Do you know when do you need to get a 50000 loan on Aadhaar card? Nobody knows what will happen today later or tomorrow. A financial emergency can come at any time. Either in terms of a medical emergency or it could be any type. Sometimes you can borrow money from friends and family but suppose what if nobody helps you? how will you manage the situation?
To handle such a situation you must know and be aware of instant personal loans. but remember you have to choose a good authentic way to get an instant personal loan. Nowadays in the market, there are several fake apps available for loans but as per RBI Guidelines, you need to most of them are blacklisted.
But don’t don worry here in this article, we will guide to through step by step process to get a 50000 loan on an Aadhar card instantly from an authentic source. Importantly, you need to complete the KYC normas with the help of Your pan card and Aadhaar card. This Aadhaar card loan you can use for your bill, card bill, or any kind of thing.
Now let’s try to understand everything about the Aadhaar card loan of 50000 application process, EMI, interest rates, fees and charges, and application process.
Easy Way to Apply for ₹50000 Loan on Aadhaar card?
Here is the 6-step process to apply for the Addhar card loan.
Step 1
Choose the Authentic Loan provider (you can check from RBI approved loan apps in India and choose any from there)
Step 2
Visit the Official website of the loan provider and download app if available or use the website itself.
Step 3
Fill out the Application and Complete your KYC Verification process so that your profile can be updated with your pan card and Aadhaar card
Step 4:
Now on the next stage, Check your loan eligibility, choose your preferred loan amount, and tenure, and if you find you can pay EMI or amount with your current situation then proceed to apply
Step 5:
Get the amount disbursed to your account within minutes.
Features and Benefits of a Loan on Aadhaar Card of ₹50,000
Here are some of the features and benefits of ₹50,000 loan on Aadhaar card:
1. Instant approval and disbursal
When it comes to Instant and faster loan approval, only the loan on an Aadhaar card is the fastest way to get a loan. Once your KYC is verified you can get a loan within 5 minutes.
2. Minimum Documentation
I remember when I applied for a loan, there were plenty of documents required while getting a personal loan. but this is only a single loan that only asks to verify KYC.
So if you are a new one, and want to get some cash frequently, such a loan can be a lifesaver.
3. Attractive Interest Rates
Probably, after a Home loan, adhaar Loan has a minimum interest rate compared with all kinds of loans available in India. The possible rate of loan against Udyog Adhar is starting at 9.9% p.a.
Note- Here it’s not a fixed-rate loan because the rate of interest always varies with credit Score and other eligibility criteria.
4. Flexible EMI Options
EMI stands for Equal Monthly Intrest, it’s the most flexible way to pay the loan amount. With Adhaar Card Loan you will get a tenure of 3 months to 72 months EMI. But remember as duration increases, the interest rate will get higher and higher.
Eligibility Criteria for Aadhar Card Loan
To get an Adhaar Loan loan you have to fulfill the Eligibility criteria
- Age Minimum age: 21 years
- Maximum age: 65 years
- Credit score 650 or above
- Type of Employment: Salaried or Self-employed
Documents Required for ₹50000 Loan on Aadhaar Card
As we shared earlier, this type of Loan needs a minimum document required. If you have the KYC process, then you are ready to go for Loan on Aadhaar Card. In some cases, you can get the Pan Card as a maximum required document.
What is the Interest Rate on Aadhar Card Loan
Banks’ Interest rates start at 9.9% p.a. and onwards but with EMI if the duration will be higher then you may pay a bigger interest rate.
Must Know Before Aadhaar Card Loan
Keep the following points in mind before applying for a ₹50000 Loan on aadhaar card:
- Compare Lenders
- Check your Credit Score
- Read the Fine Print Carefully
Final Word
Check your loan EMI in advance to better manage your finances. Also, make sure to compare different lenders and their interest rates before applying.
