Small cash loans are type of personal loans offered by banks and NBFCs to meet short-term financial requirements. These loans are unsecured loans, which means you don’t have to pledge collateral to get a loan. One can use this amount for various purposes and meet their financial needs such as medical emergencies, travel expenses, home repair, purchase a gadget, etc.
Let’s look into the features and other details of a small cash loan.
Small Cash Loan on Aadhaar Card Details
9.9.% p.a. onwards
Up to 72 months
Features and Benefits of a Small Cash Loan on an Aadhaar Card
Here are some of the features and benefits of small cash loans:
1. Instant Disbursal
Enjoy instant disbursals when you apply for a small cash loan on aadhaar card. It usually takes a few minutes to disburse the required loan to your bank account.
2. Minimal Documents
You just need to provide your aadhaar card details to get the required loan amount of your choice. Some lenders may ask your PAN details as well, but that’s all the documents you might need.
3. 100% Paperless
Since most small cash loans are available via apps, the entire loan journey is100% paperless and requires zero human intervention. The e-KYC verification system makes the overall process more simple – meaning you can get a loan from anywhere and anytime.
4. Collateral-free Loans
Small cash loans are unsecured loans. You don’t have to pledge collateral or guarantor to get these loans.
5. Attractive Interest Rates
Eligible applicants with an excellent credit score of 750 or above can get lower interest rates on small cash loans. However, the final interest rate offered is at the sole discretion of the lender and depends on multiple factors including but not limited to your income, creditworthiness and repayment history.
6. Flexible EMI Options
Small cash loans come with flexible repayment tenures and could range from 6 months to 72 months or more. You have the option to choose the tenure as per your financial standing and repay the amount at your convenience.
Interest Rate on Small Cash Loan on Aadhaar Card without PAN Card
Refer to the table below to check interest rate and other details of small cash loans on aadhaar card without PAN card
9.9% p.a. onwards
How to Apply for a Small Cash Loan on an Aadhaar Card without a PAN Card?
Here’s how you can apply for a small cash loan on aadhaar card without PAN card:
Go to the lender’s website or download the app.
Enter a few basic details like your name, address, Aadhaar details, etc.
Check your loan eligibility – select your preferred loan amount and tenure.
Complete your e-KYC with aadhaar card.
Enter bank details, set-up bank auto-debit and get the loan amount disbursed to your bank account in minutes.
Documents Required for Small Cash Loan on Aadhaar Card
To avail a small cash loan on aadhaar card without PAN card, you will only need to provide your aadhaar details. Your aadhaar card will serve as a legal document for e-KYC verification conducted by the banks and NBFCs. This process is quick as the unique aadhaar number makes it easy for authorities to conduct a quick verification. Just make sure that your bank account and phone number are linked to your aadhaar card.
Eligibility Criteria for Small Cash Loan on Aadhaar Card Without a PAN Card
Before you apply for a small cash loan on aadhaar card without PAN card, here’s a checklist of the eligibility criteria:
Age – Between 21 and 65 years
Nationality – Indian residents
Employment Type – Salaried or self-employed individuals
Small or big, an unforeseen financial requirement could be a source of stress. However, you have the option to mitigate this stress by taking an instant cash loan on aadhaar card. This has made it easier and more convenient to get a small loan instantly anywhere, anytime. So, what are you waiting for? Apply for a small cash loan and keep your financial worries at bay.
Q1. Can I take a loan without a PAN Card?
Ans: Yes, you can avail of a cash loan without your PAN Card, provided you’re eligible and have aadhaar card as your primary identity proof. However, your loan approval entirely depends on the lender.
Q2. How much loan can I get on an Aadhaar Card?
Ans: With an aadhaar card, you can get a loan amount anywhere between ₹10,000 – ₹20 lakh which you can use for any financial needs.
Q3. How can I get a loan with my Aadhaar Card?
Ans: Getting a loan with your aadhaar card is easy and fast. Follow these steps: Step 1: Visit the lender’s website or download the app Step 2: Enter your details to check eligibility Step 3: Choose your preferred loan amount and loan tenure Step 4: Complete your KYC with aadhaar Step 5: Link your bank account, set up auto-debit and get the loan amount disbursed to your account within minutes
Q4. Can I get a loan if my CIBIL score is low?
Ans: If your CIBIL score is poor, your loan application might get rejected. However, if your CIBIL score is average, let’s say between 650 and 700, you can get a cash loan but at a higher rate of interest.
Q5. How to improve my CIBIL score?
Ans: You can improve your CIBIL score via • Clearing your pending credit card bills • Paying EMIs within the due date • Maintaining a healthy credit utilisation ratio
Q6. What happens if I default on my cash loan?
Ans: You might have to pay a hefty penalty fee if you default on your loan. Also, your credit score will be affected. This can block your access to future credit requirements.
Q7. How should I repay my small cash loan?
Ans: You can repay your loan in easy EMIs or Equated Monthly Instalments. Set up auto-debit with your bank to ensure that EMIs are paid regularly, within the due date.
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