Unlimited benefits with a start-to-finish digital process with IDFC First Bank Home Loans
The only FASTag with triple benefits
A medical emergency situation like sudden breathing problem can arise anytime, and it requires an urgent medical care. A situation like shortness of breath for an elderly parent requires hospitalization and numerous tests, which cost a lot of money. You may find it very difficult to pay the increasing medical expenses, even with health insurance coverage. A personal loan can help you in emergency like this, as well as for expenses connected with higher education, wedding, home repair and funeral.
Being an unsecured loan, a personal loan does not ask for any collateral. Any eligible individual can borrow money from a bank for a reasonable interest rate to meet his or her true financial needs. You can take this loan using any of the valid identity documents such as an Aadhaar Card or a PAN Card.
There is no requirement of much documentation to get a instant loan card if you are an eligible applicant. Nevertheless, you may also need to submit your PAN card if the lending bank requires it. For getting a loan, you have to establish your identity and address through documents, which are called ‘Know your customer’ or KYC documents.
An Aadhaar card is considered to be a valid KYC document for it has both the identity proof (with photograph) and address proof. You can apply an instant loan on Aadhaar card online by filling out an application form and submitting e-KYC document. This helps the bank verify your identity with the details such as Aadhaar card number, biometric details, name, gender, address, date of birth and photograph, which UIDAI maintains.
Therefore, you are not required to submit any hard copies of the documents when you go for Aadhaar card loan apply online.
An Aadhaar card is a single-identification KYC document, which is made mandatory for any financial institution to lend money. Using it, you can apply for a personal loan instantly, which is described step by step.
Step 1: The procedure starts by logging into the website or mobile app of your bank.
Step 2: In the options, go to the ‘Loans’ and choose the ‘Personal loan’ to go to the particular page. Next, check whether you are eligible for the loan, and click on the ‘Apply now’ tab.
Step 3: You are asked to fill in the online application form providing your personal, employment and professional details on the website or app.
Step 4: From the customer support team, a representative will call you for the verification of the details provided. Depending on the eligibility, your request for the loan is approved.
Step 5: You are asked to upload the documents like the copy of Aadhaar card required for verification.
Step 6: After the verification, the loan amount is credited to your savings account.
The entire process of applying instant loan on Aadhaar card is smooth, safe and easy online, and this makes it more popular than other loans.
Before you apply for an instant loan, check whether you fulfil the eligibility criteria given. For instance, you need to meet the following requirements to become eligible for an instant loan from IDFC FIRST Bank.
For a personal loan, apply online now using an Aadhaar card, which helps you get a loan easily at competitive interest. You can visit the IDFC FIRST Bank website here or download the IDFC FIRST Bank mobile app to apply now.
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.