Get Personal Loan On Aadhar Card – Receive Instant Money Directly In Your Bank Account

When it comes to asking a lender (banks or other financial institutions) for a personal loan, the loan seeker’s documents are of huge importance. And among these documents, it is needless to mention that proof of identity remains imperative – and here the role of Aadhar Card pitches in. So, if you want a personal loan on Aadhar Card, go through this piece of information in detail for a better understanding and insights into the matter.

How is an Aadhar Card used in applying for a Personal Loan?

As mandated by the government, every personal loan process always includes the KYC verification (Know Your Customer) of the loan applicant – and the Aadhar Card fastens this verification process.

If you look at the loan documentation process followed a while back, it was a much heavier procedure wherein the number of documents asked for submission was plenty. But in the past few years, the documentation process has paced up due to the Aadhar Card.

What makes an Aadhar Card a comprehensive document for applying for a personal loan is the inclusion of a person’s name, address, unique identity number, iris scan, fingerprints, photograph, etc. All this information proves the authenticity of the person’s identity. Besides applying for personal loans, the Aadhar Card acts as solid proof for purposes like buying SIM cards, applying for a passport, applying for a PAN card (Permanent Account Number), opening bank accounts, and various other purposes.

Get an Instant Personal Loan on Aadhar Card. Receive Rs.5 Lakhs in 30 Minutes.

How To Get Personal Loan On Aadhar Card – 100% Online Process & Instant Approval

If you are looking for a personal loan on Aadhar Card, the most preferred way of obtaining one is by visiting the personal loan application page of Nowofloan – India’s most trusted loan service providing company. With Nowofloan, your entire loan process will be conducted completely digitally without the need for any heavy paperwork.
As you have strong identity proof in the form of your Aadhar Card, you can easily follow the quick steps as directed and get an instant pre-approved personal loan offer. To start off, you can visit the official portal of Nowofloan and go ahead with your personal loan application process.

Once you arrive at the portal, all you would need to do is go through the following steps:

1. Quick Registration
2. Check Eligibility
3. Buy Premium Membership Card
4. Submit Documents
5. Bank Verification
6. Bank Sanction

Can You Apply For Personal Loan On Aadhar Card Without PAN Card?

The answer is yes. If you have the Aadhar Card and not the PAN Card, the lender will generally consider your personal loan application. But, the lender might ask for some other documents such as the passport, Voter ID, salary slips, driving licence, etc. The lender will give you a comprehensive list of required documents that you will be needed to submit to take your application considered.

Do You Need A Co-Applicant For A Personal Loan?

Generally, a co-applicant is brought in to strengthen the personal loan application. If the lender is not convinced enough with your documents and is not inclined towards taking a risk on your repayment capabilities, you can find a co-applicant who has enough creditworthiness to get your personal loan file approved.

In cases where the primary loan applicant’s credit score is not up to the mark, it is obvious for the lenders to show apprehension in proceeding with the loan file. Here, a person who has a stable income and a good credit score (above 750) can be made a co-applicant. Going this way will make the lender confident and positive about granting you a personal loan.

Also, if your documents and profile are not convincing enough, the lender might agree to approve your loan application but at a much higher interest rate and even the loan amount could be lesser than asked for. So, taking the help of a co-applicant is an effective way of ensuring a stronger personal loan application.

How Long Does It Take For The Verification Process Via Your Aadhar Card?

Usually, the verification process is short and quick. The reason behind this process being a fast one is the comprehensive information that is fetched through your Aadhar Card. As you might be aware, every Aadhar Card includes the biometric data of the person. So, due to this biometric, the verification process is completed in a short span of time.

Apply For Online Personal Loan Directly From Your Smartphone

With India’s number loan service provider – Nowofloan, you can get an instant personal loan straight from your smartphone. One of the best features of Nowofloan is that as a loan seeker, you will not be required to stress yourself by making numerous visits from one bank to another. As Nowofloan is partnered with multiple leading banks and NBFCs (Non-Banking Financial Companies), you will get instant pre-approved personal loan offers from several banks.

Also, if you go by the traditional or offline loan processes, you might be needed to submit your documents physically to different banks numerous times – but when you apply for a personal loan at Nowofloan, you will be required to go through the document submission phase with a simple and easy online process (the bank(s) may ask you for certain additional documents as well, depending upon your loan application).

Nowofloan is the one-of-its-kind loan service provider that has streamlined the entire loan application process through their Membership Card. If you want to apply for a personal loan, you just need to buy the Nowofloan Premium Membership Card and your loan application will be submitted to various partnered banks and financial institutions. The portal will instantly show you the loan offers from all the banks in which your eligibility matches their loan criteria.

Besides this, the Membership Card has other several benefits that can be availed of by you:

• Get Instant Pre-Approved Loan Offers From Multiple Banks
• Get 10 Years Free Expert Consultancy & On-Call Assistance
• 100% Online Loan Process For Hassle-Free Experience
• No Effect On Your CIBIL Score Even After Multiple Bank Verification
• Earn Up To 40% Payout Bonus Through Easy Referrals
• Get Your Personalized Portal

Personal Loan Eligibility Criteria – Salaried Individuals

For the loan seekers who are salaried, there are certain criteria that must be matched to apply for a personal loan:

• Minimum Age – 21 Years
• Minimum Salary – Rs.15,000/month
• 1 Year Job Stability

Personal Loan Eligibility Criteria – Self-Employed Individuals

If you are running a business and want to apply for a personal loan, the following are the general criteria that are to be matched:

• Minimum Age – 21 Years
• Income Tax Return of Minimum 1 Year
• 1 Year Business Stability

Do You Need To Provide Any Collateral Guarantee Against A Personal Loan?

Generally, no collateral guarantee is asked by the lender. Personal loans are usually unsecured credit that is approved based on the loan applicant’s profile and their documents. The loan applicant’s good CIBIL score can prove to be instrumental in loan approval. A decent credit history always makes a good impression on the lender and the chances of your loan approval would increase.

Receive Rs.5 Lakhs Personal Loan in Just 3 Clicks. Instant Pre-Approval

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