Aadhar card loan

Snneha Lukka september 17, 2019

Getting a loan on the basis of your Aadhar card has now become easy as the 12 digit unique identity number makes it easy for financial institutions to process loan applications quickly, thereby ensuring quick disbursals. Read on to know all about getting an Aadhar card loan in India.

As we know, Aadhar Card is a 12-digit unique identification number issued by Unique Identification Authority of India to provide a unique identity to every citizen of India. The card serves the purpose of being an identity as well as address proof that is valid for lifetime. Biometric (iris-scan, fingerprints, photograph) as well as demographic data of an individual is recorded to help him establish a unique identity. Having an Aadhar card makes it easy for loan seekers to get a loan as the card has speeded the loan application process.

Impact of Aadhar card on personal loan

In the past, banks and financial institutions required you to submit various documents to get your personal loan application approved. However, since now Aadhar card contains biometric data of an individual, getting a loan solely on the basis of Aadhar card has now become possible; it has also made verification process simple and fast. Personal loan seekers can now get an instant personal loan just by submitting their basic KYC documents. The Government of India has made it mandatory for money lender’s in India to collect KYC data of the applicants to abolish the practice of money laundering.

With digitization, banks have started the e-KYC process that helps them give loan approvals on a real-time basis. Getting an Aadhar card loan is hassle-free as applicants don’t have to visit the lender’s office to avail the loan and can instead make an application online and upload Aadhar card along with other documents.

How to use Aadhar Card to apply for personal loan online?

Applying for a personal loan with an Aadhar card is not mandatory, however, providing the card as an address or identity document helps lender’s process your loan application faster. Banks, NBFCs as well as online lenders provide instant loans on the basis of Aadhar card through the e-KYC process.

With Upwards, you can avail Aadhar card loan up to Rs. 2 lakhs without any collateral. You can easily apply for an Aadhar card based personal loan through the Upwards app or website. You will have to submit your personal and professional details and can also do the e-KYC process online. On completing the loan application, you will get an instant update on your loan application. On successful approval, you can get disbursal within 24-48 hrs.

Other documents required for Aadhar Card loan

If you are a salaried professional, you can avail an Aadhar card personal loan by providing the following documents:  Aadhar card  PAN card  Address proof such as driving license, passport, voter ID or utility bill  Salary slip and bank statement  Photograph  Other documents if required


It is important to know that an aadhar card loan is simply not provided on the basis of your Aadhar card. Lenders also check your credit score, income, job type and other criteria when processing your loan application. To get a personal loan, it is important that you have a minimum monthly salary of Rs. 15000 and are employed with a government, public or private company. The main aim of an Aadhar card is to make the verification process faster that ensures you can avail the money instantly.

Snneha Lukka

september 17, 2019

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