Being salaried does not always mean you can fight sudden financial emergencies.
Unpredicted financial needs like medical expenses, home or vehicle repairs, or last-minute travel plans can make your life difficult. Having cash at your disposal can help you effortlessly deal with these situations.
However, visiting a bank and going through the long loan approval process will not help during a financial crisis. This is where the instant 20000 loan on an Aadhar card helps.
Convenient Process
100% Digital and No Paperwork
Apply on the Go
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Lightning Fast
Disbursal Within 2 Hours
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20000 Loan on Aadhar Card – Overview
The 20000 loan on an Aadhar card has been made possible because of the mandatory linking of the Aadhar card to your bank account. This helps people to get Rs. 20000 personal loans immediately without visiting the bank or submitting multiple documents. You can use your unique Aadhar number and get much-needed funds from emergency loan apps.
Table of Contents
20000 Personal Loan Using Aadhar – Understanding the Process
The availability of online loan apps has made the process of getting 20000 loan easy. Let us understand the various components of the Aadhar card loan app:
List of Documents for the Rs. 20000 Personal Loan
Getting a Rs. 20000 loan on Aadhar card is streamlined, and can be done without stepping out of your home. The Aadhar card loan does away with physical documentation. You need to scan and upload the following documents:
- Know Your Customer (KYC) Documents – Aadhar Card and PAN Card
- 3 Months’ Bank statement with your salary being reflected clearly
- National Automated Clearing House (NACH) forms or e-NACH forms
Eligibility for 20000 Loan
You need to be a salaried Indian citizen between 21 and 45 years of age with a valid Aadhar card and a consistent salary of a minimum of Rs. 12,000 to avail of the instant Rs. 20000 loan an Aadhar card.
Interest Rates of the 20000 Instant Loan
The customers are given the liberty to withdraw any amount from the total approved loan amount. Interest is charged only on the amount withdrawn and in the event of you availing the EMI facility to repay your loan.
The various charges for your Rs. 20000 loan on Aadhar card are as follows:
| Detail | InstaMoney Charges |
| Interest Rate | 1.84%- 3.43% per month |
| Assessment Fee | Rs. 199 if you are found to be eligible for loan approval & Rs. 199 is charged every time you reapply for a loan |
| Processing Fee | 5% of the loan amount +GST |
The processing fee and gap interest (if any) are deducted from the loan amount before disbursal. However, the customer needs to pay the registration fee for the loan to be disbursed.
Steps to Apply for Rs. 20000 Loan on Aadhar Card
If you are someone who is still wondering “I need 20000 rupees loan urgently” just follow these steps to get your hands on a Rs. 20000 personal loan from the InstaMoney: Best Loan App.
To apply for the Rs. 20000 loan on Aadhar card, you have to download the online loan app- InstaMoney from the Play Store onto your phone.
1. Check Eligibility
Visit the InstaMoney website or download the app, enter all the necessary details, and you will receive your eligibility status within 2 minutes.
2. Choose Loan Duration
Enter 20000 loan amount and select repayment period from the available options.
3. Upload Documents
Upload all the required documents online for verification.
4. Loan Amount Disbursed
Once your documents are verified and the loan agreement is submitted, the approved amount will be transferred to your bank account within 2 hours.
Benefits of the Emergency Loan Rs. 20000
The instant Rs. 20000 loan is a convenient way to manage your emergency financial needs. The Aadhar Card Loan has a few more added benefits:
- Swift approval and loan disbursal within 2 hours
- No collateral is needed. You apply only with your Aadhar card.
- Easy to use mobile application. You can apply for loans on the go.
- Completely digital process with no paperwork.
- World-class data encryption techniques prevent misuse of your details.
20000 Loan on Pan Card
Availing a 20000 personal loan using the PAN Card is as easy as getting a loan using the Aadhar card. A PAN card is linked to every bank account and loan you have availed. The lender checks your eligibility and repayment capacity for the personal loan easily when you use the PAN card as a verification document.
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FAQ - Frequently Asked Questions
1. How can I be sure that I am availing loan from a licensed online loan app?
You need to avail 2000 personal loan from online loan apps regulated by the Reserve Bank of India (RBI). InstaMoney is operated by Innofin Solutions Pvt Ltd., which is registered as an Non-Banking Financial P2P Company under RBI.
2. Is it possible for me to avail Rs. 20000 loan without documents?
No, it would not be possible for you to avail of a Rs. 20000 personal loan without documents as Instamoney base your eligibility and gauge your loan repaying capacity based on the important documents such as the PAN and Aadhar card you upload. Since personal loans are unsecured (without collateral), these documents are a must as proof.
3. How can I ensure that my 20000 personal loan is approved
There is a chance that the online Aadhar card loan app might reject your loan application if you don’t provide adequate or appropriate documents or if your credit score is too low.
Instant Loan forInstant Needs
