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In today's digital world, keeping your important papers safe and organised is really important. This is especially true when you're applying for something like a personal loan. DigiLocker is a smart online tool that lets you store, manage, and share your documents safely from anywhere. In this guide, we'll show you how to use DigiLocker the right way, especially when you're applying for a personal loan from Bajaj Finance.
Did you know you might already have a pre-approved personal loan offer waiting for you? You can check your offer quickly and easily without visiting a branch.
✅ Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.
What is DigiLocker— Definition and overview
DigiLocker is an innovative initiative by the Government of India that provides a secure online space to store important documents and certificates. Rather than keeping physical papers at home, which can be lost or damaged, DigiLocker lets you safely store all your essential documents in one reliable digital location.
You can save many different types of documents in DigiLocker, such as your Aadhaar card, PAN card, driving licence, vehicle registration certificate, educational degrees, and much more. The best part? It's free to use and gives you 1 GB of storage space to keep all your documents safe. If you haven't already done so, download the DigiLocker app on your phone to get started.
How to use DigiLocker?
Using DigiLocker is straightforward and doesn't take much time. Here are the simple steps you need to follow:
Step 1: Create your DigiLocker account
First, go to the DigiLocker website or download the DigiLocker app from the Play Store (for Android) or App Store (for iPhone). Once you're there, click on the sign-up option. You'll need to enter your mobile number. Within a few seconds, you'll get a special code (called an OTP) sent to your phone. Type this code in to confirm your number is real.
Step 2: Link your Aadhaar card
After you've made your account, you need to connect your Aadhaar card to it. This is a crucial step because banks and loan companies like Bajaj Finance will accept documents signed digitally from your Aadhaar. This makes the whole loan application much faster and simpler.
Step 3: Upload your documents
Now you can start adding your documents to DigiLocker. You can either scan them using a scanner or just take clear photos with your phone and upload your documents to DigiLocker. DigiLocker will keep all these files safe using special security technology. Since you get 1 GB of space, you can store quite a lot of important papers.
Step 4: Access and share whenever you need
Once your documents are uploaded, you can view them anytime and anywhere using the DigiLocker app or website. Whenever you need to show documents to someone (like Bajaj Finance), you can share them digitally without sending physical copies. It's quick, safe, and super convenient.
Documents you can save in DigiLocker
DigiLocker works with lots of different document types. Here's what you can store:
- Aadhaar card
- PAN card
- Driving licence
- Vehicle registration certificate
- Academic certificates and degrees
- Property documents
- Insurance policies
- Bank statements
- Income tax returns
The more documents you keep in DigiLocker, the easier it becomes to apply for loans, insurance, or any other financial product later on.
How to fetch issued documents in DigiLocker?
You can fetch issued documents in DigiLocker by logging in to your DigiLocker account and accessing documents issued by registered government departments and authorised organisations.
- Visit the DigiLocker website or open the DigiLocker app.
- Log in using your registered mobile number, Aadhaar details, or other available credentials.
- Go to the Issued Documents section and select the required document category.
- Choose the document you want to fetch and provide the required details, such as document number or verification information.
- Submit the details to retrieve the document in your DigiLocker account.
Fetched documents are digitally verified, stored securely, and can be accessed or shared whenever required.
Benefits of using DigiLocker
The key advantage of using DigiLocker is that it provides a secure digital platform to store, access, and manage important documents without carrying physical copies.
- Offers secure digital storage for documents such as Aadhaar, driving licence, and certificates.
- Allows anytime access to saved documents through a mobile app or website.
- Supports paperless document management by reducing dependence on physical records.
- Enables easy sharing of digitally issued documents with authorised organisations.
- Provides access to digitally verified documents issued by registered departments and institutions.
- Reduces the risk of losing important documents by keeping them stored securely online.
DigiLocker helps users manage their documents conveniently while ensuring quick access whenever required.
How DigiLocker is useful while applying for a Bajaj Finance Personal Loan
When you apply for a personal loan, the lender (like Bajaj Finance) needs to check certain papers to make sure you're eligible and trustworthy. This is called KYC (Know Your Customer) verification. DigiLocker makes this whole process much smoother in several ways:
It's really convenient
Instead of printing out your documents and carrying them to a branch or posting them by mail, you can simply share them digitally from your DigiLocker account. This saves you time, effort, and money on printing and postage. Everything happens online.
Your documents stay safe and secure
DigiLocker uses special technology to protect your documents. They're encrypted (which means they're scrambled in a way only you and the lender can read) and digitally signed. This means there's almost no chance of someone tampering with your documents or committing fraud. You get peace of mind knowing your papers are safe.
The bank can verify your documents quickly
The lender can check your documents faster when they come from DigiLocker because of the built-in verification system. This speeds up the whole loan approval process. Instead of waiting days, you could get approval much sooner.
You can meet all the requirements easily
To get a personal loan, you need to match certain criteria like age, income level, employment type, and credit history. DigiLocker helps you submit all your required documents smoothly, making it simple to show the lender that you meet all the eligibility requirements.
Ready to move forward? You can check if you're eligible for a personal loan from Bajaj Finance without visiting a branch. Check your eligibility with just 2 steps.
Why get a personal loan from Bajaj Finance?
Now that you know how DigiLocker can make your loan application easier, let's talk about why Bajaj Finance is a great choice for your personal loan:
High loan amounts
Whether you need money for something big or something small, Bajaj Finance can help. You can borrow funds ranging from Rs. 40,000 to Rs. 55 lakh, so you have the flexibility to cover any expense. Whether it's a wedding, education, home renovation, or debt consolidation, you've got options.
Pre-approved offers
You can check if you have a pre-approved loan offer with just your phone number and OTP – no need to visit the branch.
No collateral or guarantor needed
You don't need to pledge any security like gold ornaments, property, or house documents. You also don't need someone else to guarantee the loan for you. This makes the whole process simpler and faster because you're not tying up valuable assets.
Get money in your account within 24 hours*
Our application process is designed to be fast and easy. In many cases, you can receive the loan amount in your bank account the same day your loan is approved. This is because everything is done online, and there's no need to visit a branch in person.
Steps to create a DigiLocker account
Creating a DigiLocker account allows users to securely store and access digital documents online. The use of DigiLocker makes document management easier by providing a central platform for storing verified documents and accessing them whenever required. Follow these steps to create your account:
- Visit the DigiLocker website or open the DigiLocker app to begin the registration process.
- Select the “Sign Up” or “Register” option available on the homepage.
- Enter your mobile number and ensure it is active, as an OTP will be sent for verification.
- Verify your mobile number by entering the OTP received on your registered mobile number.
- Create your username and password using a secure combination of characters for account protection.
- Provide your basic details such as name, date of birth, and email address as required during registration.
- Accept the terms and conditions after reviewing the DigiLocker usage guidelines.
- Complete additional verification, if required, by following the instructions provided on the platform.
- Activate and access your account by logging in with your registered credentials after successful registration.
Once your DigiLocker account is created, you can upload, fetch, and share documents digitally. For more details on identity verification, refer to the DigiLocker KYC process article to understand the additional steps involved.
Key offerings: 3 loan types
Personal loan interest rate and applicable charges
Type of fee | Applicable charges |
Rate of interest per annum | 10% to 30% p.a. |
Processing fees | Up to 3.93% of the loan amount (inclusive of applicable taxes). |
Flexi Facility Charge | Term Loan – Not applicable Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes) |
Bounce charges | Rs. 700 to Rs. 1,200/- per bounce “Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason. |
Part-prepayment charges | Full Pre-payment:
Part Pre-payment
|
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 (Dropline) Loan: Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.
Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure |
| Credit guarantee scheme fee | Up to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount |
| Credit guarantee scheme renewal fee | Up to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year. *Renewal Fee to be collected only for 3 subsequent financial years. **If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated. |
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Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000