How to Secure an Online Personal Loan Using Aadhaar: Today A Person May Not Be Smart But His Phone Has Definitely Become Smart, So Now Sitting At Home You Can Take a 50,000 loan on aadhar card Only From Your Aadhaar.
Friends, If You Need Money Urgently, Then Read This Post Completely And I Can Say With The Claim That You Can Take A Personal Loan Sitting At Home In Just A Few Minutes.
Let’s Know How To Take Online Personal Loan Only With Aadhaar, If Your Cibil Is Fine Then Only Go Ahead, Here We Will Talk About Some Loan Applications That Give You a Loan With Aadhaar Sitting At Home.
- Download and Install a Loan Application on Your Phone To get started, download any of the recommended loan applications from the Play Store or App Store on your mobile device.
- Sign Up with Mobile Number or Email Use your mobile number or email to sign up for the loan application.
- Verify with OTP Enter the OTP received on your registered mobile number or email to verify your account.
- Provide Essential Personal and Professional Information Fill in necessary details such as personal and professional information as required during the signup process.
- Upload KYC Documents Submit your KYC documents through the application for verification purposes.
- Check Loan Eligibility Based on your credit history and income source, the loan application will determine your eligibility for a loan.
- Accept the Loan Agreement and Add Bank Account Information If eligible, review and accept the loan agreement. Provide your bank account details for loan disbursement.
- Instant Loan Approval and Crediting After approval, the loan amount will be credited directly to your bank account immediately.
- Repay On Time to Increase Loan Limits Ensure timely repayment to improve your creditworthiness and qualify for higher loan amounts in the future.
Also, read: Pradhan Mantri Awas Yojana
Understanding the Online Loan Process Using Aadhaar
The growing usage of the internet has led to several Non-Banking Financial Companies (NBFCs) offering online loan services. These loan institutions provide loans through mobile applications available for download on app stores. Initially, these apps offer smaller loan amounts based solely on your Aadhaar and PAN card information. However, as you repay these loans on time, you become eligible for larger loan amounts.
Safety of Taking a Loan from a Loan App
Using an NBFC-registered loan app is safe and can help improve your CIBIL score through timely repayments. When you install such apps, they request permission to access your phone data to ensure sufficient information is available for loan recovery.
Eligibility and Documents Required for Online Aadhaar Loans
To be eligible for an online loan using Aadhaar, you must be an Indian citizen aged 21 or older with a good CIBIL score. You’ll need an Aadhaar card, PAN card, and a selfie for verification. Bank statements may be optional.
Interest Rates and Processing Fee
The interest rates for online Aadhaar loans range from 18% to 36% due to their unsecured nature. Additionally, you may be charged a processing fee of up to 5% on the loan amount.
Loan Amounts and Repayment Period – 50,000 loan on aadhar card
Online loan applications generally offer loan amounts ranging from ₹1,000 to ₹5,00,000. The repayment period starts at 30 days for the first loan and increases with timely repayments, potentially extending up to 60 months depending on the loan amount.
Benefits and Disadvantages of Using Loan Apps
Using loan apps offers various benefits, such as easy access to loans with minimal documentation, no requirement for credit history, and convenient repayment options. However, it may come with drawbacks, including smaller initial loan amounts, access to personal data, and occasional technical delays.
Conclusion
Taking an online personal loan through Aadhaar is a convenient option, but it should be used judiciously. Ensure that you genuinely need the loan and maintain a good repayment track to unlock higher loan amounts in the future. Remember to subscribe to our blog for more informative content. Have a great day!