Adhar Card Loan : How to Apply, Eligibility, Documents

Instant Aadhar Card Loan

How to Get an Instant Loan Using Your Aadhar Card.

The Indian government introduced the Aadhar Card in 2010 to allow individuals to access a limited number of services in both the public and commercial sectors. The Aadhar number is a unique 12-digit number that the government issues to all Indian residents after collecting their iris scans and fingerprints.

An Aadhar card not only serves as evidence of citizenship, but also assists individuals in obtaining loans, opening bank accounts, purchasing SIM cards, obtaining a Permanent Account Number (PAN) card, applying for a passport, and filing their Income Tax Returns.

Aadhar Card Loan Objectives

The following are the primary goals of an Aadhar card:

  1. Every Indian citizen has a single identity.
  2. A single card may be used for address verification, ID verification, and age verification. Individuals will not be required to carry a variety of papers.
  3. Individuals can get a variety of government services without the assistance of intermediaries or brokers.
Aadhar Card Loan Apply Online
Aadhar Card Loan Apply Online

The Importance of Obtaining a Personal Loan Using an Aadhar Card

The Aadhar card, introduced in 2010, is provided to all residents based on demographic (name, residence address, date of birth, gender, and language) and biometric (iris scan, fingerprints) data. It is a need to apply for a PAN card, submit your ITRs, and get any government subsidy that uses the direct benefit transfer (DBT) system, such as LPG, Pradhan Mantri Vaya Vandana Yojana, and so on. However, there is a lot of uncertainty regarding using Aadhar to get a personal loan or whether something like a “Aadhar card loan” exists. Continue reading to learn more about it.

Personal Loan on Aadhar Card Defined

Many people believe that, like a credit card loan, an Aadhar loan implies that you can borrow money using your Aadhar card. However, it is currently not feasible to obtain a loan using only your Aadhar card or a UIDAI-issued identification card. As a result, terms like “Aadhar card loan,” “loan on Aadhar card,” or “personal loan on Aadhar card” might be deceptive. Although such a product does not yet exist, you can obtain a loan using your Aadhar card if you have supplied additional supporting papers as requested by your potential lender.

The Advantages of Obtaining a Personal Loan

Making Use of Your Aadhar Card

The following are some main benefits of applying for a personal loan using your Aadhar card:

  1. Because biometric data is connected to your Aadhar card, lenders may swiftly and easily verify your legitimacy and identity.
  2. The Aadhar card also serves as a legitimate identification and residence evidence, which can assist you in obtaining a loan with less paperwork. However, keep in mind that in order to obtain a personal loan, you must provide legitimate income proof(s) as well as other essential papers as requested by your prospective lender.
  3. It also acts as a legitimate KYC document and aids in the completion of KYC requirements (in person or online/ e-KYC), which aids in the prevention of fraud.

Having an Aadhar card might thus help enhance the odds of your personal loan being approved.

As a result, the Aadhar card facilitates and expedites the loan application, verification, and approval procedure.

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Apply Aadhar Card Loan Online

How to Apply for a Personal Loan Using Your Aadhar Card Online

Even while it is not required for individuals to produce their Aadhar card, doing so makes it considerably simpler to obtain a personal loan. If the borrower provides Aadhar data, the process for bank personnel to complete verification is simplified. There is also a paperless option, known as e-KYC, in which papers may be filed online.

In the case of e-KYC, the person is not required to provide any physical papers. There are some banks that provide fast loans if the borrower uploads a scanned copy of his or her Aadhar card.

To apply for a personal loan online, go to the Bank’s website, click on the “Personal Loan” option on the home page, and then proceed as follows:

The first step is to

Fill in your personal information, including your employment, monthly income, present city, mobile phone, and loan amount, and then click “Proceed.”

Step 2: To get the best personal loan offer for you, input your company name, job experience, PAN number, and current loan EMI amount (in case any).

Step 3: Various personal loan offers from various lenders that you are eligible for will be shown based on your possibilities of acceptance.

Choose the loan option that best meets your needs and fill out any extra information that may be necessary.

Step 4: Online, provide a scanned copy of your Aadhar card and any required papers.

Step 5: Following this, a representative will call you to confirm your information.

The loan money is paid to your bank account once all needed paperwork are received and confirmed and the loan is authorized.

Aadhar Card Loan Applying Banks

List of banks and non-banking financial companies (NBFCs) that accept the Aadhar Card as primary identification.

  • Personal Loan from HDFC
  • Personal Loan from SBI
  • Personal Loan from Indiabulls
  • ICICI Personal Loan
  • Personal Loan from PNB
  • Capital First Personal Loan

Aadhar Card’s Impact on Personal Loan

Individuals who want to use financial services must provide their Know Your Customer (KYC) paperwork. To combat money laundering, the government has made it essential for financial institutions and banks to gather client KYC information. Previously, a large amount of documents was necessary for KYC; however, KYC is now relatively simple to complete. Banks have also begun e-KYC, which digitizes the whole KYC procedure. Because Aadhar contains biometric information about individuals, verification is a straightforward and quick procedure.

When it comes to personal loans, both private and public sector banks apply stringent validation and verification procedures. Initially, several papers had to be presented by the applicant in order to obtain a loan, and the approval process was very lengthy. However, after the implementation of the Aadhar card, fewer papers are required, and the time necessary for loan approval has decreased.

Individuals use personal loans for a variety of reasons, the most common of which being an emergency. As a result, they will require the verification procedure to be completed quickly and the loan money to be sent into their bank account as soon as possible. The primary goal of an Aadhar card is to expedite the procedure. KYC verification has been computerized, making it much easier to obtain a personal loan.

Because the individual’s personal information is discovered in the Aadhar database, the time it takes to get the loan approved is reduced.  

How Can an Aadhar Card Assist You in Obtaining a Personal Loan?

While an Aadhar card is not required to apply for a personal loan, it can serve as a legitimate picture identification and address evidence when you do. Because Aadhar maintains people’ biometric data, it aids in making the verification process easier and faster. However, you may apply for a personal loan with additional picture identity/address verification papers such as a voter ID card, passport, driving license, and so on.

As previously stated, an Aadhar card is not the sole document required to get a personal loan. Other important papers such as your PAN Card, bank statements, profit and loss statement (if self-employed), income slips (if salaried), and so on must also be supplied when applying for a personal loan.

Aadhar Card Home Loan

Apply for a Home Loan Using Your Aadhar Card

In Aadhar Card Home Loan service, loan is provided to you to build your house, and if you are also thinking of building your own house, then you can also take Aadhar Card Home Loan, how this Aadhar Card Home Loan is given and how will you apply it, what are its terms and conditions, we will tell you the process below, please read the complete information.

Aadhar Card Home loan terms and condition

  1. The Aadhar Card
  2. To obtain a house loan, you must have an Aadhar card.
  3. To apply for an Aadhar card house loan, the candidate must be at least 18 years old.
  4. The person applying for an Aadhar card loan must be an Indian citizen.
  5. It is critical for the individual applying for an Aadhar Loan Online to have his address evidence, id proof, email id, and mobile number.
  6. The person applying for an Aadhar Loan Online Apply must have a PAN card and a bank account. • The person applying for an Aadhar Loan Online Apply must be able to repay the loan.

Documents Required

Aadhar Card Loan Important Documents / Apply Important Documents

  1. Aadhar card • identification card • ration card • bank passbook photocopy • bank three-month statement • passport-sized photo
  2. If an income tax return is filed, a photocopy of the ITR is required.
  3. It is vital for the individual applying for an Aadhar Loan Online to have his address evidence, id proof, email id, and mobile number.
  4. The person applying for an Aadhar Loan Online must have a PAN card and a bank account.
  5. The individual applying for an Aadhar Loan Online should be able to repay the loan.
Aadhar Card Loan Documents
Aadhar Card Loan Documents

Important Documents for Aadhar Card Loan Application

  1. Aadhar card, as well as an identity card
  2. A ration card
  3. Photocopy of a bank passbook
  4. Three-Month Bank Statement
  5. A passport-sized photograph.
  6. If an income tax return is filed, a photocopy of the ITR is required.

How To Apply Aadhar Card Loan

  1. To apply for an Aadhar card loan, first click on the link provided here. After clicking on the link, the Aadhar card house loan website will appear in front of you.
  2. After successfully visiting the website, you will need to fill up the application form, which you must complete step by step.
  3. Keep in mind that if you do not want to fill them out and instead want to contact the firm directly, the complete location of the company is provided below where you may contact their office.

Corporate Office

Mumbai

Aadhar Housing Finance Ltd.

201, Raheja Point -1, Nr. Shamrao Vitthal Bank,

Nehru Road, Vakola, Santacruz (E), Mumbai -400055

Tel: 022-3950 9900 Fax: 022-3950 9934

Registered Office

Bengaluru

2nd Floor, No. 3, JVT Towers,

8th A Main Road, Sampangi Rama Nagar,

Hudson Circle, Bengaluru,

Karnataka, India- 560027.

For customer complaints, query, suggestions please email your concerns/issues to customercare@aadharhousing.com or

Customer Care No.  : 1800 300 420 20 (Toll Free)

Fees & Charges Adhar Card Loan

Charges Type and FeesAmount in Rupees
Login Fee (Paid in conjunction with loan application.) It isn't refundable.)₹ 3500 + Applicable GST
Documentation FeesFrom ₹ 2000 to ₹ 5000 + Applicable GST
(charge varies on Loan Sanction Amount slab)
Charges for Legal, Valuation, and Technical ServicesFrom ₹ 3000 to ₹ 5800 + Applicable GST
(charge varies for each Loan Sanction Amount slab)
CERSAI Creation Fees₹ 100 + Applicable GST
Administrative Fees (Inclusive of Documentation, Legal Valuation, Technical & CERSAI Charges)Home Loan/Top up: ₹ 5100 or 1.5% + Applicable GST on Sanction Amount, whichever is higher
LAP/NIP/Project Loan: ₹ 5100 or 2% + Applicable GST on Sanction Amount, whichever is higher
Following Technical Verification (Only In Construction Cases)₹ 500 + Applicable GST
Bounced Cheque/Ecs/Direct Debit/ACH (Per Instrument/Transaction)₹ 500 + Applicable GST
Additional Interest on Delinquent Payments – (EMI/PRE-EMI)2% of Due Amount
Legal/Possession & Incidental Charges RecoveryAs per the actual + Applicable GST
Cheque/Ecs/Direct Debit/Ach Swap (Per Set)₹ 500 + Applicable GST
No Duplicate Fees₹ 500 + Applicable GST
Copy of Property Papers Certificate₹ 500 + Applicable GST
Prepayment/Part Payment For Home Loan/LAP at variable rate: NIL
For Home Loan/LAP at fixed rate: 2% of the loan outstanding + Applicable GST
(for amount prepaid through refinance from any Bank/HFC/NBFC or Financial Institution and not through own source and shall be applicable to all partial or full prepayments.)
For Project Loan: 2% of the Loan Outstanding + Applicable GST
Fees for switching ₹ 2000 + Applicable GST
₹ 500 + Applicable GST
Fees for switching Fixed to Variable: 1% + Applicable GST on Outstanding
Variable to Fixed: 1.5% + Applicable GST on OutstandingGST on Outstanding
Prepayment/Part Payment0.50% of the Principal Outstanding and Undisbursed Amount (if any) at the time of conversion

Note:- Before applying for an Aadhar card loan, please keep in mind that if any firm asks you for money in the name of providing you with an Aadhar card loan, you should not provide money to such a person since you may become a victim of the frauds. No banks or institutions asks for money to apply for Aadhar loan.

Aadhar Card Loan FAQ

Can I get a personal loan if I don’t have an Aadhar card?

Yes, you may get a personal loan without an Aadhar card as long as you provide the appropriate papers, such as your identification, residence, and income verification, to your potential lender.

However, because your biometric data is linked to your Aadhar card, presenting a copy of your Aadhar card while applying for a personal loan may make the verification process more easier and faster, as well as reduce the documentation needed.

Which banks and non-banking financial institutions recognise the Aadhar Card as proof of identity and income?

The UIDAI-issued identity card is accepted as a legitimate identity and income proof by all banks and NBFCs in the nation.

Is it necessary to provide collateral when applying for a personal loan using my Aadhar card?

No, A personal loan does not require any collateral or security.

Is it possible to acquire a personal loan using my Aadhar card?

Yes, you may apply for a personal loan with any bank or NBFC using your Aadhar Card.

Can I apply for a personal loan online using my Aadhar Card?

Yes, you may apply for a personal loan online using your Aadhar Card.

Is it possible to apply for a personal loan using an Aadhar Card without a PAN card?

Yes, you may apply for a personal loan using your Aadhar card without a PAN card. However, in such situations, you will be needed to produce additional papers such as your voter ID card, passport, driving license, pay stubs, and so on. The list of papers will be determined by the loan provider’s requirements.

How long does it take to apply for a personal loan using your Aadhar card?

Because the Aadhar card contains the applicant’s biometric data, the procedure is generally rapid. Biometrics provides a faster and easier verification procedure, resulting in a speedier application process.

How long does it take for the loan to be paid out?

You must meet the qualifying requirements for the loan application.

The verification procedure is not time-consuming.    If all of the necessary papers are provided and confirmed on schedule, the loan amount is generally released within 2 to 3 days.

Will I require a co-applicant for an Aadhar-based personal loan?

In most cases, you will not be needed to apply for a personal loan with a co-applicant.

From July 1, 2017, an 18% GST rate is applied to banking services and goods

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