All you need to know about Aadhar Card Loan


Along with the other identity proofs, after April 2010, we also have an Aadhaar card with a unique Aadhaar number. So when we hear the phrase "Loan on Aadhaar", many of us might think that a loan on Aadhaar means that we can borrow money using our aadhaar cards, just like a loan on credit cards, this is not true. 

In fact, as of yet, it is not possible to get a loan by using just your UIDAI-issued identity card. But yes our aadhaar cards do help us in getting a loan from any bank or NBFCs along with other supporting documents. Though our Aadhaar card is not proof of our citizenship but has a lot of our details attached to its database, this facilitates the bank or other financial organization in the verification process of the borrower and therefore reducing the time and documentation involved during the entire transaction.

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