How to Get 50000 Personal Loans with Aadhaar Card: Check Eligibility and Documents

A personal loan of Rs.50,000 is considered to be a small cash loan. Like any other loan, a personal loan of 50,000 requires basic documentation like an Aadhar card and PAN card for verification. With real-time verification of KYC documents, borrowers are eligible for an Aadhar card personal loan of 50,000. Aadhar registered to the mobile number enables ease of verification between the lender and borrower, facilitating the loan approval process.

Submitting a loan application is no more a lengthy and time-consuming process, all thanks to the acceptance of user-friendly loan apps and websites. Hero FinCorp is one such personal loan app that requires an Aadhar card number linked with the applicant’s mobile number. It is a user-friendly instant loan app that follows paperless documentation and gives relief to borrowers with instant loan sanctions of between Rs 50,000 and 1.5 lakh. This can be used to cover immediate cash needs and clear debts.

Steps to Use Aadhar Card to Avail of 50,000 Personal Loans

1. Install an instant loan app on your phone or visit the loan provider’s website
2. Register with your mobile number and email id
3. Enter a mobile number that is linked to your Aadhar card for ID and address verification
4. Enter the 12-digit Aadhar card Number as KYC proof. Also, enter PAN card details
5. Some websites may require a scanned copy of the Aadhar card with other income-related documents
6. After verification of the submitted documents, the sanctioned loan amount will be credited directly into your bank account

Earlier, the scenario was time-consuming where borrowers carried loads of documents, waited in the queue, and further anticipated loan approval for a long time. With the launch of the Aadhar card, many people find it easy to apply for loans online. The process has become hassle-free as one document serves as proof of identity, address, age, and citizenship.

Why Use Aadhar Card for Personal Loans?

Students applying for education loans to study abroad should have their Aadhar cards handy. It confirms your citizenship in a foreign land, speeds up the application process, and increases the credibility of the borrower.

So, whether it is a personal loan of only Rs 50,000 or more, Aadhar card forms the basis of loan approval. In case, you have misplaced your Aadhar card, wait for the new one to arrive and avoid applying for a personal loan in the absence of Aadhar card.

Individuals with a minimum monthly income of INR 15,000 can also apply for a personal loan on Hero FinCorp using an Aadhar card.

The in-built loan EMI calculator allows borrowers seeking 50000 Rupees loan on Aadhar card to set a suitable EMI that is not a burden to repay every month. Factors like loan amount, interest rate and tenure are the basic factors that can be flexibly moved in the calculator to derive a desirable EMI.

Eligibility Criteria for a 50000 Loan on Aadhar Card

To apply for a personal loan using your Aadhar card, you must meet the following eligibility criteria:

• Age: Applicant must be between 21 and 60 years of age.
• Income: A minimum monthly income of INR 15,000 is required.
• Employment: Both salaried and self-employed individuals are eligible.
• Credit Score: A good credit score increases the chances of approval.
• Nationality: The applicant must be an Indian citizen.

Required Documents for a 50000 Loan on Aadhar Card

When applying for a personal loan, ensure you have the following documents ready:

• Aadhar Card: For identity, address, and age proof.
• PAN Card: For identity proof and to check your credit score.
• Income Proof: Recent salary slips or bank statements (last 3-6 months).
• Address Proof: Utility bills, rent agreement, or any other valid proof if not mentioned on Aadhar.
• Photographs: Recent passport-sized photographs.
• Employment Proof: For salaried individuals, a letter from the employer or employment ID.

Conclusion

Whether you need a small personal loan of Rs. 50,000 or more, using your Aadhar card simplifies the application process. The integration of Aadhar with mobile numbers and the digitization of loan processes have made it easier and quicker for borrowers to get loans approved. If you’ve misplaced your Aadhar card, it’s best to wait for a replacement before applying for a loan.

There are several instant personal loan apps available on Google Play Store. Compare all features/benefits/interest rate etc. and initiate the loan application of Rs.50,000 using Aadhar card.

Frequently Asked Questions

1. How do I apply for a ₹50,000 personal loan using my Aadhar card?

Install an instant loan app or visit the lender’s website, register with your mobile number, enter your Aadhar card and PAN card details, and submit the necessary documents.

2. How long does it take to get a ₹50,000 personal loan approved?

With real-time verification of KYC documents, the loan approval process is quick, and the sanctioned amount is credited to your bank account within a working day.

3. What are the benefits of using an Aadhar card for a personal loan?

Using an Aadhar card simplifies the loan process as it serves as proof of identity, address, age, and citizenship, making the verification process quicker and easier.

4. Can I apply for a ₹50,000 personal loan using only my PAN card?

Yes, you can apply for a 50,000 loan on PAN card, but you will also need to provide other documents like your Aadhar card for complete verification.

5. What can I use a personal loan of Rs. 1,50,000 for?
A personal loan of Rs. 1,50,000 is a multi-purpose loan that can be used for various needs, including medical emergencies, home renovations, education expenses, travel, weddings, and other personal requirements.