In today's digital age, managing important documents efficiently is crucial, especially when applying for financial services like personal loans. DigiLocker offers a convenient solution for individuals to store, manage, and share their documents securely online. In this article, we'll explore how you can utilise DigiLocker effectively, particularly when applying for a personal loan from Bajaj Finance.
What is DigiLocker
DigiLocker is an initiative by the Government of India that provides a digital platform for citizens to store, access, and share various documents and certificates electronically. It offers a secure and convenient way to store essential documents such as Aadhaar card, PAN card, driving license, vehicle registration certificate, academic certificates, and more.
How to use DigiLocker
Using DigiLocker is simple and user-friendly. Follow these steps to get started:
- Create DigiLocker Account: Visit the DigiLocker website or download the DigiLocker app from the Play Store/App Store. Sign up using your mobile number and authenticate it via OTP (One-Time Password).
- Link Aadhaar Card: Once registered, link your Aadhaar card to your DigiLocker account. This step is crucial as many organisations accept digitally signed Aadhaar documents for various services, including personal loan applications.
- Upload Documents: YYou can now upload your documents to your DigiLocker account. Scan or take photos of your important documents and upload them securely. DigiLocker provides 1 GB of storage space for each user.
- Access and Share: Once uploaded, you can access your documents anytime, anywhere using the DigiLocker app or website. You can also share these documents digitally with authorised agencies or individuals whenever required.
Documents you can save in DigiLocker
DigiLocker supports a wide range of documents, including but not limited to:
- Aadhaar card
- PAN card
- Driving license
- Vehicle registration certificate
- Academic certificates
- Property documents
- Insurance policies
- Bank statements
- Income tax returns
How DigiLocker is useful while applying for a Bajaj Finance Personal Loan
When applying for a personal loan, lenders typically require various KYC (Know Your Customer) documents to verify the applicant's identity and assess their eligibility. DigiLocker simplifies this process in the following ways:
- Convenience: Instead of submitting physical copies of documents, applicants can provide digitally signed copies from their DigiLocker account, saving time and effort.
- Security: DigiLocker ensures the security and integrity of documents through encryption and digital signatures, reducing the risk of document tampering or fraud.
- Verification: Lenders can easily verify the authenticity of documents provided through DigiLocker using the built-in verification mechanism, streamlining the loan approval process.
- Eligibility Criteria: To be eligible for a personal loan, applicants must meet certain criteria such as age, income, employment status, and credit history. DigiLocker facilitates the submission of required documents, helping applicants fulfill these eligibility criteria more efficiently. Read the eligibility criteria and documents required for a personal loan from Bajaj Finance.
Why get a personal loan from Bajaj Finance?
Below are a few benefits of getting a personal loan from Bajaj Finance:
- Loan up to Rs. 40 lakh: Get a high value loan to finance all your big and small expenses.
- No collateral or guarantor required: You are under no need to furnish any collateral, including gold ornaments, property documents, or guarantees.
- Money in your account within 24 hours: Depending on the situation, you can receive a credit to your bank account the same day your loan is granted thanks to our easy loan application process.
Steps to create a DigiLocker account.
Here is a step-by-step guide:
- Visit the DigiLocker website: Go to the official DigiLocker website, which is https://digilocker.gov.in/.
- Click on "Sign Up": Look for the "Sign Up" or "Register" option on the homepage and click on it. This will initiate the account creation process.
- Enter your mobile number: You will be prompted to enter your mobile number. Make sure to enter a valid mobile number as you'll receive an OTP (One Time Password) on this number for verification purposes.
- Enter the OTP: Once you've entered your mobile number, click on "Continue" or a similar option. You will receive an OTP on the mobile number you provided. Enter this OTP in the space provided to verify your mobile number.
- Set your username and password: After mobile number verification, you'll be asked to set up your username and password for your DigiLocker account. Make sure to choose a strong password that includes a combination of letters, numbers, and special characters for security purposes.
- Enter your basic details: Once you've set up your username and password, you'll need to provide some basic details such as your name, date of birth, and email address. Fill in these details accurately.
- Agree to the terms and conditions: Review the terms and conditions of DigiLocker carefully and if you agree, tick the box indicating your acceptance.
- Click on "Sign Up" or "Create Account”: After filling in all the required information and agreeing to the terms and conditions, click on the "Sign Up" or "Create Account" button to complete the registration process.
- Verification: In some cases, additional verification steps may be required, such as verifying your Aadhaar card details. Follow the prompts to complete any additional verification steps if necessary.
- Account Activation: Once you've completed all the steps, your DigiLocker account will be created. You can now log in to DigiLocker using the username and password you set up during the registration process.
Add additional guide - How to do KYC in DigiLocker
Conclusion
In conclusion, DigiLocker is a valuable tool for individuals seeking financial assistance, such as personal loans. By storing and sharing documents digitally, DigiLocker simplifies the documentation process and enhances the overall loan application experience. Embrace the digital revolution and make your loan application hassle-free with DigiLocker.
Apply for our personal loan today
