Key Features of Personal Loan on Aadhar Card
Getting an Aadhar Card Loan from Piramal Finance has several benefits -
Zero Foreclosure Charges
No Co-signers/Guarantors:
Digital Documentation
Quick Disbursals
EMI That Fits Your Pocket
100% Secure Process
Factors Responsible for Aadhar Card Loan Interest Rate
The interest rate for a quick personal loan on Aadhar Card typically begins at 12.99% per year. Additionally, the maximum repayment period is five years. The final Aadhar loan interest rate you get depends on factors like your monthly income, employment type, work experience, and age.
Age
To apply for a personal loan on an Aadhar Card, you must be between 21 to 58 years of age. Banks or financial institutions often deem younger applicants as more creditworthy to repay the loan and offer them lower interest rates on Aadhar Card Loan. Older adults aged 50 to 60 may receive a higher interest rate. This is because of their increased likelihood of being unable to repay the borrowed funds.
Employment Status
Applicants of a Aadhar Card loan working in public sector and private sector companies or being self-employed with a minimum of one year of business activity are considered eligible for a personal loan on Aadhar Card. Individuals with higher income certainty and job stability are given more priority and offered lower interest rates than others.
Credit Score
Your credit score helps decide your interest rate. A higher credit score means you're more trustworthy for credit so you might get a lower interest rate on Aadhar Card Loan. However, Piramal Finance offers loans with competitive interest rates even if you have low credit scores.
Different Types of Personal Loans
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Yes, you can get instant loan on Aadhar Card from Piramal Finance by providing your Aadhar Card as photo id and address proof. However, you need to submit income proof along with your Aadhar Card to avail an instant loan.
Yes, you can avail ₹50000 loan on Aadhar Card by submitting a copy of the Aadhar Card along with the loan application form. Here, the Aadhar Card acts as a KYC document that helps in quickly verifying all the relevant details about the applicant.
You can apply for a personal loan on Aadhar Card that ranges between ₹ 25 Thousand - ₹ 12 Lakh.
At Piramal Finance, credit score of 650 and above is regarded as a good score to avail Aadhar Card Loan. You can always improve a low credit score, as a good credit score will increase your chances of availing an easy loan.
You can make the payments for Aadhar Card Loan using E-Nach (National Automated Clearing House). It is the most convenient and secure method of making payment.
The processing time for an instant loan on Aadhar Card at Piramal Finance is 24 hours. After the loan documents are verified and approved, we will process the loan within 24 hours.
