Did you know that you can now get loans by showing just two ID proofs, namely Aadhar card and a Pan card? These loans are now being popularly known as Aadhar card loan, which is a type of an unsecured mode of financing for retail borrowers in India. These two documents act as KYC documents for the lender, thus eliminating the need to physically visit their office to submit all the documents in case of Aadhar card personal loan.
You can download the Navi app from Play Store.
Pan card loan, as they are famously referred to, require just a Pan card and an Aadhar card from the borrower, not even a collateral. These are personal loans which can be taken to finance an emergency requiring immediate cash. The time taken for getting these instant cash loan on Aadhar card has reduced significantly, as these two documents act as KYC for the bank. As a result, the loan approval process has become faster.
This process of Know-Your-Customer was made mandatory by the central bank for every borrower applying for a loan to curb money laundering. Lenders have initiated the e-KYC procedure, which has streamlined the application process. This change has circumvented the erstwhile process of submission of multiple documents during loan application. An Aadhar card and pan card are enough to provide almost every detail of a borrower, and thus, these Aadhar card loans are less time-consuming.
These days, the loan application process is completely online, making it even easier to apply for one. There are many lenders present online, and one such famous Aadhar card loan app is Navi, which is known to give the best offers on personal loans, with same day sanctioning of loan. Here, you get access to lucrative offers and lower interest rates than what traditional lenders are offering.
You have to visit their app to apply for a loan, where you will have to upload a scanned version of your Aadhar card and pan card. Enter the loan amount and EMI you are comfortable with. A representative will call you to confirm and verify your details. You might be asked to upload your salary slip or other such proofs, post which the loan amount will be transferred to your bank account. This is how easy it is to get a personal loan on Aadhar card.
Navi is one of the best pan card loan apps in India, with its instant loan facility and paperless process. It’s features and benefits are:
Navi’s app only asks a loan applicant to upload only their Aadhar card and pan card; in many cases, they don’t even have to upload their salary slips or bank statements. The company uses these documents as a part of Know Your Customer (KYC) process, which also is done online. The borrower will have to visit Navi’s office not even once from the loan application stage to its closure. Paperless process and minimal documentation are what makes this Aadhar loan even more tempting. The eligibility criteria is that a borrower should be an Indian resident, 18+ years in age with a stable source of income. You are all set to get a personal loan on Aadhar card only on Navi up to INR 5 lakhs if you fulfil these basic conditions, and have a pan card and an Aadhar card.
There are online loan calculators available which you can use to know your monthly cash outflow in the form of EMI.
Yes, there is an Aadhar card loan offered by many banks and direct lenders in India.
Navi offers personal loans that range between INR 10,000 to INR 5 lakhs. The processing fee is usually 2.5%.
The interest rate on a personal loan on Aadhar card only offered by Navi is typically in the range of 16% to 30%, depending on the borrower.
You just have to install the Navi app from and apply for an instant loan on Aadhar card in 3 easy steps.
Axis Bank Personal Loan Interest Rates April 2023
Axis Bank Personal Loan interest rates are currently starting at 10.49% p.a. for loans of ₹25,000... Read More »No Credit Check Loans in India
What is No Credit Check Loan? A ‘no credit check loan’, as the name suggests, does not... Read More »Instant Cash Loan in 1 Hour Without Documents
Instant Cash Loan in 1 Hour Are you in any emergency cash crisis and in need of an instant cash ... Read More »Personal Loan on PAN Card – Check Your Eligibility & Apply Now!
Do you need urgent cash to pay for an unexpected expense, a pending bill, or a medical emergency? A... Read More »What are Short Term Loans? – Key Features and Benefits
Short Term Loan A short term loan provides urgent assistance for an individual’s financial req... Read More »Interest Rate on NBFC Personal Loan
NBFC Personal Loan Non-Banking Financial Companies (NBFCs) are becoming increasingly popul... Read More »How to Apply for a Pre Approved Personal Loan?
Pre Approved Personal Loan Pre-approved loans are instant personal loans that are offered by ban... Read More »Personal Loan Disbursal Process
A personal loan is an unsecured loan which you can avail to deal with any type of financial emergen... Read More »Unsecured Loan – Types, Benefits, Interest Rate & Eligibility
What is an Unsecured Loan? An unsecured loan is a type of loan that doesn't require any collater... Read More »Small Cash Loan on Aadhaar Card without PAN Card
Small cash loans are type of personal loans offered by banks and NBFCs to meet short-term financial... Read More »Personal Loan for Low CIBIL Score Applicants – Eligibility Criteria and How to Apply
Overview - Personal Loan With Low CIBIL Score Be it for a medical emergency, a sudden business o... Read More »What is a Fast Loan – Features, Interest Rates and How to Apply Online?
What is a Fast Loan? A fast loan is an instant personal loan that allows you to borrow money wit... Read More »Top 10 Chit Fund Schemes in India in 2023
Chit funds are one of the most popular return-generating saving schemes in India. It is a financial... Read More »10 Best Gold ETFs in India to Invest in April 2023
Gold ETFs or Gold Exchange Traded Funds are passively managed funds that track the price of physica... Read More »10 Best Demat Accounts in India for Beginners in 2023
Creation of Demat accounts revolutionised the way trades were conducted at the stock exchanges. It... Read More »20 Best Index Funds to Invest in India in April 2023
What is an Index Fund? An index fund is a type of mutual fund or exchange-traded fund (ETF) that... Read More »Best Arbitrage Mutual Funds to Invest in India in April 2023
Arbitrage funds are hybrid mutual fund schemes that aim to make low-risk profits by buying and sell... Read More »10 Best SIP Plans in India to Invest in April 2023
What is SIP? SIP or Systematic Investment Plan is a method of investing a fixed amount in ... Read More »10 Best Corporate Bond Funds in India to Invest in April 2023
Corporate bond funds are debt funds that invest at least 80% of the investment corpus in companies ... Read More »10 Best Bank for Savings Account in India [Highest Interest Rate 2023]
Savings account is a type of financial instrument offered by several banks. It lets you safely depo... Read More »