Finance

Importance of Aadhar Card to Get Loan

Did you know that you can get a personal loan these days with the help of your Aadhar Card? The process to get an Aadhar Card loan is very simple and straightforward and you can get the loan approved in as less as 10 minutes. This is the main reason why more and more people are opting for the Aadhar Card loans these days.

Visit https://navi.com/blog/how_to_apply_for_personal_loan_using_aadhar_card/  to know more about this revolutionary loan that has been helping many of late. 

Understanding the Aadhar Card loan

Let us begin by understanding what an Aadhar Card is all about. It is nothing but a personal loan which is mainly procured by submitting the borrower’s Aadhar number. Doing so reduces the lengthy documentation process. It helps to save the lender’s and the borrower’s time and money and so makes the process convenient and hassle-free for all the parties involved. Once you get the loan, use it and then, you can select a suitable EMI scheme and repay your personal loan in a comfortable and smooth manner. 

Importance of Aadhar Card to get the loan

So how exactly does the Aadhar Card help in getting the loan? Here are some ways in which that happens: 

  • e-KYC –
    Every bank or NBFC carries out a KYC check before processing a loan. The Aadhar Card loans make use of your Aadhar number to conduct a quick and instant digital KYC that helps to reduce paperwork and also cuts out a lot of the usual time involved in the process.
  • Identity and address proof –
    The Aadhar Card also works as a one-stop ID and address proof. As a result, you do not have to submit separate documents such as your passport or ration card as your address and ID proof. The Aadhar Card will take care of it.
  • Less documentation –
    Documentation is a very long and tedious process that is associated with most loans. It is not just difficult and time-consuming to arrange for the papers, it is also cumbersome to get them signed, attested and so on. This is a very undesirable aspect associated with loans. However, this entire process is eliminated with Aadhar Card loans. You don’t need to submit so many papers and signatures are absolutely not needed, making it a total breeze!
  • Quickens process –
    With all these facilities, you end up with an approved loan in just a few minutes. This is one of the most important benefits of an Aadhar Card to get a personal loan.

These are the points that prove that an Aadhar Card is one of the most important documents you need when you apply for instant digital personal loans. 

In conclusion

Gone are the days when you had to make several trips to your lender’s office with file loads of documents just to get your personal loan approved. Then, you had to wait for many days to actually receive the loan amount in your bank account. Things have really changed these days and now, you can make the application instantly with the help of your Aadhar Card. it hardly takes a few minutes and if approved, you receive the loan amount in a few hours. You can download the app of your preferred fintech company, make an online application, enter your Aadhar Card number and get the approval instantly. Make good use of these digital advancements and get an Aadhar Card personal loan today.

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