In the year 2009, the Government of India introduced the Aadhaar program to ensure that each Indian citizen has a unique identity. Aadhaar is a twelve-digit distinct identity number that has been issued to all citizens residing in India based on their location, date of birth, biometric details like iris scan, and fingerprints. The whole information is gathered by the UIDAI— Unique Identification Authority of India.
As per the final judgment passed by the Supreme Court, each Indian citizen is supposed to link an Aadhaar card to their bank account as well as mutual funds. It is essential so that a citizen could reap the benefits of various Government based welfare schemes such as LPG subsidy and Pradhan Mantri Awas Yojana.
Applicants who are considered eligible for a personal loan should furnish supporting documents. Nevertheless, one does have an alternative option to apply for a personal loan on an Aadhaar card and PAN card through trustworthy money lenders like Money View. They are granting loan amounts up o 5 lakhs starting at a 1.33% per month rate of interest (ROI). The entire process is carried out in a digital format and paperless. This would ensure that there are no hassles during the loan application procedure.
Why is it necessary to avail of an instant loan on an Aadhaar card and PAN card?
According to the Government rules and regulations, every loan-providing institution or lender demands the applicant’s KYC details while he/she is applying for a personal loan. A major benefit of disclosing the Aadhaar card information is that concerned lenders could confirm and verify prospective borrower’s identities using UIDAI Aadhaar biometrics in the future.
The presence of an Aadhaar card would ensure a seamless loan process. Now, the overall time taken to verify an applicant’s documents by concerned lenders is less as they had begun to accept Aadhaar cards as proof.
This would make sure that an applicant is not required to submit all documents while applying for a personal loan as monthly income details are more than enough. Here at Money View, personal loans are provided with flexible repayment tenure i.e. 12, 24, 36, 48, and 60 months. The rate of interest is charged at 1.33% per month.
What are the application procedures for a personal loan on an Aadhaar card and PAN card?
It would take approximately a few minutes to complete the application process through Money View. Follow the below step-by-step instructions.
- The initial step involves accessing the official website of the Money View
- Now browse through the personal loan section and choose the ‘Apply online’ option
- Next input relevant employment, personal and professional details in the online application form
- The fourth step deals with performing a thorough background verification process of an applicant. It is usually carried out by one of the representatives at Money View
- The final step is the submission of the Aadhaar card along with relevant documents to conclude the loan application procedure.
The application for the Money View personal loan on Aadhaar and PAN card will be approved within just a few hours.
What are the reasons for choosing Money View to avail personal loan?
- An applicant could avail Money View personal loan ranging from Rs. 5,000 to Rs. 5 lakhs. It does not matter where you are residing, the Money View grant’s personal loan irrespective of location.
- Digital format: —- Right from loan application to documentation, the entire process is executed in a digital format.
- The applicants could choose a repayment tenure beginning from 3 months to 60 months
- Money View ensures 100% transparency in dealing.
- Instant approval and disbursal of the loan amount into your bank account.
Even the existing customers have the right to avail of Money View personal loan offers on the Aadhaar card and PAN card. You can procure it with just a few clicks without paying any hidden charges.
What are the eligibility requirements for a personal loan with Aadhaar and PAN card?
- Applicants should be aged between 21 and 57 years.
- Should be employed in a reputed firm
- Must be a permanent citizen of India
- Earn a monthly salary of Rs. 13,500
The outcome of PAN card and Aadhaar card on an Instant personal loan
Aadhaar and PAN card are the two major documents to be submitted before applying for an instant personal loan. The advent of the Aadhaar card in the year April 2010 had altered the loan scenario drastically. Now people are not required to wait in the queue for long hours to get a loan approved. The availability of KYC documents eases the loan approval procedures.
A major difference between a PAN Card and an Aadhaar card is that the former is meant for fulfilling the eligibility requirements for biometric verification while the latter confirms and verifies taxation and financial dealings of a prospective borrower.
What are the potential risks involved concerning the loss of the Aadhaar card?
As the Aadhaar card is interlinked to crucial supporting documents like PAN card, bank account, mobile number, there has been widespread speculation that the Aadhaar card might trigger loss of identity. By considering this, the Government of India launched virtual IDs to make sure that a user’s privacy and data are safe and secured.
The prospective users do have the option to activate the virtual Id via the UIDAI website. This helps track the actual Aadhaar number of an individual. One could create multiple virtual IDs based on their discretion. While doing so, the previously created one automatically becomes invalid.
Here at Money View personal loans could be procured through Aadhaar and PAN card with ease. The entire loan application process is simple and quick. The major highlight concerning Money View for a personal loan is that they are providing loans at an ROI with flexible repayment tenure and do not levy hidden charges from the customers. Visit the official site of Money View to get familiar with the registration process.