What is an Aadhar Card Loan?
An Aadhar Card loan is a Personal Loan with a simple process and minimal documentation. Here, the applicants can provide their Aadhar Card as a KYC document to avail of the instant loan. We recommend linking your mobile number to your Aadhar card and PAN card to make the process faster and smoother.
Key Features of Personal Loan on Aadhar Card
Getting an Aadhar Card Loan from Piramal Finance has several benefits -
Zero Foreclosure Charges
Zero pre-payment and foreclosure charges for Personal Loan on Aadhar Card.
No Co-signers/Guarantors:
You do not need a Co-Signer or Guarantor to apply for an Aadhar Card Loan from Piramal Finance.
Digital Documentation
You can avail an instant Aadhar loan by submitting the digital documents online. The process is quick and hassle-free.
Quick Disbursals
Quick sanctions and smooth disbursal processes: You repay your debts or do major purchases, and we will handle all the formalities.
EMI That Fits Your Pocket
There are multiple options for framing an Aadhar Card Loan structure to suit your requirements. We also empower a lot of flexibility in loan tenure, prepayment, and foreclosure.
100% Secure Process
Your privacy and security are our top priorities. Our 100% secure process protects your personal and financial information.
Fees and Charges for a Loan on Aadhar Card
Get an instant loan on Aadhar Card at competitive interest rates. Below is a table of our fees and charges.
Fees and Charges for a Loan on Aadhar Card
Get an instant loan on Aadhar Card at competitive interest rates. Below is a table of our fees and charges.
-
Labels:
- Features and Fees
- Details
-
Row 1:
- Personal Loan Interest Rates
- {plintrestrate}* p.a. onwards
-
Row 2:
- Loan Amount
- ₹ 25,000 to ₹ 5,00,000
-
Row 3:
- Processing Fees
- Up to 5% plus applicable taxes
-
Row 4:
- Loan Tenure
- 12 - 60 months
-
Row 5:
- Prepayment Charges
- ₹ 0
-
Row 6:
- Foreclosure Charges
- ₹ 0
-
Row 7:
- Stamp Duty
- At actuals (as per state)
-
Row 8:
- Cheque Bounce Charges
- ₹ 500 plus applicable taxes
-
Row 9:
- EMI Bounce Charges
- ₹ 500 plus applicable taxes
-
Row 10:
- EMI Pickup/Collection Charges
- ₹ 250 per visit plus applicable taxes
-
Row 11:
- Cash Collection Charges
- 1% of collection amount of ₹ 50,000 and above in cash + taxes
-
Row 12:
- Change of Loan Repayment Mode
- ₹ 500 plus applicable taxes
-
Row 13:
- Loan Cancellation after Disbursement
- Interest accrued and due plus applicable taxes
-
Row 14:
- Loan Repayment Schedule (applicable for physical copies only)
- ₹ 500 plus applicable taxes
-
Row 15:
- Change of Loan Repayment Mode
- ₹ 1,000 plus applicable taxes
Documents Required for Availing a Loan on Aadhar Card
Need a Loan on Aadhar Card? Here are some documents you need to submit for the loan application process.
Documents Required for Availing a Loan on Aadhar Card
Need a Loan on Aadhar Card? Here are some documents you need to submit for the loan application process.
-
Labels:
- Document Type
- For Self-Employed Individuals
- For Salaried Individuals
-
Row 1:
- ID Proof
- Aadhaar card, driving license, passport, pan card, voter id
- Aadhaar card, driving license, passport, pan card, voter id
-
Row 2:
- Residence Address Proof
- Aadhar card, voter id, utility bills, driving license
- Aadhar card, voter id, utility bills, driving license
-
Row 3:
- Office Address Proof
- GST registration certificate
- Not applicable
-
Row 4:
- Income Proof
- P/L account and balance sheet for the previous three years, ITRs for the last three years, bank account statement of business account
- Bank account statement of salary account, salary slip of the last three months, form 16
How to get an Aadhar Card Loan Online?
To avail an instant personal loan on Aadhar card, you need to follow a few easy steps –
- Step 1: Apply for an Aadhar Card Loan Online-Initiate the process by applying for a loan on Aadhar Card. You need to submit the digital documents where you can use your Aadhar Card for KYC verification. It only takes a few minutes to complete the process.
- Step 2: Set-Up EMI Cycle-Choose how long you want to pay and set up the monthly payment cycle that works best for you.
- Step 3: Get the Loan Amount-Piramal Finance will deposit the loan amount directly into your bank account after you complete the process of loan on Aadhar Card.
Factors Responsible for Aadhar Card Loan Interest Rate
The interest rate for a quick personal loan on Aadhar Card typically begins at 12.99% per year. Additionally, the maximum repayment period is five years. The final Aadhar loan interest rate you get depends on factors like your monthly income, employment type, work experience, and age.
-
Age:
- To apply for a personal loan on an Aadhar Card, you must be between 21 to 58 years of age. Banks or financial institutions often deem younger applicants as more creditworthy to repay the loan and offer them lower interest rates on Aadhar Card Loan. Older adults aged 50 to 60 may receive a higher interest rate. This is because of their increased likelihood of being unable to repay the borrowed funds.
-
Employment Status:
-
Applicants of a Aadhar Card loan working in public sector and private sector companies or being self-employed with a minimum of one year of business activity are considered eligible for a personal loan on Aadhar Card. Individuals with higher income certainty and job stability are given more priority and offered lower interest rates than others.
-
- Credit Score:
- Your credit score helps decide your interest rate. A higher credit score means you're more trustworthy for credit so you might get a lower interest rate on Aadhar Card Loan. However, Piramal Finance offers loans with competitive interest rates even if you have low credit scores.
Different Types of Personal Loans
Home Improvement Loan
You can use the funds from a personal loan to complete renovations in your home. Moreover, you can also use the funds to expand your home.
Wedding Loan
Indian weddings can be expensive, but the funds from a personal loan will help you deal with the expenses
Travel Loan
If you are willing to travel to an exotic location, applying for a personal loan is the way to go.
Car Loan
You can buy your dream car with a flexible car loan, offering freedom of choice and fixed monthly payments.
Emergency Loan
Health insurance may not cover family medical emergencies. Emergency personal loans can help with medical crises.
Festival Loan
The festive season often comes with various expenses, which online insta loans can help cover.
Loan for Women
Empower yourself with a specially designed quick personal loan for women. It provides financial support for various needs with competitive interest rates and flexible repayment options.
Loan for Salaried Employees
Unlock financial flexibility with a personal loan designed exclusively for salaried employees. Get the loan quickly and conveniently.
Education Loan
You can borrow finance online to pay for housing and food while studying at a university in another city or country.
Personal Loan for Bike
Don't wait any longer to own your dream bike. Apply for a personal loan for a two-wheeler and get instant approval.
