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₹20000 Loan on Aadhaar Card: Get Instant Loans in 5 Minutes
Updated : July 4, 2024
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In need of urgent money? Get a ₹20000 loan on an Aadhaar card quickly. With NoBroker Insta Cash, you can get an instant loan within 5 minutes. This service makes borrowing simple and fast. You can handle emergencies without any hassle. Apply now and get the money you need right away!
₹20000 Loan on Aadhaar Card - Quick Info
A ₹20000 loan on an Aadhaar card is a convenient way to handle urgent financial needs. With minimal documentation and quick approval, this loan option provides fast access to funds.
| Feature | Details |
| Loan Amount | ₹20,000 |
| Interest Rate | Starts from 12.99% per annum |
| Processing Fee | 2% to 8% of the loan amount |
| Repayment Tenure | Up to 6 years |
| Documents Required | Aadhaar Card, PAN Card, Income Proof |
| Approval Time | Within minutes (using NoBroker Insta Cash) |
| Eligibility Criteria | Indian citizen, Aged 21-65, Credit score 650+ |
| Collateral Required | None |
| Penal Interest on Overdue EMIs | Daily interest and late fees on the outstanding amount |
| Application Process | Register with phone number and email, fill in details, upload documents, complete KYC. |
Eligibility Criteria To Avail ₹2000 Loan on an Aadhaar Card?
Yes, now you can get a personal loan of ₹20000 with the help of your Aadhaar card. The steps to get the loan are quick & simple. Following the given eligibility criteria, you can qualify for the loan:
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- Citizenship: You must hold Indian citizenship.
- Age: You must be above 21 years old and below 65.
- Aadhaar Card: As the name suggests, you must have a valid Aadhaar card.
- Credit Score: You must have a good credit score. A minimum score of 650 is needed.
- Income: You should have a stable job and a steady income.
Required Documents For a ₹20000 Loan on Aadhaar Card Online
Getting a ₹20000 loan with your Aadhaar card is easy. By providing the given set of documents, you can get the loan quickly:
- Aadhaar Card: This serves as proof of your primary ID.
- Bank Statement: Shows your income for the last three months.
- Photograph: A clear and recent photo of yours is required.
- Address proof: You must provide proof of your address by uploading your voter ID, utility bill or passport.
- PAN Card: Used for additional identity verification.
How to Apply ₹2000 Loan on an Aadhaar Card through NoBroker Insta Cash App?
Getting a ₹20000 Loan with an Aadhaar card is easy. You can quickly get it through NoBroker Insta Cash by following the steps:
- Step 1: Download the App: Get the NoBroker Insta Cash App from the Play Store or App Store.
- Step 2: Sign Up: Register with your phone number & email address.
- Step 3: Enter Details: Fill in your personal and KYC details.
- Step 4: Select Loan Amount: Choose ₹20000 as your loan amount.
- Step 5: Upload Documents: Provide a copy of your Aadhaar card and any other required documents.
- Step 6: Complete KYC: Use your Aadhaar card to complete the KYC process.
- Step 7:Receive Money: After approval, the loan amount will be deposited into your bank account.
How to Calculate ₹20000 Personal Loan EMI?
You can calculate your monthly EMI of ₹20000 loan easily by using the given formula:
EMI = P * R * (1 + R)^N / ((1 + R)^N - 1)
Where:
- P stands for Principal Amount
- R for Rate of Interest
- N stands for Tenure
Another easy way to calculate your monthly instalments is using the NoBroker EMI Calculator. All you have to do is enter the loan amount, the tenure up to which you want to repay the loan and the interest rate. After entering these, they will automatically provide you with:
- Monthly EMI
- Principal Amount
- Total Interest
- Total Amount
Fees and Charges for ₹20000 Loan
Understanding the fees & charges associated with a ₹20000 loan on your Aadhaar card is crucial. Here are the key details about the interest rates and other fees.
| Feature | Details |
| Interest Rate | Starts from 12.99% per annum |
| Processing Fee | 2% to 8% of the loan amount |
| Penal Interest on Overdue EMIs | Daily interest plus late fees |
Monthly Instalments of a ₹20000 Personal Loan
The monthly instalments of a ₹20000 loan depend on the tenure of the loan. The given table discusses the EMI in detail across different tenures. For instance, if you consider a personal loan of ₹20000 at 12.99% for a 5-year tenure, your EMI will be ₹401. Similarly, the breakdown is given for different loan tenures. Please note the interest rate here is 12.99%. pa
| Amount | Interest Rate (p.a) | Loan Tenure | EMI |
| ₹20000 | 12.99% | 1 Year | ₹1,786 |
| ₹20000 | 12.99% | 2 Years | ₹951 |
| ₹20000 | 12.99% | 4 Years | ₹536 |
| ₹20000 | 12.99% | 6 Years | ₹401 |
Can You Get a ₹20000 Loan on an Aadhaar Card Online Without Documents?
Getting a ₹20000 loan using only your Aadhaar card is not possible. Most lenders ask for additional documents for verification. Apart from your Aadhaar card, lenders might ask for more documents to check your identity and ensure you can repay the loan.
Easy Tips for Getting a ₹20000 Loan with Aadhaar Card
Now, getting a ₹20000 loan with your Aadhaar card is simple! Follow these easy tips to ensure quick approval and minimal hassle.
- Check Eligibility: Ensure you meet the lender’s age, credit score and income requirements.
- Keep Documents Read: Have your Aadhaar card, PAN card, and proof of income ready.
- Maintain a Good Credit Score: Pay your bills on time to keep your credit score high.
- Compare Lenders: Look at different lenders’ interest rates and terms before applying.
- Use a Loan Calculator: Calculate your EMIs to plan your repayments better.
List of 5 Best Instant Loan Apps in 2024
Are you planning to get a quick loan? We have curated the top 5 instant loan apps that can help you get money quickly:
1. NoBroker Insta Cash
NoBroker Insta Cash offers loans up to ten lakhs instantly. It features instant approval with interest rates starting at ₹12.99%. The app also has an auto-repayment option, making it easy to get money quickly with the least documentation. With NoBroker Insta Cash, you can handle emergencies or any urgent expenses without worry.
2. MoneyView
MoneyView offers loans up to ten lakhs in just 10 minutes. It ensures transparent terms with no hidden charges. The tenures are flexible, ranging from 3 to 60 months. This app allows you to apply quickly and get personalised loan offers. MoneyView is perfect for those who need fast and reliable loan services.
3. PaySense
PaySense offers instant personal loans from ₹5000 to five lakhs. It features quick approvals and paperless documentation. The EMI plans are affordable. PaySense is great for new credit users and offers one-click follow-up loans. It provides easy access to funds when you need them the most.
4. KreditBee
kreditBee provides personal loans from ₹3000 to ₹5 lakhs. It offers a 100% online process, and loans are available 24/7. Interest rates start at 16%, making it affordable. You can get your loan in just 10 minutes and repay it with flexible terms. KreditBee is ideal for quick and easy financial support.
5. Navi
Navi provides instant personal loans with interest rates starting at 9.9%. The process is 100% paperless and requires minimal documentation. No collateral is needed. Quick disbursal and easy EMI options make Navi great for fast loans. It is convenient and efficient for handling financial needs.
Purpose of a ₹20000 Loan on an Aadhaar Card
A ₹20000 loan using your Aadhaar card can be helpful in many situations. Here are some common purposes of such loans:
- Medical Urgencies: Use the loan to cover unexpected medical expenses and get timely treatment.
- Education Costs: Pay for school fees, buy books, or cover other educational costs.
- Home Repairs: Fix urgent issues like leaks, broken appliances, or other repairs.
- Monthly Bills: Manage utility bills and other expenses when funds are low.
- Travel Costs: Handle unexpected travel expenses, including tickets and accommodations.
Get Quick Loans with NoBroker Insta Cash!
Instant loans are crucial in emergencies. It provides quick financial support when needed most. With NoBroker Insta Cash, you can get a ₹20000 loan on an Aadhaar card within minutes with just a few clicks. This service makes it easy to handle urgent expenses without hassle. Apply now with NoBroker Insta Cash and solve your financial needs quickly and efficiently.
Frequently Asked Questions
Ans: Yes, processing fees usually range from 2 to 8% of the loan amount.
Ans: A credit score of 650 or above is generally preferred, but some lenders may offer loans to those with lower scores.
Ans: Missing an EMI payment can result in penal interest and late fees. It’s important to ensure timely payments to avoid extra charges.
Ans: No, these loans are typically unsecured, meaning you don't need to provide collateral.
Ans: With services like Nobroker Insta Cash, you can get the loan amount in a just few minutes after approval.
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