Rs. 20000 Personal Loan On Aadhaar Card

Rs. 20000 Personal Loan On Aadhaar Card

Check your eligibility for personal loan in just 2 steps and apply online with minimal paperwork.

Rs. 40000 - Rs. 55 lakh

You may be eligible for a pre-approved offer

Enter mobile and OTP | Check offer | Apply online

In today's fast-paced world, financial emergencies can arise at any moment without warning, disrupting your plans and creating stress. Having quick access to funds is absolutely essential, and one of the most convenient ways to secure a small personal loan is by using your Aadhaar card as a primary identity document for the application process.


✅ Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Minimal documents required
 

A personal loan of Rs. 20,000 on an Aadhaar card offers a swift and efficient solution to urgent monetary needs, leveraging a document that is already widely used and accepted for identity verification across India. This loan amount is perfect for handling small emergencies, medical bills, home repairs, education expenses, or other immediate financial requirements.


Why this matters: Rs. 20,000 provides meaningful financial support for smaller expenses while keeping EMIs very affordable, making it accessible to a broader range of borrowers and perfect for first-time loan applicants.
 

This comprehensive article explores the features, significant benefits, eligibility criteria, required documents, and the complete step-by-step process of obtaining a personal loan of Rs. 20,000 using your Aadhaar card as the primary identity verification document.


Note: With a Bajaj Finserv Personal Loan, you can apply for funds ranging from Rs. 40000 to Rs. 55 lakh.

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Features and benefits of an instant personal loan on Aadhaar card

Competitive interest rates

Personal loans for travel and other purposes often come with competitive interest rates compared to other borrowing options like credit cards or money lenders. Lower interest rates mean you can finance your needs more affordably, significantly reducing the overall cost of borrowing.

Why this helps: Competitive rates ensure that your Rs. 20,000 loan remains affordable throughout the repayment period, allowing you to manage other financial commitments without strain.


Immediate funding

One of the standout benefits of a personal loan is the remarkably quick disbursal of funds. Many lenders offer rapid processing times, allowing you to access the money almost immediately after approval, sometimes within hours of application submission. This speed is particularly beneficial when you need to make urgent arrangements, handle medical emergencies, or take advantage of time-sensitive opportunities that can't wait for lengthy approval processes.

Why this matters: Immediate funding means you can address emergencies or opportunities without delays that could worsen situations or cause missed chances.
 

Flexible loan amounts

Personal loans provide remarkable flexibility to borrow varying amounts based on your specific needs and repayment capacity. Whether you require a modest sum like Rs. 20,000 for small expenses or need to consider larger amounts for extensive requirements, you can customise the loan amount to fit your exact financial situation.

Local applications: Rs. 20,000 is perfect for medical consultations, home appliance repairs, educational fees, small travel plans, festival expenses, or emergency family needs.
 

No collateral required

Unlike secured loans, personal loans for various purposes do not require any collateral or security deposits. This means you don't have to pledge valuable assets such as your home, car, gold, or fixed deposits, making it a completely risk-free option for borrowers who want to protect their possessions.


Simple personal loan application process

The personal loan application process is remarkably straightforward and hassle-free, designed for maximum convenience. With minimal documentation requirements and an easy, user-friendly application process, securing a loan is convenient and significantly less time-consuming than traditional banking procedures.

Time-saving advantage: Most applicants can complete the entire application process in less than 15 minutes, making it perfect for busy individuals who need quick financial solutions.

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Eligibility to avail Rs. 20,000 loan with Aadhaar card

You can easily get the funds you need with the below criteria:

  • Eligibility criteria

    • Nationality: Indian
    • Age: 21 years to 80 years.
    • Employed with: Public, private, or MNC.
    • CIBIL Score: 685 or higher.
    • Customer profile: Self-employed or Salaried

    *You should be 80 years or younger, at the end of the loan tenure.

  • Documents required

    • KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
    • PAN card
    • Employee ID card
    • Salary slips of the last 3 months
    • Bank account statements of the previous 3 months
    • Piped gas bill
    • Pension order
    • Letter of Allotment of Accommodation Issued by Employer
    • Property / Municipal tax receipt
    • Utility bill
    • Phone bill
    • Real-time image / photograph
    • Ration card

    Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 

Interest rates and charges for Rs. 20,000 Aadhaar card loan

Interest rates on personal loan secured using Aadhaar cards are generally competitive and attractive compared to alternative borrowing options. Rates can vary depending on several factors including your credit score, chosen loan term, employment type, and the lender's current policies and market conditions.


Additionally, lenders may charge reasonable processing fees, which are usually a small percentage of the loan amount. It's essential to carefully review the lender's complete terms and conditions to understand all applicable charges and make informed borrowing decisions.
 

Why transparency matters: Understanding all costs upfront helps you budget accurately and choose the most cost-effective loan option available for your Rs. 20,000 requirement.


How is EMI calculated on a Rs. 20,000 loan

Equated Monthly Instalments (EMIs) for a Rs. 20,000 loan are calculated based on three key factors: the principal amount, interest rate, and loan tenure. Understanding this calculation helps you plan your budget effectively and choose the right repayment terms.
 

The EMI amount can be determined using the standard mathematical formula:
 

EMI = [P × r × (1+r)^n] / [(1+r)^n - 1]

Where:

  • P = Principal amount (Rs. 20,000)
  • r = Monthly interest rate (annual rate divided by 12)
  • n = Number of monthly instalments (loan tenure in months)
     

Sample EMI calculations for Rs. 20,000 loan:

TenureInterest RateMonthly EMITotal InterestTotal Amount
12 months12% p.a.Rs. 1,776Rs. 1,312Rs. 21,312
24 months12% p.a.Rs. 941Rs. 2,584Rs. 22,584
36 months12% p.a.Rs. 664Rs. 3,904Rs. 23,904


Why this comparison helps: Different tenure options allow you to balance between affordable monthly payments and total interest costs, helping you choose the most suitable repayment plan for your financial situation.
 

Pro tip: For a Rs. 20,000 loan, shorter tenures keep total interest costs very reasonable while longer tenures provide maximum affordability for monthly budgets.

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How to apply for an instant Rs. 20,000 personal loan on Aadhaar card

  • Step-by-step guide to apply for a personal loan

    Ensure you meet the personal loan eligibility criteria set by the lender using our quick online assessment tool.


    • Click on ‘CHECK ELIGIBILITY’ on this page.
    • Enter your 10-digit mobile number and the OTP sent to your phone.
    • Check if you have an offer. If not, fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
    • Now, click on ‘PROCEED’ to visit the loan selection page.
    • Enter the offer or loan amount that you need. Choose from our personal loan variants.
    • Choose the repayment tenure and click on ‘PROCEED’.
    • Complete your KYC and submit your application.

    Our representative will contact you for further steps.

Securing a Rs. 20,000 personal loan using your Aadhaar card is a straightforward and efficient way to address immediate financial needs without complications or lengthy procedures. The process is specifically designed to be quick, convenient, and accessible, with minimal documentation requirements and competitive interest rates that make borrowing affordable.
 

By understanding the comprehensive features, significant benefits, straightforward eligibility criteria, and simple application process, you can make informed decisions and access the funds you need with complete ease and confidence.
 

Whether you're handling small emergencies, pursuing opportunities, or managing planned expenses, a Rs. 20,000 personal loan provides the perfect balance of meaningful financial support and affordable repayments. The digital application process, combined with Aadhaar-based verification, ensures you get funds precisely when you need them with minimal hassle.
 

Take control of your smaller financial needs today with a loan designed to provide accessible support while maintaining complete affordability and convenience. Apply for a personal loan and experience the ease of digital lending with trusted financial partners.

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Key offerings: 3 loan types

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of Interest per annum

10% to 31% p.a.

Processing fees

Up to 3.93% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)

  • Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000
  • Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999
  • Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999
  • Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 9,99,999
  • Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999
  • Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999
  • Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999
  • Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999
  • Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above

*All the Flexi facility charges above are inclusive of applicable taxes

*Loan amount includes approved loan amount, insurance premium, and VAS charges.

Principal Holiday Facility Fees
  • Up to Rs.1999/- for loan amount less than Rs.2,00,000
  • Up to Rs.3999/- for loan amount from Rs. 200000 to Rs.399999
  • Up to Rs.5999/- for loan amount from Rs. 400000 to Rs.599999
  • Up to Rs.7,999/- for loan amount from Rs. 600000 to Rs.999999
  • Up to Rs.8,999/- for loan amount from Rs.10,00,000 to Rs. 1499999
  • Up to Rs. 9999/- for loan amount from Rs. 15,00,000 to Rs.19,99999
  • Up to Rs.10,999/- for loan amount from RS. 20,00,000 to RS.2499999
  • Up to Rs.11,999/- for loan amount from RS.25,00,000 to RS. 29,99999
  • Up to Rs. 12,999/- for loan amount of Rs.30,00,000 and above

Above charges are inclusive of applicable taxes & will be deducted upfront from loan amount

*(Loan amount includes approved loan amount, Insurance Premium & VAS Charges)

Bounce charges

Up to Rs. 1,200 per bounce.
“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason

Pre-payment charges

Full pre-payment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part pre-payment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part pre-payment.
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid.

*Foreclosure will be processed post clearance of first EMI

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure.

Broken period interest / Pre-monthly Instalment interest

Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows:


EMI Date : 2nd

Scenario 1: If Loan is disbursed on 1st or post 10th of the month:

For Term Loan: BPI amount will be capitalised, i.e added to Principal amount on Due date / Deducted from disbursement
For Flexi Loans: BPI amount will be capitalised, i.e added to Principal amount on Due date / Added to first instalment

Scenario 2: If Loan is disbursed between 3rd and 10th of the month:
First instalment will consist of interest for actual number of days

Note: Additional cess if any, will be applicable to all charges according to state law.

*Terms and conditions apply.

Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.