650. You can take the loan regardless of whether you are employed on a salary or self-employed. All this data helps in evaluating your repayment capacity and making a choice on how much loan you can borrow and at what rate of interest.
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Just a few documents need to be carried with you: Aadhaar card as proof of address and identity, PAN card as proof of finance, salary slip of 3 months or income tax return as per your current employment status. You may even be asked to upload the last 3 to 6 months' bank statements. Make sure your Aadhaar has been linked to your mobile number so that online OTP-based e-KYC can be performed at the spot.
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Start by visiting the lender's website or app and filling out a fast application using your information and income. You have to upload copies of Aadhaar, PAN, and bank statements by scanning them. Step two is e-KYK through Aadhaar, which is done by a loader using your phone number linked to Aadhaar. Upon successful verification, the lender decides your eligibility and shows you the loan amount and tenure.
Your sanctioned loan amount is credited to your bank account in minutes or hours, depending on the lender. Select your desired EMI choice—repayment period typically between 3 months to 5 years. Your EMI is automatically deducted from your bank account through NACH mandate or auto-debit. Regular repayment helps improve your credit score and avail larger loans later.
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It is easy to get an Aadhaar-based instant loan, especially in case of urgency. But lend responsibly, and go through each term—interest rate, charge, and repayment period—before signing. Missed EMIs will tarnish your credit history and attract penalties. Used wisely, the service can be a trouble-free method to repay short-term finance obligations without filling out long forms or waiting for sanction.
