How to Get ₹10,000 Loan on Aadhaar Card?
Need ₹10,000 cash urgently to pay your rent or bills? Don’t worry, you can take a ₹10,000 loan on aadhaar card, which means you can get the desired amount with only your aadhaar card details. Read on to know how to apply for ₹10,000 aadhaar card loan, the EMI obligations, interest rate, fees and other details.
How to Apply for a ₹10,000 Loan on Aadhaar Card?
You can follow the steps given below to avail of a ₹10,000 loan on aadhaar card online:
- Step 1:
Visit the lender’s website or download the loan app
- Step 2:
Fill in a few personal and KYC details (aadhaar number)
- Step 3:
Check your loan eligibility choose your preferred loan amount and tenure and apply
- Step 4:
Complete your KYC with aadhaar card
- Step 5:
Get the amount disbursed to your account within minutes
Features and Benefits of ₹10,000 Loan on Aadhaar Card
Here are some of the features and benefits of ₹10,000 loan on aadhaar card:
1. Instant Disbursal
Aadhaar card loans facilitate instant disbursal. All you need to do is provide your aadhaar card details to complete the loan verification process. Upon approval, your loan will be disbursed to your account within minutes.
2. Minimal Documentation
You don’t need a bag full of documents to get a ₹10,000 loan on aadhaar card. Just provide your aadhaar details to get your preferred loan amount.
3. Attractive Interest Rates
You can enjoy competitive rates on loan against aadhaar card starting at 9.9% p.a. However, the final rate offered will depend on your eligibility and is at the sole discretion of the lender.
4. Flexible EMI Options
Enjoy flexible repayment tenures ranging from 3 months to 72 months. Select your preferred tenure while applying and repay at your convenience.
Eligibility Criteria for ₹10,000 Aadhaar Card Loan
The table below lists the eligibility criteria for an Aadhaar card loan:
| Age | Minimum age: 21 yearsMaximum age: 65 years |
| Credit score | 650 or above |
| Type of Employment | Salaried or Self-employed |
Documents Required for ₹10,000 Loan on Aadhaar Card
Generally, you would need only your aadhaar card as the primary document to get your loan approved. However, some lenders may ask for additional documents like PAN details, income proof, etc. Check with the concerned lender before applying for a loan.
Interest Rate on Aadhar Card Loan of ₹10,000
The table below highlights the interest rate and other fees and charges on aadhaar card loan:
| Banks | Interest rates |
| Interest Rate | 9.9% p.a. onwards |
| Processing Fee | Nil* |
| Pre-closure Fee | Nil |
*Varies from lender to lender
Calculate your EMI on ₹10,000 Loan on Aadhaar Card
You can calculate your aadhaar card loan EMI both manually and via a personal loan EMI calculator. For manual calculation, use this formula – P x R x (1+R)^N / [(1+R)^N-1],
- P = Principal amount of the loan,
- R = Rate of interest,
- N = Number of monthly instalments.
Let’s understand this with an example:
Let’s assume you have taken ₹10,000 loan on aadhaar card at 12% p.a. interest rate for a tenure of 1 year. This is what your loan EMI would look like:
EMI = 10000* 0.01* (1+ 0.01)^12 / [(1+ 0.01)^12 ]-1 = ₹1056.
Here, the total interest you would have to pay on loan would amount to ₹558.
The total amount payable would be = ₹10,558.
However, this process can be extremely time consuming and may leave room for errors. Instead, you can use a personal loan EMI calculator to get quick results. These calculators are extremely easy to use. All you need to do is enter the loan amount, tenure and interest rate to check the results.
Calculate Your ₹10,000 Aadhaar Card Loan EMI
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Months)
Monthly EMI
0
Total Interest
Total Amount
Things to Remember Before Applying for Aadhaar Card Loan
Keep the following considerations in mind when applying for a ₹10,000 loan on Aadhaar Card.
1. Compare Different Lenders to Find a Good Match
Every lender will have different eligibility criteria, interest rates, repayment tenures, and processing fees. It’s important to consider all these factors when choosing your loan provider.
2. Ensure your Credit score is High
Your credit score significantly contributes to your loan eligibility. A high credit score of 750 and above could help you fetch a loan under favourable terms and conditions.
3. Consider your Repayment Capacity
Understand your financial standing before applying for a loan on aadhaar card. Remember that you have to repay the loan in EMIs and missing EMI payments will have negative implications. So, calculate your EMI in advance, consider your financial stability and then apply for a loan.
Final Word
Getting a ₹10,000 loan on aadhaar card won’t be too difficult to get if you meet the eligibility criteria set by the lender. However, consider the EMI, tenure and interest rate before applying for the loan so that you can better manage your finances.
Looking for an instant cash loan of ₹10,000 on aadhaar card? With Navi Cash Loan, you can get loans from ₹10,000 to ₹20 lakh with flexible EMI options in just 5 minutes. So, what are you waiting for? Download the Navi App today, apply now and meet all your financial requirements hassle-free.
FAQs
An Aadhaar cash loan is the type of loan that you can get from lenders on the basis of your Aadhaar card details. Since the Aadhaar card serves as a KYC document in itself and has information regarding your name, date of birth, and address, lenders typically don’t ask for other documents along with it.
Yes, you can easily get a ₹10000 loan on your aadhaar card provided you’re eligible. Download the loan provider’s app on your phone, enter your personal information, check your loan eligibility, complete your KYC with aadhaar card and get the loan amount disbursed to your account.
After your loan application is reviewed and verified, your loan amount will be instantly disbursed if you are eligible.
The loan’s interest rate depends on various factors, such as the borrower’s eligibility and repayment tenure. At Navi, the interest rate starts from as little as 9.9% p.a. for a ₹10000 loan on aadhaar card.
Ans: Navi offers a convenient, simple and quick way to apply for aadhaar card loans. The process is 100% paperless and loans are disbursed instantly. You also get to enjoy attractive interest rates and flexible repayment tenures with an instant Personal loan from Navi.
Personal Loan in Your City
