How to get ₹10000 Loan on Aadhar Card 2024

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₹10000 Loan on Aadhar Card: Aadhar is one of the most important documents that the government of India issues to Every Citizen. It serves not only as an identification tool But is also useful for accessing various services Including loans.

When Getting a loan from a financial institution in India, the Aadhar Card plays an important role in simplifying the loan approval process. Our Aadhar is Directly Linked with our PAN or Permanent Account Number and Also our Bank Account.

When We apply for a Loan using the Aadhar Number, It becomes easier for Financial Institutions to verify our credit History and CIBL Score. This way the Process of Loan Approval becomes simple and loan disbursement becomes faster.

In this comprehensive guide, we have shared Detailed information on how to use your Aadhar card to Get a ₹10,000 loan Without visiting any bank.

Application Process ₹10,000 Loan On Aadhaar Card?

To apply for a ₹10,000 loan with your Aadhaar card, find a reliable online lending platform or visit a nearby bank. Complete their application form, providing details like your name, Aadhaar number, contact information, and income details.

Upload necessary documents such as an Aadhaar card, PAN card, and bank statements. The lender will verify your information and eligibility. Once approved, the loan amount will be disbursed directly to your linked bank account. However, this process can take 2-5 Days Depending on Your CIBIL Score and Loan Repayment history.

Before You Apply for the ₹10,000 Loan On an Aadhaar Card, make sure You check the eligibility criteria of that Partidulcar Bank or Lending Platform. For Most of the Lending platforms, the criteria are Almost the Same, however, it is suggested to check the exact criteria for easy Approval of a Loan.

Top 10 Online Platforms to Get Loan on Aadhar Card 

App NameInterest rateApp Rating
Money Tap13 – 36% p.a4.1 Star
SBI Yono13.05%-13.55% p.a3.8 Star
Kredit Bee24% p.a4.5 Star
Dhani14% p.a3.6 Star
Bajaj Finserv10.49%4.5 Star

Features of ₹10,000 loan on an Aadhar card

A ₹10,000 loan against an Aadhaar card typically comes with several features. Understanding these features helps you make an informed decision. You can compare different lenders, interest rates, repayment terms, and fees to choose the most suitable Lender.

Fast Approval: These loans often have quick approval processes due to minimal documentation requirements, leveraging Aadhaar for identity verification. Aadhaar serves as a comprehensive identity verification tool, speeding up the verification process.

Minimal Documentation: The Only Two documents you need to get the 10000 Loan are Your Aadhar and PAN. Aadhaar, a government-issued biometric ID, streamlines the verification process by providing accurate identification details. Alongside Aadhar, the PAN Number will be used by Lender You for financial verification, bank statements, and sometimes address proof.

Interest Rates: Due to the smaller loan amount and shorter repayment period, interest rates less compared to larger loans. You can get these loans for as Low as 9% Per Annum. However, the Loan Interest rate also Depends upon Lender to Lender. Some companies like State Bank of India May charge You 9% and other Private lenders like BharatPe Charge You 12% Per Annum.

Online Accessibility: Since the digital revolution in India, most financial Institution has Started Offering loans online. Customers Just have to upload their Aadhar, PAN, and bank Statement Details to get their Loan Approved without visiting any Bank Physically. These loans are accessible through various financial institutions or online lending platforms, simplifying the borrowing process.

Credit Impact: Timely repayment of this smaller loan can positively influence your credit score. Consistent repayment behavior showcases creditworthiness, potentially enhancing your eligibility for larger loans in the future.

Eligibility Criteria for an Aadhar Loan

Before You Apply for a Loan of Rs 10,000 using aadhar, You have to Provide certain Details to the Lender so that they can verify Your eligibility. The Eligibility criteria for a ₹10,000 loan against an Aadhaar card may vary among lenders but commonly include are commonly Mentioned Below.

  1. Age: Typically, Borrower’s age should be between 18 to 65 years old.
  2. Residency: The Borrower should have Indian citizenship or residency status.
  3. Income: Some lenders may require a minimum income level, often around ₹15,000 per month.
  4. Credit Score: While not always a strict requirement for smaller loans, a good credit score enhances your chances and may impact the interest rate offered.
  5. Employment/Business Stability: Stable employment or a consistent source of income (salaried or self-employed) for a specified duration.

₹10000 Aadhar Loan Interest Rate & Processing Fees

The interest rates for a ₹10,000 loan against an Aadhaar card can vary based on multiple factors. However, It general the Interest rate will be somewhere between 8% to 12% per Annum. It’s crucial to check with specific lenders to get clear information about their interest rates.

About the processing fees, Companies Usually Charge 1 or 2 percent of Loan Amounts as Processing Fees. Sometimes, lenders may not charge the processing fees as part of their promotional offers. It’s beneficial to inquire about such offers while applying for the loan.

Documents required to Get the Loan on Aadhar

To apply for a loan against your Aadhaar card, you typically need to have the following Documents –

  1. Aadhaar Card: Your Aadhaar card serves as the primary identification document.
  2. PAN Card: The Permanent Account Number (PAN) card is often required for financial verification and income-related documentation.
  3. Address Proof: Sometimes, additional address proof such as a utility bill, rental agreement, or driving license might be requested.
  4. Bank Statements: Recent bank statements showcasing your financial transactions, income, and account stability.
  5. Income Proof: Depending on the lender, you might need income proof such as salary slips (if salaried) or income tax returns (for self-employed individuals).

Calculate Your EMI for 10000 ₹10,000 Loan On Aadhaar card

EMI Calculator

EMI Calculator for Aadhaar Loan

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In Conclusion

Getting a ₹10,000 loan with your Aadhaar card is simple and Easy Procedure. These loans act as a bridge during financial emergencies, ensuring you can manage unexpected expenses without disrupting your finances. With shorter tenures and smaller amounts, these loans are often easier to repay without creating a prolonged financial burden.

We hope this article answers all Your queries related to a ₹10000 Loan on an Aadhar Card. If You have any other queries related to loans, Please Feel Free to share them with us in the comments Section Below.

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