A personal loan is a great way to fuel unforeseen expenses such as medical expenses, travel costs for work or school, or simply to supplement your income. If you are looking forward to applying for personal loan on Aadhar card, then there are some basic things that you would need to know.

Points to Know When Taking a Personal Loan on Aadhar:

1. Getting a loan on your Aadhar Card is easy as long as you furnish proof of a stable income along with it. Your Aadhar card works as a residence as well as identity proof which is an important document requirement.

2. Check the eligibility requirements at your chosen lender’s website. You can do so by using their personal loan eligibility calculator as well. Most lenders have a minimum salary requirement, a healthy credit profile and a low debt-to-income ratio. If you meet the eligibility criteria perfectly, you can avail a higher loan amount at a comfortable interest rate.

3. Check if the EMI is comfortable for you. Understanding the EMI of your personal loan is extremely important. It helps you to plan your finances to the last rupee so that you don’t get any surprises later. You can use your lender’s personal loan EMI calculator to check your EMI and plan the structure of your loan.

4. Understand the application process: Most lenders, such as Fullerton India, have an end-to-end digital process. It means that from application to disbursal, everything is carried out online. Especially with the online application and disbursal, personal loans are now accessible at any time of the day.

Find out the lender’s requirements and apply for a hassle-free personal loan rightaway.

Additional Read: Reasons why to Opt for Fullerton India Instant personal loan