Small Cash Loan on Aadhar Card: Small cash loans are given by banks and NBFCs to meet short-term financial requirements. This loan is called an unsecured loan. You do not have to pledge anything to get this loan. Anyone can use this loan amount as per their convenience.
How to apply small cash loan on Aadhar card
You can apply for a small cash loan on an Aadhar card without a PAN card by following the steps given below.
- You go to the website of the lender from whom you want to take a loan or download the app.
- Then enter your name, address, and Aadhaar information there.
- Then check whether there is a letter for that loan or not select the loan you want to take and also select your tenure.
- Complete your e-KYC with your Aadhaar
- Set up bank auto-debit by entering your bank information and getting the money you want
Without PAN Card Interest Rate on Small Cash Loan on Aadhaar Card
| Interest Rate | 9.9% p.a. onwards |
| Processing Fee | Nil* |
| Foreclosure Charges | Nil* |
Eligibility for taking a loan without a PAN card
- Age – Between 21 to 65 years
- Nationality – Indian
- Employment Type – self-employed individuals and Salaried
Features and benefits of a small loan on Aadhar card
1. Instant Disbursal
Whenever you apply for a small loan through an Aadhar card, you get the loan immediately, it does not take much time for you. Usually, it only takes a few minutes for that money to appear in your account.
2. Minimal Documents
You do not require many documents to take this loan, your work is done only with an Aadhar card. If ever the need arises, you can also ask for a PAN card, it does not require more documents than this.
3. Paperless
Most of the small cash loans are available through the app itself, which is why you do not need to submit any paper, and no human intervention is required.
In this, the KYC verification system works to make the entire process more simple. So that you can get a loan anywhere and anytime.
4. Collateral-free Loans
Such small loans are unsecured. To avail of these loans you do not need to mortgage any of your property.
5. Interest Rates
People whose credit score is 750 or more can get low interest on small loans. But the final interest given depends on the discretion of the lender