Digitalisation has brought the modern borrower plenty of benefits. Among these is the near-instant access to credit that new-age lenders offer. Today, you can get a completely online personal loan in just a few minutes without much paperwork. Thanks to digital verification processes, you can apply and upload your KYC information online. Lenders can process your loan with your Aadhaar information, so uploading it is often the only thing needed.
Your Aadhaar card serves as an ID, birth, and address proof, all of which are required by lenders. However, you may need to submit your PAN card or other income-related documents in some cases. This is mostly the case for new customers or those that do not have a prior relationship with the lender. Nonetheless, loan processing has come a long way and is no longer the time-consuming undertaking it once was. You can now access funds at competitive personal loan interest rates without hassles.
To know how to get an easy online personal loan with your Aadhaar information and other borrowing tips, read on.
How to avail an online personal loan with minimal documentation
Most leading lenders have a digital loan application provision which is key to enjoying the benefit of simple paperwork. Typically, you will have to log on to the lender’s website or the dedicated smartphone app to avail of this feature. On accessing the service on the applicable platform, follow these steps.
● Step 1. Fill the easy online application with:
o Personal data
o Employment information
o Financial data
● Step 2. Enter the loan details:
o Loan amount
o Preferred tenor
● Step 3. Await contact from an authorised representative
● Step 4. Submit a copy of your Aadhaar card
● Step 5. Await loan approval and disbursal
In some cases, you may be asked to upload other documents during application as well. This is at the discretion of the lender.
With a clear idea of what you need to do, you’re sure to get funds with ease. However, considering that an online personal loan is an unsecured offering, you must make the right decisions. You need not only plan but also consider a few key loan features. This way, you can be assured of a favourable and affordable experience, no matter the need. To that end, take a look at these borrowing tips to keep in mind.
Meet all the lender’s criteria
Since it is an unsecured loan, you will have to meet certain criteria to get approval. Generally, these are related to your:
● Age
● Employment status
● Annual income
● Citizenship
● Credit score
Check these requirements before you apply to ensure approval. Even though it is an online personal loan, lenders will reject applications that do not cut.
Plan the loan using digital tools
Before you apply, you should know the particulars of your desired loan. This includes the loan amount and the ideal tenor. Arriving at values for these components requires planning, which you can do with an EMI calculator. Most lenders offer a free personal loan interest calculator online, which is easy to use. Enter the desired values for the sanction, tenor, and enter the personal loan interest rate offered. The results will get generated automatically, and you can make adjustments accordingly.
Check for a pre-approved offer
The best way to get an online personal loan on Aadhaar card is to avail of a pre-approved offer. Here, lenders have already assessed your profile and have an offer ready for you. As such, you need only submit basic KYC details, which can be done with your Aadhaar card, and you get funds almost instantly.
Getting an online loan with your Aadhaar information is a quick and straightforward way to access the funds you need. A time-efficient solution that you can rely on for instant funding is the Bajaj Finserv Personal Loan. This loan has digital provisions and allows you to avail of funds with minimal paperwork. With a solid financial profile, you can get approval for an online personal loan of up to Rs. 25 lakh in just a few minutes.
What’s more, you can have the entire sanction disbursed to you within 24 hours of getting approved. You also get a competitive personal loan interest rate on a tenor that ranges up to 60 months. Bajaj Finserv leverages technology and delivers a seamless experience for your personal loan. Apply online to get started right away. For a truly hassle-free online personal loan, check your pre-approved offer by sharing basic details.
