In today’s times, everyone needs money—whether to fulfill personal requirements or to handle emergencies. However, arranging funds instantly can be extremely difficult these days. But today, we have brought you a solution for this very challenge. Now, obtaining a loan based on your Aadhaar card has become easy. Any bank or financial institution can grant you a personal or business loan based on your Aadhaar card and basic KYC documentation.
n addition to personal loans, the government is introducing numerous schemes under which loans are being provided to small business owners and the youth. Through the Pradhan Mantri Employment Generation Programme (PMEGP), loans amounting to lakhs of rupees are being disbursed to many individuals to help them start new businesses. If you are also considering availing a loan—whether via your Aadhaar card or through the PMEGP—you will find all the necessary information available on this page.
How much of a loan can be obtained using an Aadhaar card?
If you are considering taking out a loan using your Aadhaar card, please note that the loan is not granted solely on the basis of the Aadhaar card itself; rather, the Aadhaar card serves as your proof of identity and is used for KYC verification. Nowadays, numerous banks and digital platforms offer the facility of instant online personal loans, wherein the loan processing begins by verifying your identity using your Aadhaar card. Through your Aadhaar card, you can avail of a personal loan ranging from ₹10,000 to ₹2.5 lakhs.
How to Get a Personal Loan Using an Aadhaar Card?
If you wish to apply for a personal loan online using your Aadhaar card, follow the steps given below:
- Visit the website of the bank or loan app from which you wish to obtain the loan.
- Select the “Apply for Personal Loan” option on the website’s homepage.
- Enter your mobile number and Aadhaar card number.
- Complete your KYC verification using the OTP.
- Enter your income and bank details.
- Submit your application.
What is PMEGP Loan Scheme?
In today’s era of unemployment, every individual aspires to start their own small business. To facilitate this, the government has introduced the Pradhan Mantri Employment Generation Programme (PMEGP). This scheme is administered by the Ministry of Micro, Small and Medium Enterprises. Its operations are managed by the Khadi and Village Industries Commission. Under the PMEGP Loan Scheme, in addition to business loans, government subsidies are also provided to enable every young individual to start their own enterprise.
How much loan amount is available under the PMEGP scheme?
Under the PMEGP Loan Scheme, two types of loans are available, for which a government subsidy ranging from 15% to 35% may be granted:
- Manufacturing Business – Maximum loan up to ₹25 Lakhs
- Service Business – Maximum loan up to ₹10 Lakhs
How to apply PMEGP Loan?
To apply for a PMEGP loan, follow the steps given below:
- Open the official PMEGP website.
- Begin filling out the online application form.
- Upload your Aadhaar card, photo, mobile number, and other necessary documents.
- Provide details regarding your business.
- Submit the application.
Required Documents
Documents Required for an Aadhaar Card Loan or PMEGP Loan:
- Passport-sized photograph
- Aadhaar Card
- PAN Card
- Bank Passbook
- Income Certificate
- Business Project Report (for PMEGP)
Hi, I’m Ronak, a news writer covering the latest updates in automobiles, education, smartphones, and trending topics. I focus on delivering simple, clear, and timely news to keep readers informed about what’s happening around the world.