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Loan On Aadhaar Card Only

Need a loan but don’t have the time or documents for a lengthy application process? With just your Aadhaar card, you can apply for a quick and easy loan. Learn more in our article.

5 Jun,2023 13:12 IST 2897
Loan On Aadhaar Card Only

To start with, it is important to clear the term “Loan on Aadhaar card”. Availing a loan on Aadhaar card is not similar to loan on credit cards. Aadhaar card is an identity proof and is not a financial product against which you can avail a loan. So, phrases like “Aadhaar card loan” or “loan on Aadhaar card” are misleading and can confuse the borrowers. On the contrary, when Aadhaar card is used as a paperless e-KYC document to get a personal loan, it is referred to as Aadhaar card loan. Aadhaar card fulfills the requirement for biometric verification so the process of getting personal loan approve becomes simpler and faster.

How To Apply For A Personal Loan Using Aadhaar Card?

Aadhaar card loans have made the process of applying for a personal loan simpler as compared to earlier times. Earlier the borrower had to submit a plethora of documents but nowadays, with Aadhaar card and digitization, number of documents to be submitted has reduced. Aadhaar card serves as a proof of identity, citizenship and birth. If PAN card and your bank account is linked to your Aadhaar card, then you need to provide address and income proof only. You need to give consent to the lender for your background checks based on the Aadhaar card. Once the eligibility criteria and verification are completed, the loan is approved by the lender. As per the new guidelines issued from RBI, Aadhaar card cannot be used as an address proof for financial accounts such as loans or deposits. Thus, you need to provide a valid address proof such as any utility bill, passport, driving license, rent agreement etc.

Mandatory Documents Required For Aadhaar Card Loan

Aadhaar card
Address proof – utility bill, rent agreement, driving license, passport, Voter’s ID etc.
Cheques of your salary account
Passport sized photographs
PAN card
Income proof – salary slips, income tax returns and bank statements
Duly filled application form

Eligibility Criteria For Applying For An Aadhaar Card Loan

You need to be an Indian citizen
You must be working with a public or private company or a MNC
Your age must be between 23 and 57 years
The minimum salary requirements may vary depending upon the lender and city of residence


While many banks and non-banking finance companies provide loans for various purposes it is critical that one considers borrowing money from a reputed lender like IIFL Finance given that one needs to submit confidential information, especially the Aadhaar Card details.

Since the Aadhaar card is a reliable source of information on the borrower's personal details, including identity and proof of age, most lenders now issue loans based on it.

IIFL Finance is a one-stop shop for all of the borrowers' cash requirements. Customers can receive loans more quickly and easily thanks to IIFL Finance simple, totally online approval process for personal loans starting Rs 5,000 and up to Rs 5 lakh.

Frequently Asked Questions

• Can I get a personal loan on Aadhaar card?
You can use your Aadhaar card to apply for a personal loan with any bank or NBFC. Since Aadhaar card contains biometric data, it makes the verification process faster and simpler. Thus, your personal loan, once approved, can be disbursed quicker.

• My credit score is as low as 600. Can I get an Aadhaar card loan?
Ans-  Most lenders require the potential borrower to have a credit score of at least 750. However, some financial institutions can still approve your loan with a credit score of 600.

• Is Aadhaar card loan an installment loan?
Ans-  Yes. Since loan repayments are made in monthly installments, Aadhaar card loan can be considered as an installment loan.

• Is Aadhaar card a mandatory document to apply for a personal loan?
Ans-  No. Although the Aadhaar card helps in speeding up the personal loan application and verification process, it is not a mandatory document. Instead of an Aadhaar card, you can use other documents such as your passport, driving license, etc. for KYC.

• Is it possible to apply for a personal loan on Aadhaar Card without having a PAN card?
Ans-  Yes. If you do not have a PAN card, you can still apply for a loan on Aadhaar card. However, you may be required to provide a few other documents, such as Voter ID card, passport, driving license, salary slips, and so on. The document list can vary depending on the loan provider.

• Do I need a co-applicant for a personal loan on Aadhaar card?
Ans-  Generally, you do not need a co-applicant for a personal loan on Aadhaar card.

• How long does it take for loan to be disbursed when you apply for a personal loan on the Aadhaar card?
Ans-  Applying for a personal loan on Aadhaar is usually a quick process. This is because Aadhaar contains your biometric data, making the verification process, simpler and faster. If you have a good credit score and meet the eligibility criteria of the lender, you can apply for the loan online and get it disbursed within few days.

Disclaimer: The information contained in this post is for general information purposes only. IIFL Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. Given the changing nature of laws, rules and regulations, there may be delays, omissions or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Gold/ Personal/ Business) loan product specifications and information that maybe stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Gold/ Personal/ Business) loan.

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