The Aadhar card is one of the most important documents for Indians. It helps them to avail a number of benefits offered under different government schemes easily. Aadhar card also serves as identification proof and is preferred by almost all private institutions to verify their customers’ identity. But do you know that you can also avail a loan using your Aadhar card? Yes, it is true. Now you can easily avail Rs 10000 loan on Aadhar card.
Apart from being an important identification document for the residents of India, Aadhar card can also be used to apply for instant loans. Lenders prefer valid Aadhar cards of the loan applicants in order to approve the loan as quickly as possible. Although not mandatory, Aadhar card helps lenders to complete the loan applicant’s KYC verification easily. In this article, we will learn the ways and benefits of availing Rs 10000 loan on Aadhar card in detail.
An Aadhar card can help you avail a small cash loan easily
Guide to Avail Rs 10000 Loan on Aadhar Card
Here are a few simple things that you can follow to apply for a Rs 10000 loan on Aadhar card easily.
Step 1: Choose the lender from where you wish to avail Rs 10000 loan on Aadhar card. There are a number of online lenders available that allow you to apply for loans easily through their website or app.
Step 2: Look for the personal loan application section where you can start the loan application process.
Step 3: You may require to enter a few basic details to check your loan eligibility. Once your eligibility is confirmed, you can then proceed further to apply for the loan.
Step 4: Click on the ‘Apply Now’ button which will take you to the loan application page.
Step 5: Enter all the details asked on the loan application page. You have to enter your personal details such as your name, your parent’s name, occupation details, annual income, PAN and Aadhar number, etc. You may also require to upload a few documents such as your identification and income proof, KYC documents, etc.
Step 6: In this step, you have to complete your KYC verification. Many lenders offer an e-KYC feature to their customers. Through e-KYC, you can use your Aadhar card and complete the verification within a minute. Enter your Aadhaar card number and submit the OTP received on the mobile number registered with your Aadhar card. Your KYC verification will be done after the OTP is verified successfully.
Step 7: Once the KYC verification process is completed, you will have to choose a suitable loan tenure based on the approved loan offer. Check the offered loan amount and the interest rate and enter the loan repayment tenure as per your convenience.
Step 8: Confirm all the details and make the final submission. The lender will verify all the submitted details and documents and approve your loan. The loan amount will be disbursed to your bank account once the loan gets approved.
You can easily apply for a Rs 10000 loan on Aadhar card through Navi. Navi offers you a very convenient way of applying for a Rs 10000 loan on Aadhar card. You just need to register yourself and fill in a few details. Once the loan is approved, the amount gets disbursed directly to your bank account instantly. Now that we know the process, let us learn the benefits of applying for a loan on Aadhar card.
Benefits of Rs 10000 Loan on Aadhar Card
There are several benefits of applying for a loan using an Aadhar card.
Easy and Fast Approval
Aadhar card helps lenders to verify the loan applicant easily. Using your Aadhar card, you can complete the KYC process easily and quickly. Being a government provided identity proof document, Aadhar card is preferred by most lenders these days. Moreover, if you have your mobile number linked with an Aadhar card, you can also complete the KYC online, thanks to the e-KYC feature offered by a number of lenders. You just need to enter your Aadhar number and submit the OTP received on the registered mobile number. Once the KYC is completed and the details are verified, the loan gets approved within no time.
Helps in Availing Funds in Case of an Emergency
Since an Aadhar card helps you to complete the KYC verification process quickly, you can get the loan amount without any delay. This comes in handy when you require cash to meet some financial emergencies and you do not have the time to go to a bank’s branch, fill in the paper application form, submit hard copies of your documents, and still wait for a few days to get the loan approved. You can apply for a Rs 10000 loan on Aadhar card online right at your fingertips.
Aadhar card helps you to minimize the documentation requirements while applying for a loan
Since an Aadhar card is enough to complete the KYC verification, you do not need to submit your PAN for the same. Furthermore, the Aadhar card also contains the address and date of birth and hence, can be used as address and date of birth proof. Therefore, you can use an Aadhar card and eliminate the hassle of furnishing a number of documents while applying for a loan.
Things to Keep in Mind While Applying for a Loan on Aadhar Card
Here are a couple of things that you should ensure while applying for a loan on Aadhar card:
- Make sure that the Aadhar card is valid and updated. Update your recent photo, mobile number, address, and date of birth on your Aadhar card. This will help you to enjoy the benefits of e-KYC verification and instant loan approval.
- Know your eligibility before applying for a Rs 10000 loan on Aadhar card. A Rs 10000 loan is approved easily but you need to be prepared while applying for higher loan amounts. Check if your income and credit score are good enough to get you the desired loan amount or not. Avoid applying for multiple loans if you do not meet the eligibility criteria as this can hamper your credit score.
So as we learned that the Aadhar card can be used to avail a loan instantly, you should always keep a valid Aadhar card of yours while applying for any such credit. A valid and updated Aadhar card helps in easy loan application and allows you to get funds easily during the time of emergencies.