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The Aadhaar is a 12-digit unique identification number issued by the Unique Identification Authority of India (UIDAI) through biometric profiling of an Indian resident. It serves as a basis for Know Your Customer (KYC) norms in banks and financial institutions, telecom services, and a host of other institutions - for finacial transactions such as applying for a personal loan. It is, therefore, essential for every Indian to have an Aadhaar card.
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Ten unknown facts about Aadhaar card
- Only Indian citizens can have an Aadhaar number or UID. Overseas Citizens of India (OCI) or Non-Resident Indians (NRIs) are not eligible for an Aadhaar card.
- An Indian citizen can enrol for Aadhaar at any age. This means infants and the elderly can have an Aadhaar number too. Children below the age of 5, with a valid Aadhaar card, will have to renew their Aadhaar card once they complete 5 years, with updated biometric details (fingerprint scan and iris). Else, the ‘Baal Aadhaar’ issued earlier becomes invalid.
An Indian citizen can apply for Aadhaar by submitting a valid proof of address, identity and undergoing biometric profiling.
Additional read: Can you use your E-Aadhaar card as proof of identity?
- Those with ill-defined fingerprints or missing biometrics can also enrol for Aadhaar.
- There are provisions for those with eye ailments, including partial or complete blindness, to enrol for Aadhaar.
- A family member, who may not have individual valid documents, can also enrol for Aadhaar.
- Aadhaar is mandatory for several significant transactions, such as opening a bank account, investing in government-linked schemes filing income tax returns, applying PAN card and passport, and an Employee Provident Fund account. Students, too, can apply for central scholarships by providing their Aadhaar numbers.
- The UIDAI has cautioned against sharing Aadhaar details without any valid reason to avoid misuse.
Aadhaar cardholders can download a digital copy of their Aadhaar card from the UIDAI website. If you are downloading your Aadhaar at a public machine, make sure you delete the document and your browsing history before you log out. This is essential to prevent misuse of your Aadhaar.
Additional read: A guide to help you understand your E-Aadhaar card better
- As an Aadhaar holder, you can also use several online tools such as checking Aadhaar enrolment status, updating an address on your Aadhaar card, receiving your Aadhaar number on your registered mobile number, and locking or unlocking biometric details associated with your Aadhaar.
Conclusion
The Aadhaar is an attempt to have a single unique identification document to benefit Indian citizens in many ways, including the easy transmission of Government-led subsidies. Unlocking its potential while protecting it at all times can bring you a host of benefits.
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 |
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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*.
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