Applying for a ₹50,000 Loan Using Aadhaar Card

An Aadhaar Card is one of the important KYC documents to get a Rs. 50,000 loan. Individuals may apply for different financial products including personal loans. To apply for a loan, borrowers need to provide personal details.

We are guiding you in applying for a ₹50,000 loan using the Aadhaar Card and exploring other eligibility details.

₹50,000 Loan Using Aadhaar Card

Interest Rate	16% to 18% p.a.
Loan Term	6 months to 36 months
Applicant Age	21 -58 years
Eligible For	Salaried / Self Employed

Benefits of Using Aadhar Card for Loan Application

Utilize your KYC documents like an Aadhaar Card for loan application comes with various benefits:

Simplified Process: Aadhaar-based loan process has simplified the application by skipping the paperwork and documentation process.

Fast Loan Approval: Aadhaar card is one of the important documents in India. So, lenders verify the Aadhaar card only and disburse the loan quickly.

Digital Access: Lenders do the KYC verification process with Aadhaar OTP. The KYC process is complete within 10 minutes and the lender approves the loan digitally.

Enhanced Security: Aadhaar maintains applicant security features with biometric authentication. This facility secures borrower documents from identity theft or fraud.

Eligibility Criteria

It would help if you understood the criteria for a ₹50,000 loan using an Aadhar card. Eligibility may be changed between lenders, but the overall eligibility is the same.

• Residence: Borrower residence must be in India with valid KYC documents.
• Age: Generally, the age requirement starts from 21 to 55 years.
• Income: Salaried with Rs. 12,000 net salary and Self-employed with ABB (Average Bank Balance) of Rs. 10,000 are eligible.
• A credit report must be good to apply for a loan. The CIBIL score of -1 or 700 is fair enough.

Also Read: Poonawalla Fincorp Instant Loan

Documents for 50,000 Loan on Aadhaar

• KYC Documents: Aadhaar Card / Pan Card
• Salary Slip for Salaried customer and Trade License, IT File for Self Employed.
• 6 months latest statement
• Utility bill or Gas bill for residential proof

Personal Loan for Salaried Customer

Lender	Interest Rate	Salary
WeRize	1.35% per month	Rs. 12,000	Apply Now
MoneyView	1.33% per month	Rs. 13,500	Apply Now
InCred	11.49% to 18% p.a.	Rs. 15,000	Apply Now
Fibe	24% to 30% p.a.	Rs. 15,000	Apply Now
Finnable	16% to 22% p.a.	Rs. 15,000	Apply Now
Faircent EEZEE	12% to 28% p.a.	Not Required	Apply Now
IDFC	12.50% to 18% p.a.	Rs. 15,000	Apply Now
PaySense	1.4% to 2.3% per month	Rs. 18,000	Apply Now
Upward	9% to 32% p.a.	Rs. 18,000	Apply Now
Faircent	12% to 28% p.a.	Rs. 25,000	Apply Now

Business Loan for Self Employed Customer

Lender	Interest Rate	Loan Amount
Faircent	14% p.a. to 21% p.a.	Rs.50,000 to Rs.10 lakh	Apply Now
InCred	18% p.a. to 28% p.a.	Rs.30,000 to Rs.5 lakh	Apply Now
IIFL	11.25% p.a. to 33.75% p.a.	Rs.50,000 to Rs.30 lakh	Apply Now
Chola Finance	14% p.a. to 21% p.a.	Rs.30,000 to Rs.20 lakh	Apply Now
Poonawalla  Fincorp	15% p.a. to 28% p.a.	Up to Rs.50 lakh	Apply Now
FT Cash	12% p.a. to 22% p.a.	Up to Rs.50 lakh	Apply Now
NeoGrowth	19% p.a. to 24% p.a.	Up to Rs.75 lakh	Apply Now
FlexiLoans	12% p.a. onwards	Up to Rs.1 crore	Apply Now
LendingKart	12% p.a. to 28% p.a.	Up to Rs.1 crore	Apply Now
Ashv Finance	18% p.a. to 21% p.a.	Up to Rs.40 lakh	Apply Now
Aditya Birla	14% p.a. onward	Up to Rs.15 lakh	Apply Now
Tata Capital	16.50% to 19% p.a.	Up to Rs.75 lakh	Apply Now

Steps to Apply for a ₹50,000 Loan Using an Aadhar Card

1. Choose Your Lender: You should research and compare tenure, and interest that offer loans using Aadhaar card details.

2. Loan Eligibility: You should verify loan eligibility details before applying. Eligibility like income requirement, age, and credit score you have to know.

3. Collect Documents: Gather your documents such as income details, KYC proof, residential proof, and any other specific documents if lender needs.

4. Digital Loan Apply: Now come to the fourth stage which is a loan application. You may visit the lender’s website or apply from the “Apply Now” button.

5. E-KYC Process: Complete your e-KYC process using Aadhar authentication which is done by Aadhaar OTP verify.

6. Approval Loan Amount: Once the verification process is complete, the loan will be approved if you are eligible as per lender eligibility.

7. Loan Disburse: Complete the E-mandate / E-Nach process for loan disbursement to the applicant’s bank account. The maximum time is 48 hours to complete disburse process.

Check Tips for a 50,000 Loan Using Aadhar

Compare Lenders: Check and compare lenders for lower interest and repayment terms that will benefit to borrower.

Repayment Capacity: Aware of the repayment loan amount. If you don’t pay the EMI amount, impacts your credit score. Also, additional charges will add like bounce charges.

Borrower Responsibly: Borrow loan that is a requirement. It will be affordable to repay the loan comfortably.

Maintain Credit Score: Your timely repayment builds creditworthiness that maintains your credit score.

FAQs on 50,000 Loan Using Aadhar