A personal loan can be applied for in order to cover a variety of different needs. In the past, it used to take a long time for the process of approval and verification with a personal loan. Banks in both the private and public sectors demanded a lot of documents from the borrower, which made getting a personal loan quite difficult. However, with Aadhaar cards being introduced, fewer documents have been required from borrowers, making the process much easier. It has become much easier for bank employees to complete the verification process for an Aadhar Card Loan, making the whole process much simpler.
This way, not only is it more convenient for you as the applicant but also saves otherwise valuable time for the bank employees. Some banks even provide instant loans if you provide a scanned copy of your Aadhaar at submission, effectively saving more time.
Increasingly, people are opting to apply for a personal loan online. It is said that digitalization and Aadhaar cards have had a role to play in this transition. The truth is that you only need to provide your Aadhaar card as KYC proof and this single document will be enough for banks and NBFCs to validate your identity and other details such as address or even citizenship.
To apply for a personal loan, follow these steps:
Step 1: Check and compare personal loan offers online by visiting banks or loan aggregators.
Step 2: Fill in the loan amount requirements.
Step 3: Fill out the online application with your Aadhaar card and other required documents.
Step 4: After we verify your documents, your application will be processed.
Step 5: The sanctioned loan amount will then be automatically credited to your bank account.
Benefits of Applying for an Aadhaar Card Loan
There are a number of benefits to applying for an Aadhaar Card loan including how it will make it easier for you to manage your finances. When you apply for a Personal Loan with your Aadhaar Card, you can get these benefits:
- If you’re in the market for a loan or other financial service, make sure you hold an Aadhaar Card. The KYC documents required by loan applicants include your identity and citizenship, which you can validate with your Aadhaar card.
- A driver’s license proves a person’s citizenship, age, photo, address, and identity all at once.
- One of the many benefits of Aadhaar is its use in KYC (Know Your Customer) verification.
- Bajaj Markets is one of the few places that offer real-time approval based on e-KYC.
You can apply for a personal loan with your Aadhaar card on Bajaj Markets. Our process is quite straightforward, and once you are approved, the money will be deposited into your bank account. Personal loans provide a larger credit limit that you can pay off over a long duration. Personal loans help you cover anything from college tuition or wedding expenses to medical emergencies and home renovation.
