In a move that will benefit millions of account holders, the government has decided to allow people to take loans up to Rs 50000 on Aadhaar card. This will enable people to access credit easily and at reasonable rates.
What is an Aadhar Card?
An Aadhar card is a unique 12-digit identification number issued by the Indian government. It contains personal information such as your name, date of birth, address, and biometric data. The Aadhar card is linked to your bank account and allows you to receive government benefits and subsidies.
The Aadhar card can be used as valid proof of identity and address for availing various services like opening a bank account, getting a mobile phone connection, etc. It can also be used for taking a loan.
Aadhar Card Loan 50000
50000 loan on Aadhar card is an unsecured loan that can be availed by Indian citizens who have a valid aadhar card. The loan amount can be used for any personal purpose such as weddings, travel, home renovation, etc. The interest rate on personal loans on aadhar card is lower as compared to other unsecured loans. The repayment tenure for a personal loan on aadhar card is also flexible and can be ranging from 12 to 60 months.
Benefits of 50000 Loan On Aadhar Card
- There are many benefits of getting a 50000 Loan on Aadhar Card. One of the biggest benefits is that you can get a loan without any collateral. This means that you do not have to put up your house or car as security for the loan. This makes it much easier to get a loan, especially if you do not have a lot of assets.
- Another benefit of getting a Loan on Aadhar Card is that the interest rate is usually lower than other types of loans. This can save you a lot of money over the life of the loan.
- Getting a 50000 Loan on Aadhar Card can also help you build your credit history. If you make your payments on time, it will help to improve your credit score. This can make it easier to get loans in the future.
- Overall, there are many benefits of getting a 50000 Loan on Aadhar Card. It can be a great way to get the money you need without having to put up collateral. It can also help you save money on interest and build your credit history.
Interest Rates for 50000 Loan On Aadhar Card
The interest rate for 50,000 Loan On an Aadhar Card is decided by the lending institution. However, Interest rates can range from 10% p.a. to 24% p.a.
The interest rate on your loan will also depend on the amount you borrow and the repayment period. The longer you take to repay your loan, the higher the interest rate will be. Therefore, it is always best to try and repay your loan as quickly as possible.
Who can apply for a 50000 Loan On Aadhar Card?
To be eligible for an Aadhaar Card Loan of 50000, you must:
- Be an Indian citizen
- Be above the age of 20 years
- Have a valid Aadhaar card
- Salaried & Self-employee
Documents To Be Submitted for 50000 Loan On Aadhar Card
To get a 50000 Loan On Aadhar Card, you will need to submit the following documents:
- Your Aadhar card
- PAN Card
- Proof of income (such as a pay stub or bank statement)
- Proof of residency (such as a utility bill or Lease agreement)
How to get a 50,000 Loan on Aadhar Card
If you are looking for a 50,000 loan on Aadhar card, there are a few things that you need to know. First of all, the government does not offer any loans on Aadhar cards. However, there are some instant loan apps that may be willing to give you a loan if you use your Aadhar card as collateral.
- The first thing that you need to do is to find an instant loan app that offers loans on Aadhar cards. There are many different companies that offer this service, so you should have no trouble finding one. Once you have found a company, you must fill out an application form.
- On the application form, you will need to provide some personal information such as your name, address, and phone number. You will also need to provide your Aadhar card number. After you have submitted the form, the company will review your application and decide whether or not they are willing to give you a loan.
- If the company approves your loan, they will transfer the money into your bank account within a few days. The interest rate on these loans is usually quite high, so you should only take out a loan if you are sure you can repay it on time.
List of Instant Loan Apps giving 50,000 Loan on Aadhar Card
Here is the list of instant loan apps that give 50,000 loan on Aadhar card:
| S No. | Application Name | Interest Rate | Tenure | Processing Fees |
| 1 | Money View | Start from 1.33% per month | Up to 5 years | Up to 8% of the loan amount |
| 2 | Nira | 24% to 30% p.a. | 3 to 12 months | up to 2% of the loan amount |
| 3 | PaySense | starting at 1.4% per month | 90 days to 540 days | Up to 3% of loan amount |
| 4 | Buddy Loan | 11.99% p.a. onwards | Up to 5 years | Up to 2% + GST |
| 5 | Dhani | Starting 13.99% p.a. | 3 months to 2 years | 3% of loan amount |
| 6 | KreditBee | Starting 13.99% p.a. | 3 months to 2 years | 3% of the loan amount |
| 7 | India Lends | starting 10.25% | 12 to 60 months | 1-4% of the loan amount |
| 8 | Navi | starting 9.9% p.a. | Up to 6 years | 1-4% of the loan amount |
| 9 | Home Credit | starting 2% per month | 6 to 48 months | up to 5% |
| 10 | CASHe | starting 2.25% per month | 90 days to 540 days | Up to 3% of the loan amount |
How to Use the EMI Calculator for an Aadhar Card Loan
The EMI calculator for an Aadhar Card Loan is a handy tool. It can help you calculate your monthly payments and see how much interest you will be paying on your loan.
To use the calculator, you will need to enter some information about your loan. This includes the loan amount, the interest rate, and the repayment period. Once you have entered this information, the calculator will give you an estimate of your monthly payments and the total amount of interest you will be paying.
The EMI calculator is a great way to compare different loans and find the one that is right for you. It is important to remember that the calculator is only an estimate. Your actual monthly payments may be different.
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FAQs
Q. How do I apply for a 50000 loan on Aadhar card?
Ans. You can apply for a 50000 loan on Aadhar card by visiting the website of any bank or financial institution that offers this facility.
Q. How long does it take to get approved for a 50000 loan on my Aadhaar card?
Ans. The approval process for a 50000 loan on your Aadhaar card may vary from lender to lender. However, most lenders will approve your loan within 24 hours of receiving your application.
Q. How much interest do I have to pay on a 50000 loan on Aadhaar card?
Ans. The interest rate on a 50000 loan on your Aadhaar card will vary from lender to lender. However, Interest rates can range from 10% p.a. to 24% p.a.
Q. What are the eligibility criteria for a 50000 loan on Aadhar card
Ans. The eligibility criteria for a 50000 loan on Aadhar card vary from bank to bank. However, most banks require you to be at least 18 years old and have a regular income.
Q. What is the repayment period for a 50000 loan on Aadhar card?
Ans. The repayment period for a 50000 loan on Aadhar card is usually between 12 and 60.
Conclusion
The Aadhar card loan 50000 is a great way to get the money you need for your next project. With an interest rate of only 9.99% and a repayment period of up to 60 months, this loan is an affordable option for anyone who needs a little extra financial help. The features and benefits of this loan make it a great choice for anyone who is looking for an easy and convenient way to get the money they need.
