Personal Loan on Aadhar card: Are you running short of funds but reluctant to go through long paperwork and the necessity of having a guarantor? Here is an exciting offer! You can take a loan of ₹2 lakh without collateral, using only your Aadhaar card, and that too from your home!
Many renowned banks and digital lending apps, these days, provide pre-approved instant loans with minimal documentation. If you hold a good score with CIBIL and yours is a stable income, the money could be transferred into your account in minutes!
So, let’s explore into further details about how to get that ₹2 lakh Personal Loan all on your Aadhaar card and which are the best platforms to do so.
Top Banks & Apps Offering ₹2 Lakh Loan on Aadhaar Card
Banks Providing Instant Aadhaar-Based Loans
- SBI (YONO App) – Loans up to ₹15 lakh, 100% paperless, 24×7 availability.
- HDFC Bank – 10-second loan transfer for pre-approved customers.
- Bank of Baroda – ₹50,000 to ₹5 lakh loans with quick disbursal.
Best Loan Apps for Quick Disbursal
| App | Loan Range | Interest Rate | Rating |
|---|---|---|---|
| MoneyView | ₹5,000–₹10 lakh | 10% onwards | ⭐4.8 |
| Fibe (EarlySalary) | ₹5,000–₹5 lakh | 12% onwards | ⭐4.5 |
| Branch | ₹1,000–₹2 lakh | 17%–29.95% | ⭐4.5 |
| Buddy Loan | ₹10,000–₹15 lakh | 11.99% onwards | ⭐4.5 |
Important Note: You can only avail a loan if you have a pre-approved offer from these lenders.
Benefits of Aadhaar-Based Instant Loans
- Lightning-Fast Processing – Get money in minutes, not days.
- No Collateral Needed – Your Aadhaar and income proof are sufficient.
- Lower Interest for Good CIBIL Score – Better credit history = Cheaper loans.
- 100% Online Process – No branch visits or physical paperwork.
Eligibility Criteria for ₹2 Lakh Aadhaar Loan
To qualify, you must meet these simple requirements:
- Age: 21–58 years
- Aadhaar Card: Linked with mobile number & bank account
- Income: Minimum ₹15,000/month
- CIBIL Score: 650+ (Higher score = Better rates)
- Employment/Business: At least 6 months old
- NACH Mandate Approval (via Net Banking/Debit Card)
Documents Required
Since this is a pre-approved loan, most lenders won’t ask for extra documents. However, keep these handy:
- PAN Card
- Aadhaar Card (Linked with Mobile)
- Bank Statements/Salary Slips (if requested)
- Selfie Verification (for digital KYC)
Interest Rates & Charges
Before applying, be aware of these costs:
- Interest Rate: 10%–30% p.a. (Depends on credit profile)
- Processing Fee: 2%–4% of loan amount
- Late Payment Penalty: ₹250–₹1,000 per EMI
- Pre-Closure Charges: 2%–5% (if repaid early)
- GST: 18% on all fees
Pro Tip: Always compare interest rates across lenders to save money!
How to Apply for ₹2 Lakh Loan on Aadhaar Card? (Step-by-Step)
- Check Pre-Approved Offers – Log in to your bank app or loan platform.
- Select “Personal Loan” Option – Choose the pre-approved offer.
- Enter Aadhaar & PAN Details – Verify via OTP.
- Fill in Income & Bank Details – Ensure accuracy for quick approval.
- Choose Loan Amount & Tenure – Select EMI plan wisely.
- E-Sign & Receive Funds – Money credited instantly!