Personal Loan On Aadhaar Card | Apply Online Upto Rs.35 Lakh

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What is a Personal Loan with an Aadhaar Card?

A Personal Loan with Aadhar Card offers a hassle-free financing solution requiring minimal documentation. Using the Aadhaar Card as the primary KYC document streamlines the application process. Biometric authentication further expedites verification, leading to swift loan approval.

Whether for planned expenses or unexpected financial needs, Kotak facilitates the Personal Loan application online, ensuring convenience and accessibility for borrowers.

Personal Loan with Aadhaar Card as KYC Document: Key Features and Services

Personal Loan application online provides a hassle-free borrowing experience with compelling benefits. Discover the key features and services offered by Kotak's Personal Loan with Aadhaar Card as KYC document:

Instant Loan

Kotak's Personal Loan with Aadhaar Card offers instant access to funds using the applicant’s Aadhaar number for swift processing and approval. This ensures you can quickly address urgent financial needs or emergencies.

Collateral-Free

Unlike traditional loans that require collateral or security, the Personal Loan with Aadhaar Card from Kotak is collateral-free. This means you can borrow funds without having to pledge any assets, simplifying the borrowing process and eliminating the risk of losing valuable assets in case of default.

High-Value Loan

Whether you need a small amount for unexpected expenses or a larger sum for significant financial undertakings, the Personal Loan with Aadhaar Card provides flexibility with loan amounts ranging from ₹50,000 to ₹35 Lakh. This enables you to meet various financial needs, such as funding education, medical expenses, home renovations, or business ventures.

Easy Repayment

With loan tenures ranging from 1 to 6 years, the Personal Loan with Aadhaar Card offers easy repayment options tailored to suit your financial capabilities. You can choose a repayment schedule that fits your budget and lifestyle, ensuring you can comfortably repay the loan without undue financial strain.

Affordable Interest Rate

Kotak's Personal Loan with Aadhaar Card comes with competitive interest rates starting at 10.99% per annum. This ensures your borrowing costs remain affordable, allowing you to manage your finances more effectively and avoid excessive interest expenses over the loan term.

List of Document Requirements for Personal Loan with Aadhaar Card

To avail of a hassle-free Personal Loan with Aadhaar card only of up to ₹5 Lakh, you'll need the following documents:

Document	Required For
PAN Card	Identity Proof
Aadhaar Card	Identity Proof
Last 3 Months Bank Statements	Income Verification

For a Personal Loan with Aadhaar card only of up to ₹35 Lakh, the documentation requirements are as follows:

Document	Required For
PAN Card, Passport, Aadhaar Card, Driving Licence	Valid Identity Proof
Passport, Aadhaar Card, Driving Licence	Valid Residence Proof
Last 3 Months Bank Statements	Income Verification
Salary Slip for Last 3 Months (Salaried Employees)	Income Verification
2-3 Passport-Sized Photographs	Identity Verification

Personal Loan with Aadhaar Card - Interest Rates & Charges

Personal Loan interest rates are subject to change and may vary based on the terms and conditions set by Kotak Mahindra Bank. Here's a breakdown of the Personal Loan interest fees and charges applicable to Kotak Bank’s Personal Loan with Aadhaar application online:

Charge Type	Applicable Amount
Interest Rate (Fixed)	Starting from 10.99% per annum
Loan Processing Fees (Non-Refundable)	Up to 5% of the final loan amount plus applicable taxes. Deducted from the loan amount at disbursal.
EMI Dishonour/Bounce Charges	₹500 plus taxes per instance
Swap Charges	₹500 plus applicable taxes per instance
Pre-Payment Charges	The charge per instance of part payment is ₹500 plus taxes.

It's advisable to check with the bank for the most up-to-date information before availing of a Personal Loan with Aadhaar Card.

Eligibility Criteria for Personal Loan with Aadhaar Card

The Aadhaar Card Personal Loan eligibility criteria from Kotak Bank is as follows:

Criteria	Eligibility Requirement
Nature of Employment	Employed with an MNC, public limited company, or private limited company
Age	Individuals aged between 21 years and 60 years are eligible
Minimum Monthly Income	- For Kotak Bank Salary Account holders: Minimum net monthly income of ₹25,000 - For non-Kotak Bank Salary Account holders: Minimum net monthly income of ₹30,000 - For Kotak Bank Employees: Minimum net monthly income of ₹20,000
Minimum Educational Qualification	Graduation is a prerequisite
Work Experience	Applicants must possess at least one year of work experience

Ensuring that you meet these eligibility criteria will increase your chances of qualifying for the Personal Loan with Aadhaar Card from Kotak Bank.

How to Apply for a Personal Loan with Aadhaar Card?

Here's a simple guide to applying for Kotak’s Personal Loan with Aadhaar Card only:

Visit Kotak’s Website: Start by visiting the official website of Kotak Mahindra Bank.
Go to the Personal Loan Category: Once on the website, go to the Personal Loan category. This can usually be found in the banking products or loan section.
Click on 'Apply Now': Look for the 'Apply Now' button associated with the Personal Loan with Aadhaar Card product and click on it to initiate the application process.
Fill in the Application Form: You'll be directed to an online application form. Fill in all the required details accurately, including personal information, employment details, loan amount required, etc.
Click 'Submit': After completing the application form, review all the information provided and click the 'Submit' button to send your application to Kotak.
Await Response from Kotak Bank: Once your Personal Loan with Aadhaar Card application is submitted, a Kotak executive will review your application. They will contact you to discuss the next steps and finalise the loan process if approved.

Following these easy steps, you can apply for Kotak’s Personal Loan with Aadhaar Card and access the funds you need conveniently and efficiently.

FAQs for Personal Loan with Aadhaar Card

Can I get a Personal Loan with my Aadhaar card?

Banks and lending institutions like Kotak Mahindra Bank offer Personal Loans with an Aadhaar card as a primary identification document.

What types of Personal Loans can I apply for with an Aadhaar card?

You can apply for various types of Personal Loans including home loan, vehicle, and more, using your Aadhaar card as one of the key documents.

How can I link my Aadhaar card to my Personal Loan application?

You must provide your Aadhaar card details and other necessary documents when applying for a Personal Loan. The lending institution will verify and link your Aadhaar card to your Personal Loan application.

Is an Aadhaar card mandatory to get a Personal Loan?

While an Aadhaar card is often preferred as a primary identification document, some lending institutions may accept alternative documents. However, having an Aadhaar card can simplify the Personal Loan application process.

Can I get a Personal Loan if my Aadhaar card details are not up-to-date?

It's advisable to ensure your Aadhaar card details are up-to-date before applying for a Personal Loan to avoid any discrepancies during the verification process. However, some lending institutions may allow updating details during the application process.

How is Aadhaar used in the Personal Loan verification process?

During the Personal Loan verification process, Aadhaar is used for identity verification and KYC (Know Your Customer) purposes. It helps lending institutions authenticate the borrower's identity and streamline the verification process.

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