How to get an Instant Loan in 5 Easy Steps with an Aadhaar card?
Last updated: Dec 03, 2021, 03:56 AM ISTAadhar card is a mandatory identity proof document for every citizen in India. Whether it is travel, business, education, or any other spot where personal verification is necessary, an Aadhar card solely does the needful. Aadhar card has the biometric data of the user, making the verification process quicker. It is important that your Aadhaar details are correct and remain updated always.
Since the time instant personal loan apps have been accepted widely, the use of Aadhar cards has simplified the task for many borrowers in India. The Aadhar card number verified with your mobile number enables KYC verification in seconds. This simplifies instant loan applications with paperless documentation and takes less time in loan approval.
The loan amount is decided by the lender based on your credit score. Lenders may offer a loan ranging from 50,000 to 1,50,000 or more, depending on 100% authentic submission of documents.
In the absence of an Aadhar card, the loan documentation procedure was quite lengthy with the submission of physical documents. This made the loan verification process time-consuming. But today the scenario is much better for borrowers in India where they can simply make use of Aadhar cards to avail of instant loans. With the paperless documentation technique, Aadhar card soft copy or Aadhar number is required to be uploaded on the instant loan app or credit portal for paperless document verification.
So here are 5 easy steps to get an instant loan with Aadhar Card
- Shortlist and download an instant loan app on your phone via Google Play Store
- Register with your mobile number or email id
- Set your EMI and tenure using the EMI calculator
- Verify identity with Aadhar card number
- Get approval in seconds with real-time KYC verification
Further, disbursal is processed directly in the borrower’s bank account. This is the strength of the Aadhar card that enables quick loans in minutes. Lenders verify the borrower’s Aadhar card details with UIDAI Aadhar biometrics. In case, there is duplicity or the information on Aadhar is incorrect, then the borrower is subject to a penalty along with the loan rejection.
An authentic Aadhar card increases the borrower’s credibility and increases the chances of loan approval. It is a simple document that every Indian should maintain for various authentications online or offline. Especially, when it comes to instant personal loans, an Aadhar card is a basic document to verify a borrower’s identity. Even though your credit score is good, an Aadhar card becomes essential when a loan application is initiated.
SimplyCash instant loan app powered by Hero FinCorp is one such personal loan app that requires an Aadhar card number linked with the borrower’s mobile number. SimplyCash is a user-friendly instant loan app that follows paperless documentation and gives relief to the borrower by instant loan approval.
Instant loan approval with Aadhar has simplified many lives with timely financial help in just a few clicks.