How to Apply for a Rs. 2 lakh Loan on Aadhaar Card

Applying for a Rs. 2 lakh loan on an Aadhaar card has become an efficient and convenient process. With your Aadhaar card as the key identification document, you can quickly access personal loans without the hassle of extensive paperwork. Whether you need funds for medical emergencies, education, home renovation, or other personal needs, this loan can provide you with the necessary financial support. With a Bajaj Finserv Personal Loan, you can apply using your Aadhaar card and a few other documents. In this article, we will cover the benefits, eligibility, and process for applying for a Rs. 2 lakh loan.

Benefits of Rs. 2 lakh loan on Aadhaar Card

Applying for a Rs. 2 lakh loan on an Aadhaar card comes with several benefits that make the process smooth and stress-free. Here are some key advantages:

1. Minimal paperwork

The Aadhaar card serves as a primary form of identification, significantly reducing the need for multiple documents. With Bajaj Finserv Personal Loan, you can apply for funds of up to Rs. 55 lakh with minimal documentation.

2. Collateral-free loans

You do not need to pledge any assets or security to obtain a personal loan. This makes it accessible to many individuals who may not have collateral to offer.

4. Flexible repayment tenure

Lenders provide options for flexible repayment terms, allowing you to choose the tenure that best suits your financial situation. With a Bajaj Finserv Personal Loan, you can choose a repayment tenure ranging from 12 months to 96 months.

5. Fast disbursal

Since the process is streamlined, loan approvals and disbursals are faster compared to traditional loan methods. Some lenders offer approval within 24-48 hours. With a Bajaj Finserv Personal Loan, you can get the funds you need within as little as 24 hours*.

Eligibility criteria for Rs. 2 lakh loan on Aadhaar Card

To apply for a Rs. 2 lakh loan on an Aadhaar card, applicants must meet certain eligibility criteria depending on the lender. For a Bajaj Finserv Personal Loan, here are the eligibility criteria required:

1. Nationality: India

2. Age: 21 years to 80 years*.

3. Employed with: Public, private, or MNC.

4. CIBIL Score: 685 or higher.

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

Additionally, you will be required to submit the below documents when you apply for the Bajaj Finserv Personal Loan:

1. KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register

2. PAN card

3. Employee ID card

4. Salary slips of the last 3 months

5. Bank account statements of the previous 3 months

Interest rates and other charges for Rs. 2 lakh loan on Aadhaar Card

The interest rates for a personal loan of Rs. 2 lakh can vary based on the lender and your credit profile. It is important to understand the applicable charges before applying for a loan. Read about the fees and charges required for a personal loan from Bajaj Finance.

Personal Loan EMI calculation for a Rs. 2 lakh loan

Calculating your EMI in advance helps you plan your finances better. For instance, for a Rs. 2 lakh loan on Aadhaar card at an interest rate of 12% with a tenure of 3 years, your EMI would be approximately Rs. 6,650 per month.

Using a personal loan EMI calculator allows you to see how various factors like loan tenure and interest rates affect your monthly payments. It helps you choose an EMI that fits comfortably within your monthly budget.

How to apply for a Rs. 2 lakh loan on an Aadhaar Card?

The process to apply for a Rs. 2 lakh loan on an Aadhaar card is simple and quick. Follow these steps to apply for a Bajaj Finserv Personal Loan:

1. Click on ‘APPLY’ on this page to open our online personal loan application form.

2. Enter your 10-digit mobile number and the OTP sent to your phone.

3. Fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.

4. Now, click on ‘PROCEED’ to visit the loan selection page.

5. Enter the loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.

6. Choose the repayment tenure and click on ‘PROCEED’.

7. Complete yourKYCand submit your application.


Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents.

Conclusion

A Rs. 2 lakh loan on an Aadhaar card is an excellent option for individuals seeking quick and hassle-free financing. With benefits like minimal documentation, fast disbursal, and flexible repayment terms, this loan can cater to a variety of personal needs. Whether you are planning a wedding, covering medical expenses, or funding a vacation, this personal loan provides financial flexibility. Be sure to review the interest rates and repayment options carefully to select the most suitable loan for your requirements. Using an EMI calculator is a smart way to plan your repayments and ensure that the loan fits comfortably within your budget.

*Terms and conditions apply.