No, your Aadhaar card alone is not enough to determine if you can get a personal loan.
The Aadhaar card acts as your identity and address proof, and eases the KYC process. If you have your mobile number linked to your Aadhaar card, you can easily complete your eKYC within minutes.
However, your final loan approval depends on your lender's eligibility criteria and your profile.
Flexible Loan Amount
Borrow any amount starting from ₹5,000 and going up to ₹10 Lakh
Collateral Free Loans
To apply for a personal loan through Moneyview, you don’t need any asset or arrange for a guarantor
Quick Disbursal
The loan amount is disbursed to your account within 24 hours of approval
Affordable Interest Rates
Benefit from low-interest rates starting from 14% per annum
Are you in need of a quick personal loan? Moneyview has your back!
With Moneyview, you can get an instant personal loan of up to ₹10 Lakh in just 10 minutes. All you need is your Aadhaar and PAN cards; no collateral needed.
Enjoy low interest rates starting at 14% p.a. with approval and disbursal within 24 hours.
As mentioned earlier, the loan is not approved just because of your Aadhaar card. Here are the eligibility criteria for a personal loan -
Age: Should be between 21 and 57 years of age
Income: Should have a monthly in-hand income of ₹25,000
Bank Account: Income must be credited directly to your bank account
CIBIL Score: Should be 650 or more
Through Moneyview, you can get an instant loan with your Aadhaar Card or PAN card at affordable interest rates with no hidden charges. Other applicable charges are given below -
| Fees and Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starts from 14% per annum |
| Loan Processing Charges | Starts from 2% of your loan amount and is decided by our digital lending partners. The processing fee is deducted upfront from the approved loan. |
| Penal Charges on Overdue EMI | 24% per annum plus applicable taxes, if any |
| NACH Bounce | ₹500/- each time. |
| Loan Cancellation | You can cancel your loan anytime before the disbursal. However, after disbursal, you can cancel your loan within the cool-off period of 3 days from the date of disbursement. |
The documentation process for a personal loan from Moneyview’s partner lenders is very simple. You don't even have to leave your home because it is completely paperless. All you have to do is -
Enter your PAN number
Ensure that your mobile number is linked to your Aadhaar card for KYC verification
Provide a clear selfie taken in a well-lit area
Please note: The documentation requirements are based on the customer profile. You may need to upload proof of address, bank statement, and other supporting documents.
In case you are required to upload proof of address, any one of the following documents will suffice -
Aadhaar Card
Valid Indian Passport
Valid Voter ID
Valid Driver’s License
Utility Bills (Electricity, Water, Gas) dated within the last 60 days
If you are required to upload proof of income, you can upload the last 3 months’ bank statement (of your salary account). Make sure your salary credits are visible in the statement.
While the Aadhaar card is not enough to qualify you for a personal loan, it is an important document. The Aadhaar card is a unique identity document issued by the Government of India. Here is how an Aadhaar card can aid your loan application -
Speeds up the process as one document works as both identity and address proof
Links your financial and demographic information
Helps in faster background checks and authenticating your details
Once integrated with online loan platforms, it speeds up the e-KYC process
Reduces the need for too many documents
Loan Amount
Min ₹5,000
Max ₹6,000,000
Rate of Interest
Min 6%
Max 36%
Loan Tenure
5
months
Min 3 months
Max 72 months
1
Check Eligibility
Check your eligibility on the Moneyview website or app in just 2 minutes!
2
Select Repayment Period
Choose the loan amount and repayment period from the options provided to you as per your eligibility.
3
Upload Documents
We ask for minimal documents to verify your profile. You can digitally upload your documents online.
4
Amount Disbursed
Once the application is verified and the loan agreement is signed, the loan amount will be directly credited to your bank account within 24 hours!
Your PAN alone cannot qualify you for a personal loan. It is important for your financial and tax identification. Your PAN can help the lender understand your credit history, existing loans, etc.
A few documents are important to secure a personal loan. Here is what each document is needed for -
Aadhaar: KYC and identity verification
PAN: Financial and tax identification
Bank statement: Income/cash flow verification
Credit score & history: Creditworthiness
If you are still confused about the use of your Aadhaar and your PAN card, this table will help you.
|
Criteria |
Aadhaar |
PAN |
|---|---|---|
|
Purpose |
Identity proof & address proof |
Financial/tax verification |
|
Used for KYC |
Yes |
No |
|
Works as Income Proof |
No |
No |
|
Important for Loan Application |
No, but having it speeds up the application |
Yes, helps lender know your other obligations |
Aadhaar card on its own is not enough for personal loan approval. Lenders evaluate several factors like your income, credit score, repayment capacity, and credit history before approving a loan. However, your Aadhaar card speeds up the verification process.
Here is how the Aadhaar and PAN based personal loan process works:
Your Aadhaar card helps lenders verify your identity through OTP-based authentication. It significantly speeds up the onboarding process.
Once the authentication is done, the lender performs e-KYC to verify your name, date of birth, address, and other personal details.
Your PAN details are used to check your credit history. The lender assesses your creditworthiness and determines your eligibility.
Upon successfully passing verification, complete your bank account validation followed by video KYC using your physical PAN card.
Once approved, the loan amount is disbursed directly to your bank account.
Using your Aadhaar speeds up your loan application process; however, you should be careful with your Aadhaar details. Here are some things that you should note -
Apply for a loan only on platforms that you trust
Don't share your details through unknown links
Check interest rates and other associated charges
Check the lender's identity, read reviews, and be informed
Aadhaar-based loan scams can be prevented by following the basic guidelines below:
Avoid sharing your full 12-digit Aadhaar number unless it is necessary. Use a Masked Aadhaar, which displays only the last four digits of your Aadhaar number. You can download this from the official UIDAI portal.
No legitimate lender will ask you for an OTP over a phone call. If anyone asks, disconnect immediately.
Verify the lender before uploading your PAN card or Aadhaar details to any lending app. Make sure that the lender is regulated by the Reserve Bank of India. For a safe borrowing experience, always apply through regulated lenders like Moneyview’s lending partners.
Setting up real-time notifications will allow you to detect unauthorized loan applications using your PAN or detect Aadhaar loan scams at an early stage.
An Aadhaar card loan is a personal loan that uses an Aadhaar card as a paperless e-KYC document. It is easy to avail a personal loan using your Aadhaar card, and it can offer various benefits to borrowers.
As the Aadhaar card meets your eligibility requirements for biometric verification, the process of obtaining a personal loan becomes far simpler and quicker.
An Aadhaar card loan does not mean having an Aadhaar card is enough to get a personal loan. You will still have to fulfill the other eligibility criteria and use your Aadhaar card as your identity and address proof. To apply for a loan through Moneyview, download the app or visit our website.
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Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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