Need ₹10,000 urgently? Your Aadhaar card can help you get it in minutes!
Yes, it’s possible. You don’t need to fill long forms or run around looking for a guarantor. With just your Aadhaar card, you can get a ₹10,000 loan quickly and easily, right from your phone.
Whether it’s a sudden medical bill, house repair, or any unexpected expense, this loan can come to your rescue. The process is simple, fast, and completely online. No need to visit a bank or wait for days.
In this article, we’ll explain how you can get a ₹10,000 loan on Aadhar card, who can apply, and what steps you need to follow.
If you’re looking for a quick money solution, keep reading – this could be just what you need!
How to Get ₹10000 Loan on Aadhar Card Online?
To apply for a quick ₹10000 loan on Aadhar card online, all you need to do is follow a few simple steps:
1. Choose a Reliable Lender
Start by researching financial institutions or lending apps that offer small personal loans. Compare interest rates, repayment terms, and fees. Additionally, ensure they support Aadhaar-based e-KYC and online applications.
2. Check Your Eligibility
Before applying, check the lender’s eligibility rules. Most require you to be 21+, have a steady income, and a good credit score to avoid rejection.
3. Gather Required Documents
While Aadhaar is the main document, lenders may also ask for your PAN, income proof, and bank details. If your Aadhaar is linked to your PAN and bank account, extra documents may not be needed, as verification happens automatically.
4. Fill Out the Online Application
Next, you will have to visit the lender’s official website or download their loan app. You must register using your mobile number and fill in your personal, employment and financial details. Upload the necessary documents and select the loan amount (₹10,000) and repayment tenure as per your preference.
5. Complete Aadhaar-Based eKYC
Once you’ve submitted the form, you’ll be asked to complete the KYC process. This is usually done via Aadhaar-based OTP verification. Make sure your Aadhaar is linked to your mobile number to complete this step smoothly.
6. Approval and Disbursal
After successful verification, your application is reviewed. If approved, the loan amount of ₹10,000 will be disbursed directly into your registered bank account, often within a few hours or by the next working day.
Who is Eligible for a ₹10000 Aadhaar Card Loan?
While applying for ₹10000 loan using your Aadhaar card is convenient, approval depends on whether you meet certain basic eligibility requirements. These criteria help lenders assess your repayment capacity and creditworthiness before disbursing the funds.
Here’s a breakdown of what most lenders look for:
- You must be at least 21 years old to apply.
- Lenders usually look for a minimum monthly income of ₹12,000 – ₹15,000 to ensure you have a stable repayment capacity.
- A healthy credit profile is a big plus. For this, you must have a CIBIL score of 750 or higher.
- Lenders often ask for proof of consistent employment, usually spanning 3 to 6 months.
- Some lenders may check your residential stability through utility bills, rent agreements, or similar documents to confirm your current address.
- Make sure your Aadhaar is linked to your active bank account as it speeds up verification and allows lenders to transfer the loan amount directly.
Benefits of ₹10000 loan on Aadhar card
A ₹10,000 loan backed by your Aadhaar card offers more than just fast access to funds; it brings along a range of convenient features that make the borrowing process simple, fast, and user-friendly.
Here are a few advantages of it:
1. Minimal Documentation
One of the biggest benefits is minimal paperwork. Your Aadhaar acts as both ID and address proof, so in most cases, you just need your Aadhaar, PAN, and basic income details.
2. Quick Approval & Fast Disbursal
The Aadhaar-based eKYC makes the verification process very easy. If all details are in order, loan approval and disbursal may be processed within hours, with the amount directly credited to your bank account.
3. 100% Online Application
You can apply for a ₹10000 loan on Aadhar card entirely online, either through a website or a mobile app. There’s no need to visit a branch or submit physical forms. From application to approval, everything can be done remotely, saving time and effort.
4. No Collateral Required
This is an unsecured loan, which means you don’t need to pledge any assets as security. Whether you’re salaried or self-employed, you can apply without risking your property or savings.
5. Flexible Usage
The loan amount can be used for any personal purpose, such as medical expenses, utility bills, travel, education fees, or to manage a temporary cash crunch. There are no restrictions on how you use the funds.
6. Wider Accessibility
Aadhaar-based loans are often accessible to a broad range of applicants, including first-time borrowers, individuals with limited credit histories, or those working in the informal sector, as long as the basic eligibility criteria are met.
EMI Calculation for ₹10,000 loan on Aadhar card
Understanding how much you’ll need to repay each month is essential before applying for any loan, even a small one like a loan of ₹10000 on aadhar card. Your monthly EMI depends on three key factors – Principal Amount (Loan Value), Interest Rate and Loan Tenure (in Months).
Following is the standard formula used to calculate EMI:
EMI = P × R × (1 + R)^N / [(1 + R)^N – 1]
Where:
P = Loan amount
R = Monthly interest rate (annual rate ÷ 12 ÷ 100)
N = Number of monthly instalments
Using this formula and adding your details, you can manually calculate your EMI.
However, manual calculations can be tricky, especially when dealing with power functions and large tenures. To avoid confusion and expedite the process, most lenders and financial websites such as LoanTap, offer free EMI calculator, which allows you to simply enter the loan amount, interest rate, and tenure to obtain an instant estimate.
Interest Rates & Charges for ₹10000 loan on Aadhar card online
When applying for a ₹10,000 loan using your Aadhaar card, don’t just look at the loan amount, but also check the total cost. This includes the interest rate plus extra fees like processing charges, prepayment or foreclosure fees, and late payment penalties.
Moreover, interest rates vary by lender, your credit score, and income. Comparing options and checking all charges will help you know the real cost before applying.
Conclusion
Who said getting a loan has to be difficult? As you’ve seen, with just your Aadhaar card, securing a ₹10,000 personal loan is no longer a lengthy or complicated process.
It’s fast, it’s easy, and most importantly, it puts you in control. Whether it’s for an unexpected expense or a personal need, you now know exactly how to get quick funds without stepping out of your home.
Just one thing – borrow wisely. Always review the terms, understand the repayment details, and ensure the loan truly meets your needs.
If you’re wondering where to start, platforms like LoanTap make the entire process simple and transparent, from checking your EMI to applying for the personal loan, all in a few easy steps.
Frequently Asked Questions
Can I get a ₹10000 loan on Aadhar card online without a salary?
Some lenders may allow it if you have other sources of income, like business earnings or pensions. However, many lenders prefer applicants with a regular monthly income.
Is it possible to apply for an Aadhar card loan ₹10000 if I have no credit history?
Yes, some lenders offer small loans to first-time borrowers with no credit history, although terms may differ.
How long does it usually take to receive the loan amount after approval?
In most cases, the loan amount is disbursed within 24 to 48 hours after approval.
Are Aadhar card ₹10000 loans safe to apply for online?
Yes, as long as you apply through trusted and verified financial institutions or apps.
What should I do if my loan application gets rejected despite meeting the criteria?
Check with the lender for the reason. It might be due to technical issues, errors in documentation, or hidden eligibility factors.
