Aadhaar Card Loan 50000

Last updated: May 26, 2022, 05:10 AM IST

A personal loan of Rs.50,000 is considered to be a small cash loan. Like any other loan, a personal loan of 50,000 requires basic documentation like an Aadhar card and PAN card for verification. With real-time verification of KYC documents, borrowers are eligible for an Aadhar card personal loan of 50,000. Aadhar registered to the mobile number enables ease of verification between the lender and borrower, facilitating the loan approval process.
 
Submitting a loan application is no more a lengthy and time-consuming process, all thanks to the acceptance of user-friendly loan apps and websites. SimplyCash instant loan app powered by Hero FinCorp is one such personal loan app that requires an Aadhar card number linked with the applicant’s mobile number. SimplyCash is a user-friendly instant loan app that follows paperless documentation and gives relief to borrowers by instant loan sanctions between Rs 50,000 to 1.5 lakh. This can be used to cover up immediate cash needs and clear debts.
 

Steps to use Aadhar card to avail of 50,000 personal loans

 

1. Install an instant loan app on your phone or visit the loan provider’s website
2. Register with your mobile number and email id
3. Enter a mobile number that is linked to your Aadhar card for ID and address verification
4. Enter the 12-digit Aadhar card Number as KYC proof. Also, enter PAN card details
5. Some websites may require a scanned copy of the Aadhar card with other income-related documents
6. After verification of the submitted documents, the sanctioned loan amount will be credited directly into your bank account

Earlier, the scenario was time-consuming where borrowers carried loads of documents, waited in the queue, and further anticipated loan approval for a long time. With the launch of the Aadhar card, many people find it easy to apply for loans online. The process has become hassle-free as one document serves as proof of identity, address, age, and citizenship.

Students applying for education loans to study abroad should have their Aadhar cards handy. It confirms your citizenship in a foreign land, speeds up the application process, and increases the credibility of the borrower.

So, whether it is a personal loan of only Rs 50,000 or more, Aadhar card forms the basis of loan approval. In case, you have misplaced your Aadhar card, wait for the new one to arrive and avoid applying for a personal loan in the absence of Aadhar card.

Individuals with a minimum monthly income of INR 15,000 can also apply for a personal loan on SimplyCash using an Aadhar card.
The in-built loan EMI calculator allows borrowers seeking 50,000 loans on Aadhar card to set a suitable EMI that is not a burden to repay every month. Factors like loan amount, interest rate and tenure are the basic factors that can be flexibly moved in the calculator to derive a desirable EMI.

There are several instant personal loan apps available on Google Play Store. Compare all features/benefits/interest rate etc. and initiate the loan application of Rs.50,000 using Aadhar card.