For individuals who seek quick financial assistance, you have now found a saviour in small cash loans on Aadhaar cards. This type of personal loans on Aadhaar card are unsecured loans offered by banks and NBFCs. Use the instant access to small cash loans for medical emergencies, travel expenses, weddings, education, unexpected bills, etc.
Small cash loans have revolutionised the traditional lending process, as they require minimum paperwork, and can be repaid over a short period. Take a quick look at the eligibility and documents required to get the loan on Aadhaar card.
Small Cash Aadhaar Loan Details
Before availing a small cash loan, here are the essential details you need to know.
| Minimum Amount | ₹ 500 |
| Interest Rate | 9.9% p.a. onwards |
| Processing Charge | Applicable* |
| Credit Score | 650 & above |
| Salary | ₹ 15,000 |
| Age | 21 & above |
| Applicant Status | Employed |
| Minimum Tenure | 2 months |
Also, make sure to complete your e-KYC with your Aadhaar card before applying for any loan.
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Small Cash Aadhaar Loan Eligibility
Specific eligibility criteria may vary among lenders, but the general requirements are as follows:
- Age: Applicants should be between 21 to 65 years.
- Nationality: Indian Citizen.
- Aadhaar Card: Must posses a valid Aadhaar card
- Employment: Can be salaried or self-employed.
- Income: An in-hand salary of Rs. 15,000 per month is required.
- CIBIL Score: Minimum of 650 & above
- Creditworthiness: Lenders evaluate the borrower's income, repayment history, and finances.
Documents Required for Small Cash Loan on Aadhaar Card
In order to get an instant loan, an Aadhaar card is sufficient. However, you may have to submit other documents depending on the lenders. Here is the list of documents required to avail a mini cash loan online:
- Identity Proof:Aadhaar Card, Valid Voters ID, Driving License or Indian Passport
- Address Proof:Passport, Driving License, Rent Agreement, Utility Bills (Electricity, Water, Gas) of last 60 days, etc
- Income Proof:Salary slips, Income Tax Returns & Bank Statements for the last three months Bank cheque of your salary account
- Bank StatementsTo assess your financial health and repayment capacity
- Passport-size photo
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Interest Rate on Small Cash on Aadhaar Card Loan
As these are short-term and unsecured loans on Aadhaar card only, the interest rate may be slightly higher than traditional loans. So, to ensure you get the best deal, carefully compare and review the interest rates of different lenders. Be aware of any additional fees and charges during the loan period as well.
Here is an estimated overview of the interest rate and processing fee charges, which may vary depending on the lenders. To check the interest rates and other details for a small cash personal loan on Aadhaar card, refer to the table below.
| Minimum Amount | ₹ 5,000 |
| Interest Rate | 9.9% p.a. onwards |
| Repayment Tenure | Min 2 months |
| Processing Fee | Nil* |
| Foreclosure Charges | Nil* |
List of Top Lenders Offering Small Cash Personal Loans on Aadhaar Loans
The Small Cash Loans have better scope in NBFCs than in traditional banks. As they come with 0 complications and easy procedures. Here's a compiled list of leading lenders providing fast small loans, with the loan amount and corresponding interest rates.
| Top Lenders | Loan Amount | Interest Rates |
|---|---|---|
| Loanbaba | Up to ₹1 Lakh | 0.1% per day |
| Pocketly | ₹500 - ₹10,000 | 2% - 3% per month |
| Navi | ₹10,000 Onwards | 9.9% - 45% p.a |
| Phocket | Up to ₹1 Lakh | 2.50% - 3% per month |
| Early Salary | Up to ₹5 Lakh | 2.5% per month |
| CASHe | Up to ₹4 Lakh | 2.25% - 2.5% per month |
| Money View | Up to ₹5 Lakh | 1.33% per month |
| Credy | Up to ₹1 Lakh | 1 - 1.5% of the loan month per month |
| PaySense | Up to ₹5 Lakh | 16% - 36% p.a |
| MoneyTap | Up to ₹5 Lakh | 13% p.a |
| PayMe India | Up to ₹2 Lakh | 36% p.a |
| Lendbox | Up to ₹5 Lakh | Starts at 11.49% |
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However, the actual interest rates vary based on various factors, including the specific loan amount offered by the lender and your individual financial profile. Before you decide to avail a loan, research thoroughly and compare your options.
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Small Cash Loan Aadhaar Loan EMI Calculator
Use this user-friendly calculator to accurately determine the EMI for your small cash loan on Aadhaar card. Calculate the interest rate percentage associated with your personal loan. Compare various lenders and make an informed choice that best suits your needs.
Utilise this simple tool to find out the EMI for your small cash loan, effortlessly..
Small Cash Loan on Aadhaar Card without PAN Card
Gone are the days of complex loan applications with countless documents. Now embrace the simplified loan application process. A small cash loan on Aadhaar card without a PAN card was introduced with the aim of making the loan process more convenient and accessible to a broader section of the population.
Several financial institutions and digital lending platforms now provide this small cash loan service to eligible applicants, revolutionising the loaning process.
Features & Benefits of Small Cash Loan with Aadhaar
Explore the key features and benefits that make small cash loans only with aadhaar card stand out:
Single Document
Aadhar Card for identity
& Address proof
Speedy Disbursal
Loan approval &
disbursal in mins
100% Paperless
Expect complete e-KYC
process
Credit Score Flexiblity
Consideration beyond
credit score
Short Tenure
Repay quickly with
short-term options
Flexible Amount
Customizable loans for
individual needs
Steps to Apply Online for a Small Cash Aadhaar Loan with Buddy Loan
Follow these steps to apply for a Small Cash Loan on aadhaar Card in Buddy Loan:
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Ready to take the next step? Apply for a Personal loan now!
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Frequently Asked Questions on Small Cash Aadhaar Loan
It's a quick, short-term, unsecured loan based on your Aadhaar card, offering funds for immediate needs.
You need to be an Indian citizen, over 18 years, with a valid Aadhaar card and a stable income.
Apply on a verified lending platform that accepts your PAN and Aadhaar card, provide accurate details, and wait for approval.
Yes, genuine options exist but research well. Ensure you only share your information on trusted platforms & lenders to avoid scams.
Yes, some lenders offer Aadhaar-based loans without a PAN card, but other documents like income & address proof may be needed.
Varies by lender, based on income, repayment capacity, and policies; typically range from a few thousand to lakhs.
Yes, for Aadhaar-based loans, lenders consider income & repayment history, but rates might be higher due to risk.
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