26 November 2021
With the advances in financial services, it has become easier and convenient to avail of easy personal loans by using an Aadhar card to meet your unexpected financial needs. Aadhar card plays an important role in identifying you as an Indian resident.
The Government of India issues an Aadhar card for Indian citizens and allots a unique identification number for your identification. When applying for a personal loan, Aadhar cards also have records of your demographic and biometric information, which makes it a very important document.
An Aadhar card is an all-purpose document that you can submit for age proof, address proof, and identity proof. If you are wondering if you are eligible to apply for an online personal loan using your Aadhar card, then you should know that many lending institutions approve personal loans on Aadhar cards and other minimal documentation. EarlySalary is one such platform that provides personal loans on Aadhar cards and few other documents.
Before the lender can proceed with your personal loan application, they will ask you for your KYC documents. However, you should know that your Aadhar card is a KYC document that can cover all the segments of your loan application, such as identity proof, age proof, address proof.
But, apart from the Aadhar card, the lender will ask for income proof to determine whether you can repay the loan amount. Here are few documents that you will require other than the Aadhar card.
In case you are self-employed, then you may have to show alternate sources of income. You can submit the bank statements, ITR, or form 16 for successful loan approval.
To prevent repayment of loan defaults, the lender provides eligibility criteria for the individuals before applying for a personal loan.
You can apply for personal loans online using your Aadhar card in a few simple steps.
Gone are the days when you would have to carry piles of documents to the bank for getting a personal loan. Now, with EarlySalary’s easy and convenient loan application process, you can apply for easy personal loans online by using your Aadhar card and other minimum documentation requirements.
Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:
Download the EarlySalary app here, and be a part of the #OneInAMillion experience.