Looking for a Rs. 2 lakh loan on Aadhaar card to manage urgent expenses? Tata Capital offers a simple and fast loan application process using Aadhaar as your primary KYC document. However, it is important to note that the Aadhaar card alone is not sufficient to avail the loan. You will be required to submit additional documents such as your PAN card and salary slips, etc.
At Tata Capital, we understand that unexpected expenses or pressing financial needs can arise at any time. We aim to provide swift and reliable financial solutions to help you overcome these challenges, without unnecessary paperwork or delays.
Benefits of a Rs 2 Lakh Loan on Your Aadhaar Card
Here are the benefits of availing of a Rs 2 lakh loan on Aadhaar card:
Flexible Loan Amount: With a Rs 2 lakh loan, you can address various financial requirements such as medical emergencies, home repairs, education expenses, or even debt consolidation.
Collateral-Free Loans: Unsecured loans that do not require any collateral or security. This means you do not have to worry about pledging any assets to avail of the loan.
Attractive Interest Rates: Competitive interest rates on loans ensure affordable monthly repayments and reduce your overall financial burden.
Flexible Repayment Term: You have the freedom to choose a repayment tenure that aligns with your financial situation and comfort level. At Tata Capital, you can select a tenure of up to 60 months for your Rs 2 lakh loan.
24-Hour Disbursal: You can expect to receive the sanctioned loan amount directly in your bank account within 24 hours. This ensures immediate access to funds when you need them the most.
Eligibility Criteria for Rs 2 Lakh Loan on Aadhaar Card
To apply for a Rs 2 lakh loan on your Aadhaar card, you need to meet the following eligibility criteria:
Citizenship & Age: You should be an Indian citizen aged between 21 and 58 years.
Occupation: This loan is available for both salaried individuals and self-employed individuals.
Work Experience: Salaried individuals should have at least six months of employment history, while self-employed individuals should have a minimum of two years of business experience.
Maximum Loan Tenure: You can enjoy a flexible repayment tenure of up to 60 months.
Maximum Loan Amount: You can apply for a loan amount of up to Rs 5 lakh, depending on your eligibility and requirements.
Monthly Income: Maintain a minimum monthly income of Rs 15,000 to meet the eligibility criteria.
It is important to note that meeting these eligibility criteria does not guarantee loan approval. The final decision rests with the lender based on their internal policies and credit assessment process.
Documents Required for 2 lakh loan on Aadhaar card
The following documents will be required to avail a loan with Aadhar card for KYC:
આધાર કાર્ડ
Address proof like your utility bills, passport, driver’s license, or voter’s ID
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આવકવેરા રીટર્ન
Interest Rates and Other Charges For Rs 2 Lakh Loan on Aadhaar Card
Understanding the interest rates and charges associated with your Rs 2 lakh aadhar loan is crucial. Here are the details:
Interest Rate: The interest rate for a personal loan can range from 11% to 35%, depending on factors like your credit history, income, and repayment capacity.
Processing Fee: Lenders typically charge a processing fee for loan applications. This fee can range from 2.5% to 3.5% of the loan amount. To get an accurate EMI calculation specific to your loan requirements and tenure preference, you can use a personal loan EMI calculator.
Now that we have covered the eligibility criteria and interest rates, let us move on to the application process for the Rs. 2 lakh loan on your Aadhaar card.
Personal Loan EMI of Rs 2 Lakh: Tenure 1-5 Years
When planning to take a Rs. 2 lakh loan on Aadhar card with a flexible repayment tenure of 1 to 5 years, it’s important to know your monthly EMIs. Here’s a look at how the EMI varies for a Rs. 2 lakh loan at an 11% interest rate across different tenures:
Loan Amount (Rs.)
અવધિ (વર્ષ)
Interest Rate (%)
Monthly EMI (Rs.)
2,00,000
1
11
17,676
2,00,000
2
11
9,322
2,00,000
3
11
6,548
2,00,000
4
11
5,169
2,00,000
5
11
4,348
Steps to Apply for a Rs. 2 Lakh Loan on an Aadhaar Card
Here is the process of applying for a Rs. 2 lakh loan on your Aadhaar card:
Research and Compare: Start by researching different lenders and comparing their interest rates, charges, repayment terms, customer reviews, etc.
Gather Documents: Collect all the necessary documents required for the loan application process. These may include your Aadhaar card, PAN card, salary slips (for salaried individuals), bank statements, income tax returns (for self-employed individuals), etc.
Visit the Lender’s Website: Once you have chosen a lender, visit their official website or download their mobile app to begin the application process.
Fill in Details: Provide all the required personal and financial details accurately in the loan application form. Be sure to mention that you are applying for a Rs. 2 lakh loan on your Aadhaar card.
Upload Documents: Digitally upload all the necessary documents as per the lender’s instructions. Ensure that all the documents are clear and legible to avoid any delays in processing your application.
Submit Application: Double-check all the information provided in the application form and then submit your loan application online.
Await Approval: Once you have submitted your application, the lender will review your details and evaluate your eligibility for the loan. This process usually takes a few days, but some lenders offer quick approval within 24 hours.
Loan Disbursal: If your loan application is approved, the sanctioned loan amount will be credited directly to your bank account within a specified timeframe, usually within 24-48 hours.
નિષ્કર્ષ
Obtaining a loan on your Aadhaar card can be a convenient option when you require immediate financial assistance. With Tata Capital’s streamlined process, minimal documentation, competitive interest rates, and quick disbursal of funds within 24 hours, we aim to make your borrowing experience hassle-free.
Remember to carefully assess your financial situation and repayment capacity before applying for any loan. Ensure to read and understand all terms and conditions provided by the lender. If you meet the eligibility criteria mentioned earlier and require a Rs. 2 lakh loan on your Aadhaar card, download the Tata Capital App to begin your application process today.
You can apply for instant 2 lakh loan on Aadhar card at Tata Capital. Depending on your eligibility and profile, you will be able to avail the loan in 24 hours.
Can I get Rs. 2 lakh personal loan without salary slip?
Yes, you may get a Rs. 2 lakh personal loan without a salary slip by providing alternate income proof like bank statements, ITR, or pension documents, depending on the lender’s policy.
How long does it take to get approval for an Aadhaar card loan?
An Aadhaar card loan can be approved within a few hours to a few days, depending on your profile and the lender’s processes.
Are Aadhaar card loans secure and reliable?
Yes, Aadhaar card loans from financial institutions such as Tata Capital are secure and reliable.
Can I get more than one loan on an Aadhaar card?
You can avail more than one loan depending on the financial institution’s policies and your credit score.
What happens if I default on an Aadhaar card loan?
Default on the loan may lead to negative impact on your credit score, thereby decreasing your creditworthiness.
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