Aadhar card
Do you know that you can also get loan through Aadhar card? Yes, you can get a loan up to Rs 2,000 through just one Aadhar card. There is only one condition. That is, take loans only from regulated lenders or banks. Also, read all the conditions carefully before clicking on accept. It should not happen that someone is frauding you in the name of giving loan. Let us also tell you how you can get a loan only with Aadhar card and what is its complete process.
First select a safe lender
For small loans of Rs 2,000, you will usually get offers from bank apps, NBFC apps or partner platforms. Before you even begin applying, make sure that the lender is a regulated institution and not some arbitrary “instant cash” app acting on its own. RBI’s digital loan rules are based on this idea: the loan should be issued by a regulated entity, with clear disclosures and proper channels for grievance redressal.
Have basic documents ready
Even if a loan is described as “Aadhaar-based”, most lenders still want two things to identify you and give you a loan: an active bank account and a working mobile number linked to Aadhaar for OTP authentication. Your specific consent is required for authentication for Aadhaar OTP based e-KYC.
Apply on official app or website
Download the official app of the bank or NBFC, or use a reputable platform that clearly shows which is offering regulated loans. Avoid clicking on loan links sent on WhatsApp, SMS or social media. RBI and the government have repeatedly warned people about unauthorized digital loan apps and scams that misuse KYC documents.
Complete the KYC process carefully
During KYC, you will usually be asked for your PAN card, Aadhaar number and the OTP received on your mobile linked to your Aadhaar. Some lenders may also use video KYC. There are two instant safety rules: Enter the OTP only on the lender’s own screen, and never share your Aadhaar OTP with any “support person” on the call. Aadhaar authentication is based on consent, and you should treat OTP like a password.
Read loan details before accepting
For a loan of Rs 2,000, the biggest risk is not the principal amount. Rather there are fees. Before accepting, look at the Key Fact Detail or equivalent summary and check the interest rate, processing fee, any “platform fee”, late fee and exact repayment date. RBI’s digital loan framework is designed in such a way that borrowers can clearly see the costs and know who is responsible for the loan.
Make sure money and installments go to the right place
A good practice is that the loan amount should be deposited in your bank account and the installments should go to a registered lender and not to an individual UPI ID or any unknown account. If an app asks you to pay elsewhere, consider it a warning and stop using the app.
Pay on time and do not extend the loan
Small “instant” loans can prove to be sneakily expensive if you miss the due date and extend them again and again. Set reminders, pay early if there is no penalty and keep proof of payment.
