In need of cash quickly? A medical bill, a broken phone or an unexpected visit to the doctor can occur anytime. In 2026, there won’t be a long bank line to stand in. If you want to avail a loan on your cell phone then you can utilize the Aadhar Card Loan Apps which is going to provide a loan to you in a few minutes. These applications are employed in order to perform quick identity checks (e-KYC) for Aadhaar. This will reduce paper and approval times.
However, there are numerous applications, and some are unsafe. Hence choosing the appropriate one is important. Here are 15 trusted Adhar Card Loan Apps that are available along with loan amount, interest rates and ratings. You’ll also discover who can apply, what documentation you require, how to utilize it step by step, and remain protected from fake apps. The language is easy to understand and you can make your decision.
What Is an Aadhaar Card Loan App?
Aadhaar card loan app is a mobile application which allows you to avail a personal loan with the help of your Aadhaar ID as the identity proof. Aadhar Card Loan Apps help you to get in touch with banks or NBFCs (non-banking finance companies) which lend the money. They do this in the following manner:
- Digital KYC: This is done by sending an OTP to your mobile number and verifying your Aadhaar with it. A face-to-face appointment is not necessary.
- No collateral: These do not require any collateral. You don’t store any gold, house or car as a bond.
- Quick approval: Based on your income, many apps will approve in minutes and your credit profile.
- Direct bank transfer: The funds will be transferred directly to your bank account.
- Small and medium loans: The amount of the loans can begin at ₹1,000 and extend to a few lakhs.
- Flexible repayment: Repay in EMIs for a few months or years.
Comparison Table: Top 15 Aadhar Card Loan Apps (2026)
| App Name | Loan Amount Range | Interest Rate (p.a.) | Processing Time | Min. CIBIL Score | RBI-Registered (Y/N) | Play Store Rating |
| Stashfin | Up to ₹5 Lakh | 0% – 36% | Minutes to 24 hrs | ~650+ | Y (via NBFC partner) | 4.6 |
| Moneyview | ₹5,000 – ₹10 Lakh | 14% onwards | Minutes to 24 hrs | ~600+ | Y (via NBFC partner) | 4.8 |
| KreditBee | ₹6,000 – ₹10 Lakh | 12% – 28.5% | Minutes to 24 hrs | ~650+ | Y (via NBFC partner) | 4.6 |
| Kissht | Up to ₹5 Lakh | 14% onwards | Minutes to 24 hrs | ~600+ | Y (via NBFC partner) | 4.6 |
| Fibe (EarlySalary) | ₹20,000 – ₹5 Lakh | 18% onwards | Minutes to 24 hrs | ~650+ | Y (via NBFC partner) | 4.5 |
| LazyPay | ₹3,000 – ₹5 Lakh | 12% – 36% | Minutes to 24 hrs | ~650+ | Y (via NBFC partner) | 4.4 |
| Navi Finserv | Up to ₹20 Lakh | Up to 26% | Minutes to 24 hrs | ~650+ | Y (NBFC) | 4.5 |
| Bajaj Finserv | Up to ₹15.5 Lakh | 16% – 31% | Minutes to 48 hrs | ~685+ | Y (NBFC) | 4.8 |
| Buddy Loan | ₹10,000 – ₹15 Lakh | 11.99% onwards | Minutes to 48 hrs | ~650+ | Y (via NBFC partner) | 4.5 |
| Olyv (SmartCoin) | ₹1,000 – ₹5 Lakh | 1.5% p.m. onwards | Minutes to 24 hrs | ~600+ | Y (via NBFC partner) | 4.6 |
| Freo (MoneyTap) | ₹3,000 – ₹5 Lakh | 12% – 36% | Minutes to 24 hrs | ~650+ | Y (via NBFC partner) | 4.2 |
| mPokket | ₹1,000 – ₹50,000 | 2% – 3.5% p.m. | Minutes to 24 hrs | Low or none | Y (via NBFC partner) | 4.6 |
| CASHe | ₹45,000 – ₹3 Lakh | 2.79% – 3% p.m. | Minutes to 24 hrs | ~650+ | Y (via NBFC partner) | 2.8 |
| Home Credit | ₹10,000 – ₹4.8 Lakh | 1.6% p.m. onwards | Minutes to 48 hrs | ~650+ | Y (NBFC) | 4.5 |
| True Balance | ₹5,000 – ₹2 Lakh | 2.4% p.m. onwards | Minutes to 24 hrs | ~600+ | Y (via NBFC partner) | 4.0 |
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Top 15 Aadhaar Card Loan Apps in India (2026)
1. Stashfin
Stashfin is an all-digital lending application which is accessed via your phone from start to finish. Just register by mobile number, undertake Aadhaar e-KYC with OTP and get the credit limit as per profile. Then, you can get your money back whenever you require it and only pay interest on the sum you use. This assists those who pay their bills from month to month. Eligible users can even benefit from short-term offers which begin at 0% interest rate. The tenure for repayment can be 3 months to 36 months, you can choose a convenient EMI. It can be used by either salaried or self-employed and offers a flexible loan with minimum documentation.
- Loan Amount Range: Up to ₹5 Lakh
- Interest Rate (p.a.): 0% – 36%
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 650+
- RBI-Registered (Y/N): Y (through its NBFC partner)
- Play Store Rating: 4.6
- App Link: https://play.google.com/store/apps/details?id=com.stashfin.android&hl=en_IN
Also Read: Best Loan Apps for Students
2. Moneyview
Moneyview is considered as one of the most popular loan apps in India, and has an excellent rating of 4.8 on Play Store. It offers loans of up to ₹10 lakh and repayment period of 3 to 60 months. The longer the repayment period the lower your EMI will be and this is advantageous if you already have other bills to pay. You can also get your credit score free with the application so you know what to anticipate before applying. Interest begins at 14 per cent a year for good profiles and you’ll be determined by your credit history and income. In case you don’t need such a large loan and don’t need a hefty monthly payment, check Moneyview.
- Loan Amount Range: ₹5,000 – ₹10 Lakh
- Interest Rate (p.a.): 14% onwards
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 600+
- RBI-Registered (Y/N): Y (through NBFC/bank partners)
- Play Store Rating: 4.8
- App Link: https://play.google.com/store/apps/details?id=com.whizdm.moneyview.loans&hl=en_IN&gl=IN
3. KreditBee
KreditBee is a favorite among the young earners and first time borrowers. It has both small repayments and large personal loans which can range from ₹6,000 and above up to ₹10 lakh. This range of interest, which is 12% to 28.5% per year, is clearly explained, meaning that you know what the likely interest is beforehand. It is easy to sign up and is quick as Aadhaar OTP is required to verify the OTP. The loan can be repaid within 6 months to 60 months, providing flexibility in choosing your EMI repayment.The loan period can be stretched from 6 months to 60 months, which allows flexibility to choose the EMI repayment. KreditBee is a good option for those who are just starting out and don’t have much credit history. Timely payments of EMIs can also help in the development of a good credit rating.
- Loan Amount Range: ₹6,000 – ₹10 Lakh
- Interest Rate (p.a.): 12% – 28.5%
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 650+
- RBI-Registered (Y/N): Y
- Play Store Rating: 4.6
- App Link: https://play.google.com/store/apps/details?id=com.kreditbee.android&hl=en&gl=DE
4. Kissht
Kissht is an instant personal loan lender, and also allows you to break the purchase into convenient EMIs. The loan amount is a hefty ₹5 lakh that can be repaid in as little as 3 months up to 60 months, a very large time period for such an application. Clean and easy to follow in design, it is suitable for those that prefer a simple step-by-step application. The rates begin at 14% annually, but they’re dependent on various factors, such as the kind of income you earn, your credit score and your history of repayments. The Aadhaar OTP verification ensures a fast process and also there is no need to go to any office. If you’re looking for a more flexible lease period and a seamless app experience, then Kissht is a good choice.
- Loan Amount Range: Up to ₹5 Lakh
- Interest Rate (p.a.): 14% onwards
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 600+
- RBI-Registered (Y/N): Y
- Play Store Rating: 4.6
- App Link: https://play.google.com/store/apps/details?id=com.fastbanking&hl=en_IN
5. Fibe (EarlySalary)
Fibe, earlier called EarlySalary, mainly serves salaried people. It gives loans from ₹20,000 up to ₹5 lakh, with 6 to 36 months to repay. The app verifies your salary particulars and details regarding your employer and, in most instances, approval is completed rapidly for people who have a steady job. It can come in handy if you have to pay bills, travel, rent, or cover some other planned expense and you don’t have enough funds to cover it with your paycheck. The interest rate is 18% per year, but will vary for different profiles. Since the minimum loan is ₹20,000, it is advisable for medium credit requirements, rather than for very small credit requirements. For those who have a steady monthly income, Fibe is a hassle-free and steady option.
- Loan Amount Range: ₹20,000 – ₹5 Lakh
- Interest Rate (p.a.): 18% onwards
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 650+
- RBI-Registered (Y/N): Y
- Play Store Rating: 4.5
- App Link: https://play.google.com/store/apps/details?id=com.earlysalary.android&hl=en_IN&gl=IN
6. LazyPay
LazyPay offers personal loans along with a “buy now, pay later” option, so you can use it for both big and small needs. The amount which you can borrow from is from ₹3,000 to ₹5 lakh and the payback period ranges from 3 months up to 24 months. The smooth and swift app along with Aadhaar-based verification saves time. The interest rates range from 12% to 36% yearly, which means that the rate you get will depend greatly on your credit profile. A good score could result in a lower rate for people. LazyPay is suitable for those who are searching for short-term loans as well as for individuals who wish to obtain more substantial loans. Never accept an offer before reading the amount the borrower will pay you back in total.
- Loan Amount Range: ₹3,000 – ₹5 Lakh
- Interest Rate (p.a.): 12% – 36%
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 650+
- RBI-Registered (Y/N): Y
- Play Store Rating: 4.4
- App Link: https://play.google.com/store/apps/details?id=com.citrus.citruspay&hl=en_IN
7. Navi Finserv
Navi is one of the highest loan amount providers on this list which can reach up to ₹20 lakh and pay back till 84 months or 7 years. Long repayment period will allow you to have a low EMI even if you have a large loan. The interest rate rises to 26% a year, which is less than maximum rates of some of the small-loan applications. The App is simple, clean, and easy to use; signs up to approval is easy to follow. Navi suits those requiring a lot of for a big event, like a wedding, home repair or medical treatment. This is a solid choice for a larger size, flexibility, and effective process.
- Loan Amount Range: Up to ₹20 Lakh
- Interest Rate (p.a.): Up to 26%
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 650+
- RBI-Registered (Y/N): Y (NBFC)
- Play Store Rating: 4.5
- App Link: https://play.google.com/store/apps/details?id=com.naviapp&hl=en_IN
8. Bajaj Finserv
Bajaj Finserv is a leading and reputed name in lending in India. The amount you can borrow is as high as ₹15.5 lakh, and you can pay it back within 6 to 63 months. This app has a rating of 4.8 in the Play Store, indicating that it has a high level of trust among users. The interest rate varies from 16% to 31 percent per year depending on the person’s profile. Requires a little extra documentation than a small app and the wait to be approved may be a little longer, but it is straightforward and well explained. The lender is a Non Banking Financial Company and as such you are dealing with a regulated company. Bajaj Finserv is a good choice if you are looking for a consistent lender and would like to avail a bigger loan amount.
- Loan Amount Range: Up to ₹15.5 Lakh
- Interest Rate (p.a.): 16% – 31%
- Processing Time: Minutes to 48 hours
- Min. CIBIL Score: About 685+
- RBI-Registered (Y/N): Y (NBFC)
- Play Store Rating: 4.8
- App Link: https://play.google.com/store/apps/details?id=org.altruist.BajajExperia&hl=en_IN
9. Buddy Loan
Buddy Loan offers a low starting interest rate of 11.99% a year, which is one of the lowest on this list. Loan tenures can be as long as 6 months to 5 years and the amount of loan can be as much as ₹15 lakh. The broad selection will allow you to pick the loan that suits you and your paycheck. The app has a good rating of 4.8 in the App Store, indicating that it appears to have a positive user experience. If you have a pretty good credit score and want your interest cost to be low, it’s a great option to go with. The rates are of course dependent on your income and your credit rating and as usual before taking an offer, make sure you read it carefully.
- Loan Amount Range: ₹10,000 – ₹15 Lakh
- Interest Rate (p.a.): 11.99% onwards
- Processing Time: Minutes to 48 hours
- Min. CIBIL Score: About 650+
- RBI-Registered (Y/N): Y
- Play Store Rating: 4.5
- App Link: https://play.google.com/store/apps/details?id=com.buddyloan.vls&hl=en_IN&gl=IN
10. Olyv (SmartCoin)
Olyv, the earlier named SmartCoin, lends small sums of money that start at as low as ₹1,000, and can reach as high as ₹5 lakh. Useful when you only need a small amount of cash for a brief period of time, like a bill, repair or minor emergency. The repayment period is 2 – 24 months. The interest rate begins at 1.5% per month (or approximately 18% per year). The app is so simple to use, and Aadhaar sign-up is also swift. It is advisable for minor and urgent demands, and in the case of an individual with a lower credit score. Monthly payments may seem quite small, but they all add up, so see how much you will pay back before taking out the loan.
- Loan Amount Range: ₹1,000 – ₹5 Lakh
- Interest Rate (p.a.): 1.5% per month onwards (about 18% a year)
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 600+
- RBI-Registered (Y/N): Y
- Play Store Rating: 4.6
- App Link: https://play.google.com/store/apps/details?id=in.rebase.app&gl=IN
11. Freo (MoneyTap)
Freo, formerly known as MoneyTap, provides a line of credit rather than a one-time loan. If you are approved, then you will only have to pay interest on the approved amount and not the maximum amount. This can be beneficial if your costs fluctuate a lot and you don’t wish to take out a substantial loan at one time. The loan amount can be taken from ₹3,000 to ₹5 lakh and the loan tenure can be opted for 3 to 36 months. Interest rates are between 12% and 36% per year and a high credit profile may result in lower interest. The flexible style is a good option for those that have varying monthly needs. Keep a record of the amount of withdrawals to keep interest costs under control.
- Loan Amount Range: ₹3,000 – ₹5 Lakh
- Interest Rate (p.a.): 12% – 36%
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 650+
- RBI-Registered (Y/N): Y
- Play Store Rating: 4.2
- App Link: https://play.google.com/store/apps/details?id=com.moneytap.bnpl.app&hl=en_IN
12. mPokket
mPokket is geared towards children and young earners who require small loans. You can borrow an amount between ₹10,000 and ₹50,000, which can be sufficient for your reading needs, for you to repair your cell phone or for a short-term requirement. It takes between 6 and 12 months to be repaid. The monthly interest rate is higher (from 2% to 3.5%) as the loans are small. The ease with which mPokket can be used by people with low or no credit history makes it a step towards building a credit history, as compared to many other apps. Only use it for small needs and pay it back quickly to keep costs to a minimum. Don’t take out more than one loan at a time.
- Loan Amount Range: ₹1,000 – ₹50,000
- Interest Rate (p.a.): 2% – 3.5% per month
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: Low or no score needed
- RBI-Registered (Y/N): Y
- Play Store Rating: 4.6
- App Link: https://play.google.com/store/apps/details?id=com.mpokket.app&hl=en_IN&gl=IN&pli=1
13. CASHe
CASHe is created for people with salaries and their earnings to determine their loan. It provides loan amount from ₹45,000 to ₹3 lakh with repayment tenure of 2 months to 18 months—this is very suitable for medium requirements with short repayment time. The monthly interest rate is 2.79% – 3% and that is a relatively high rate. It is rated at 2.8 on Play Store, but has a 4.3 rating on App Store. When it combines both positive and negative feedback, you have to be extra cautious. Re-read reviews, compare the overall price with other applications and make sure you know all the fees before you select it. In case you discover another offer that is less expensive, it could be the better choice.
- Loan Amount Range: ₹45,000 – ₹3 Lakh
- Interest Rate (p.a.): 2.79% – 3% per month
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 650+
- RBI-Registered (Y/N): Y
- Play Store Rating: 2.8
- App Link: https://play.google.com/store/apps/details?id=co.tslc.cashe.android&hl=en_IN
14. Home Credit
Home Credit offers personal loans that range from ₹10,000 to ₹4.8 lakh with a long term of repayment ranging from 9 months to 60 months. Longer term will allow for lower EMI’s, which will be easier on your monthly budget. The interest rate is 1.6% per month. The app has high ratings in both stores (4.5 in Play Store and 4.8 in App Store) and is easy to use, meaning that there is a high level of trust among users. It’s ideal for those who wish for a mid-sized loan with a decreased monthly payment. It may take a few minutes to 48 hours to process; if there is a deadline, apply a little early. Be sure to see the total cost before you sign.
- Loan Amount Range: ₹10,000 – ₹4.8 Lakh
- Interest Rate (p.a.): 1.6% per month onwards
- Processing Time: Minutes to 48 hours
- Min. CIBIL Score: About 650+
- RBI-Registered (Y/N): Y (NBFC)
- Play Store Rating: 4.5
- App Link: https://play.google.com/store/apps/details?id=com.portal.hcin&hl=en_IN
15. True Balance
True Balance provides mid-range loans with a repayment period of 6 months to 12 months and for ₹5,000 to ₹2 lakh. The interest rate is 2.4% monthly, which is suitable for short-duration loans as opposed to long-duration loans. The app is easy to use, and it’s ideal for people who are looking for a quick process with minimal paperwork. Aadhaar is used for verification, which helps in faster approvals. It does not have the best rating on this list, with 4.1 in the App Store and 4.0 in the Play Store. That’s why it’s important to read up on fresh reviews from the users before applying. Only borrow what you need, only repay on time and compare the total cost of the loan with other apps before you borrow.
- Loan Amount Range: ₹5,000 – ₹2 Lakh
- Interest Rate (p.a.): 2.4% per month onwards
- Processing Time: Minutes to 24 hours
- Min. CIBIL Score: About 600+
- RBI-Registered (Y/N): Yes
- Play Store Rating: 4.0
- App Link: https://play.google.com/store/apps/details?id=com.balancehero.truebalance&hl=en&gl=TW
Eligibility Criteria for Aadhaar Card Loans
If you are using any of the Aadhar Card Loan Apps, please ensure that you are following the basic guidelines:
- Age: The normal age is 21-58 years. There are apps available that give loans to individuals of age 18.
- Indian citizen: Must be an Indian citizen (and have a valid Aadhaar number).
- Steady income: You have to have a steady income, which means a salary or business income. Many apps want a minimum of ₹15,000 to ₹25,000 per month.
- Credit Score: Credit score of 650 or more implies that you will have a better likelihood of getting a lower interest rate and a great credit score.
- Active mobile number and bank account: Your mobile number should be registered with Aadhaar for receiving OTP and your bank account should be active for receiving money.
Documents Required (Beyond Aadhaar)
Aadhaar is not enough in a single instance. The majority of Aadhar Card Loan Apps also require the following information:
- PAN card: Needed for tax and credit checks. Just about every lender requires it.
- Income proof: Show recent salary slips or 3 – 6 months bank statements that you have the income to repay.
- Selfie or video KYC: It is done when you pose for a photo or video with the Aadhaar, validating your identity as the genuine bearer of the Aadhaar.
- Information about bank accounts: Account number and IFSC code to deposit the funds into your bank account.
- Upload proof of Address (if required): If the address mentioned in the Aadhaar is not the same as the current address, upload the rent agreement or utility bill.
How to Apply for a Loan Using Aadhaar Card (Step-by-Step)
The process of applying via Aadhar Card Loan Apps is quite easy. Follow these steps.
Step 1: Select App that’s safe: Select a safe app from a trusted list. Ensure that it is registered with an RBI-registered bank/institution/trust or NBFC. Check the interest rates and charges, as well as the latest reviews. Avoid choosing an app just because it states that you’ll receive “instant money without checks. Only download it from the Google Play Store or Apple App Store, and never from the link of an unfamiliar person.
Step 2: Register with a mobile number: Enter your Aadhaar-registered mobile number in the app. OTP will be received via SMS. You can enter it to create your account. Write numbers and their names in your own handwriting. Incorrect information may result in rejection in the future. Create a secure PIN or password and do not tell anyone.
Step 3: Fill Aadhaar e-KYC: Input Aadhaar number (12-digit). OTP will be sent to your Aadhaar-linked mobile. Type it in to confirm your identity. The app will be able to retrieve your name, date of birth and address. Make sure it’s all correct. The OTP is to be given only on the Official App screen. Do not tell the caller.
Step 4: Enter income and bank information: Enter your job type, monthly income and bank name. Submit PAN and income documentation, if requested. Connect your bank account, and submit a selfie as requested. The app then uses this to determine the amount that you can borrow. Be honest about details; otherwise, they can be rejected or get you into trouble in court.
Step 5: Select the loan and accept the offer: Here you will be able to see the EMI, interest rate, and fees for the loan you are looking for that is approved by the app. Adjust the number of years and amount to your liking. Carefully read all terms, including the Key Fact Statement. If you agree, take an OTP/e-sign. Don’t take out a loan that exceeds your monthly income.
Step 6: Get money and pay back promptly: You get the money in your bank account soon after you have been approved, typically within minutes to a day. Set up an ‘auto-pay’ or reminder for your EMI date. Timely payment of bills will help improve your credit rating and will make it easier to obtain better loans in the future. Failure to pay could mean that you are charged late fees and incur a credit score reduction.
Interest Rates & Charges Compared
There are other costs as well. While making comparisons of Aadhar Card Loan Apps, check for fees as well. The table below shows common charges. However, the precise amounts will depend on the lender, so check your loan contract.
| Charge Type | Typical Range | What It Means |
| Interest rate | 0% – 36% per year | The cost of borrowing money |
| Processing fee | About 1% – 8% of loan | One-time fee, often cut from the loan amount |
| Late payment fee | Fixed amount or % of EMI | Charged when you miss your due date |
| Foreclosure / prepayment fee | 0% – 5% of balance | Charged if you close the loan early |
| GST | 18% on fees | Tax added on processing and other fees |
| Bounce charges | Fixed amount | Charged when your auto-debit fails |
RBI Digital Lending Guidelines: How to Verify a Safe App
The Reserve Bank of India (RBI) has regulations to safeguard borrowers availing loans through digital lending apps. Before making a selection of any of the Aadhar Card Loan Apps, consider these checks:
- Check the lender’s name: A safe app clearly shows the name of the bank or NBFC that gives the loan. If no lender is named, stay away.
- Look for the Key Fact Statement (KFS): RBI rules require lenders to share a KFS with the full cost, APR, and fees before you sign.
- Money should flow directly: Your loan should come straight from the lender to your bank account, and you should repay directly to the lender. Do not pay any person’s personal account.
- Verify the NBFC on the RBI website: Search the NBFC’s name on the RBI’s official lists. Many apps also publish their NBFC certificate and grievance officer details.
- Check data permissions: Safe apps do not need access to your photos, contacts, or files. Be careful if an app asks for too much.
Aadhaar Loan Apps vs Bank Personal Loans
Not sure whether to use an application or a financial institution? This table helps. Aadhar Card Loan Apps run quicker than banks, and banks are cheaper.
| Feature | Aadhaar Loan Apps | Bank Personal Loans |
| Application | 100% on mobile | Mobile or branch visit |
| Approval speed | Minutes to 24 hours | 1 to 7 days |
| Paperwork | Very little | More documents |
| Loan amount | ₹1,000 – ₹25 Lakh | ₹50,000 – ₹40 Lakh |
| Interest rate | 0% – 36% per year (often higher) | Around 10% – 24% per year |
| CIBIL score needed | Flexible, low to medium | Usually 700+ |
| Best for | Urgent, small needs | Large, planned needs |
Risks & Safety Tips
Although it’s convenient, digital loans are a risk. Here are some safety tips to keep in mind while using Aadhar Card Loan Apps:
- Fake and illegal apps: Many unregistered apps trick people. Download from official stores and ensure RBI details of the lender. When you are installing apps, in the app store look at the developer’s name and reviews.
- Extremely high interest: A few apps will cost as much as 36% per year plus fees. Before accepting, read the total repayment amount so that you will know the total cost.
- Data misuse: Do not provide access to contacts, gallery to a stranger’s application. Some of the substandard applications use this harassment tactics for borrowers. Aadhaar details should only be provided in a trusted application and in case possible, use a masked Aadhaar.
- Damage to your credit score: When you miss EMIs, it takes a toll on your credit score as per the CIBIL. Only borrow what you can afford to pay back and ensure that it is set up to go straight through to your bank account.
Conclusion
The process of taking a loan is now simple with Aadhar Card Loan Apps. Money can be received in no time with the help of your smart phone, Aadhaar OTP and some documents. However, the fastest app isn’t always the best. It is the one that is safe, transparent as to fees and is within your repayment capacity.
Refer to the list, above, to compare rates, loan amount and ratings. Make sure the app is compatible with an RBI-regulated bank or NBFC, understand the Key Fact Statement and only borrow what you can afford. If you select wisely, the Aadhar Card Loan Apps can be a helpful tool and not a burden. Pay bills on time, establish a credit history and future loans will be cheaper and easier. Be vigilant, be informed and borrow wisely.
Also Read: Bad CIBIL Loan App List
FAQs
1. Can I get a loan using only my Aadhaar card?
No, not usually. While the Aadhaar will be enough to prove your identity, there is also a need for details of your income, bank information and PAN from the lenders. While some Aadhar Card Loan Apps provide small amount loans with minimal paperwork, a complete documentation is likely to acquire a bigger loan and better rate of interest.
2. What are the RBI-registered/approved Aadhaar loan apps?
It is also common for apps to be technology platforms, with RBI-registered NBFCs/banks providing the loan. Bajaj Finserv, Navi and Home Credit are NBFCs. There are others such as Stashfin, Moneyview, KreditBee, and Kissht, which have RBI-approved partners. Before taking a loan, always double-check the name of the lender in the App and on the RBI website. See this on every Aadhar Card loan app that you use.
3. What is the lowest credit score required for highlighting the loan with Aadhaar?
The larger the lender, like Bajaj Finserv, the higher the score they prefer; most apps like to see a score of 650 or higher. Some of the apps, such as mPokket, provide small loans to those who don’t have any credit history. The higher this score is, the lower this rate will be and the more likely it is that you will be approved.
4. Can I give my Aadhaar with a loan application?
It is safe provided that the application is genuine and they are from a lender regulated by the RBI. Aadhaar should only be shared within the official app, and never through chat or phone calls. Never give your OTP to anyone. Do not download Aadhar Card Loan Apps which have no lender name, less reviews and request additional permissions.
5. How much loan amount can I get on an Aadhaar card?
It is dependent on your salary, your credit score and the application. Apps such as Olyv and mPokket are priced at ₹1000 and upwards, respectively, while larger apps like Navi are priced up to ₹20 lakh. Most borrowers who are new to the market receive a lower limit, and this may increase as the borrower pays off on a timely basis. Search for the appropriate Aadhar Card Loan App by comparing the limit of each one of them.
