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Importance of Aadhar Card While Applying for Online Loans

Importance of Aadhar Card While Applying for Online Loans

In India, most lenders have set their loan eligibility criteria quite clearly, including Aadhar cards and PAN cards as mandatory documents. Aadhar Card is a 12-digit unique identification number issued by the government of India. The number serves as a proof of identity and address anywhere in India.

Aadhar card is considered a mandatory document while applying for an instant personal loan online. Through e-KYC verification. Aadhar card has enabled the paperless verification process through simplified e-KYC validation. Instant loans online can be applied for both secured and unsecured loans, for which Aadhar card stands as an important e-KYC document.

What is an instant loan online?

Instant loans are loans when the need for money is immediate, and you request for finance that is readily available online for various purposes like personal loans, medical loans, education loans, travel loans, car loan, etc.

The quickest way to apply for an instant personal loan is to go online and download a credible instant loan app or apply via official personal loan websites. In addition, an instant personal loan online is immediately sanctioned if your Aadhar card and other KYC documents are accurate and authentic.

SmartCoin, India’s most trusted personal loan app, offers an instant loan online for various purposes like home renovation, travel, consumer durable loan, medical, wedding, business, etc.; with Aadhar and PAN card as mandatory documents.

Besides, SmartCoin is a user-friendly app that offers a loan amount from 1,000 – 1,00,000 at a fast rate, approved with an Aadhar card. So, overall, you must have understood, it’s an Aadhar card everywhere when it comes to a personal loan application. In the absence, loan availability can be delayed or discarded.

Benefits of Aadhar card while applying for an instant loan online

  • Aadhar card is a safe and genuine proof of your citizenship and personal identity
  • Aadhar card makes an instant loan online much easier with a paperless verification process
  • This single document is used for multiple personal identifications like your date of birth, photo, address, and citizenship
  • Aadhar card e-KYC verification is done in real-time for an immediate result
  • Aadhar card linked to your mobile number makes the process easier

How to apply for an instant loan online with your Aadhar card

Applying for an instant personal loan from SmartCoin is an effortless procedure. Even if you are not internet savvy, you can apply online easily. Here is the simple process for availing of an instant loan with your Aadhar card as a mandatory document:

  • The first step, install the SmartCoin loan app from the Google Play Store on your Android phone.
  • The second step is to register using your phone and email id.
  • The third step will allow you to enter your Aadhar number and PAN card number for e-KYC verification
  • As the next steps, fill in the application form and mention your personal/professional details.
  • We will then verify your details and will unlock loan offers keeping in mind your eligibility.
  • Once unlocked, mention the purpose of your loan and choose the required loan amount.
  • Voila, your loan amount gets disbursed in less than an hour!

Hence, the Aadhar card is a powerful personal document to avail of a personal loan instantly. The use of an Aadhaar card in a loan is the base of modern lending. The instant loans which are claimed to be disbursed within hours become possible because of the online verification of the applicant via e-KYC.

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