Rs 20,000 Loan On Aadhaar Card

With the advent of the Aadhaar card and its interlinking with the bank account, as well as the PAN card, the accessibility to a wide range of financial services has improved by a great margin. People are no longer required to furnish multiple documents in order to open a savings account with a bank or apply for a digital personal loan.

Rs 20,000 loan on an Aadhaar card is one such benefit of having an Aadhaar card linked to your bank account. Rs.20,000 loan on an Aadhaar card is a small-ticket personal loan facility intended to benefit individuals who are in need of quick cash instantly without paperwork.


Rs 20,000 Aadhaar Card Loan Interest Rates & Charges

The applicable rate of interest on Rs.20,000 Aadhaar card loan remains dynamic as it can be 12% for a customer while the rate of interest can escalate to 14% for another customer. 

Rs 20,000 Aadhaar Card Loan Online

Rate of InterestStarting from 12%
Processing FeeStarting from 2%
Repayment Tenure3 to 60 months

The processing fee, repayment tenure and other loan conditions including pre-closure fee, late repayment fee, bounce charges, and approval-to-disbursal time can vary from lender to lender. 

It can be different depending on the customer profile, CIBIL score, status of employment, and repayment history, if any. 

Some banks and NBFCs run various promotional activities wherein the processing fee on Aadhaar card-based personal loan is waived off for a limited period.

Rs 20,000 Aadhaar Card Loan Features

1. Quick Disbursal: Rs 20,000 Aadhaar card loan is quite popular due to quick processing time right from checking the eligibility to verifying your identity, documents, filling in the form, loan approval and disbursal. With Aadhaar Card acting as the primary document for Rs 20,000 Aadhaar card loan, the money is instantly credited into the bank account of the borrower within an hour.

2. Collateral Free Loan: Aadhaar Card loans are not backed by any collateral, likewise Rs 20,000 loan on Aadhaar Card is an unsecured credit facility. Individuals can apply for Rs 20,000 Aadhaar card loan on the basis of credit score, banking transactions, present earnings and ongoing liabilities.

3. Less Documentation: For Aadhaar Card based personal loan of Rs 20,000, applicants are not required to furnish a long list of documents. A handful of requisite documents including an Aadhaar card, a PAN card and recent months’ bank statements can help in applying for Rs 20,000 loan on Aadhaar card.

How To Apply For Rs 20,000 Aadhaar Card Loan

The application process of Rs 20,000 Aadhaar card loan is quick & easy. Interested users can apply for a Rs 20,000 loan on Aadhaar card through https://www.mymoneymantra.com.

Step 1: Visit https://www.mymoneymantra.com

Step 2: Scroll towards the ‘Loan’ option at the top-left side on the Home Page.

Step 3: Click on the ‘Personal Loan’ option from the drop down menu.

Step 4: The applicant will be prompted to fill in a form for a Rs 20,000 personal loan on Aadhaar card.

Step 5: Enter the needful such as Full Name, Phone Number, Email Address and the desired Loan Amount.

Step 6: Click on Let’s go!

Documents Required For Rs 20,000 Aadhaar Card Loan 

Minimal documentation and quick disbursal are the two highlights of Aadhaar card-based loans. A Rs 20,000 loan on Aadhaar card requires a proof of address, proof of identity, proof of income, bank statements, PAN card etc are required to process the application.

Rs 20,000 Aadhaar Card Loan Eligibility

The eligibility of Rs 20,000 Aadhaar card loan is very basic. Please refer to the table below.

CriteriaEligibility Condition
Residential StatusIndian Resident
Age of ApplicantAbove 18 Years
CIBIL ScoreOver 650
Mandatory DocumentAadhaar Card

Please note that these are basic eligibility conditions only and are subject to change from lender to lender. Over and above this, the lender may ask you to provide the bank statements, current residential proof, etc. 

How To Improve Aadhaar Card Loan Eligibility

People with damaged or no credit history may not qualify to get a Rs 20,000 Aadhaar card loan as lenders are less willing to onboard customers who have a disturbed repayment history or the ones who are new-to-credit. However, customers can improve their respective eligibility for Aadhaar card loan by a series of modifications. 

  1. Improve Your Credit Score: Improving the credit score should be the first and foremost step if you have a damaged credit score due past repayments or defaults on EMIs. People who are new-to-credit can look for alternatives if they can’t qualify for a Aadhaar card-based personal loan from one lender. Banks and NBFCs are eagerly looking forward to boosting their respective loan books but they are also mandated by stern RBI directives especially for unsecured credit. 
  2. Wait Till You Achieve Minimum Age Limit: Fulfilling the minimum age limit doesn’t guarantee a loan approval. Some lenders have a minimum age requirement of 18 years, while some demand 21 years. People below the minimum age bracket of a lender will not be eligible for Rs 20,000 Aadhaar card loan. 
  3. Residential Status Constraints: Other than the minimum age requirement, there can be some limitations on the residential status as there can be some lenders and NBFCs which are servicing a select few metro cities, while there can be a new-age financier focused on Tier-2 and Tier-3 cities. 
  4. Local Address Proof: As Rs 20,000 Aadhaar card loan remains an unsecured credit facility, some lenders may ask you to furnish a local address proof, it could be a government-issued ID, maybe an electricity bill, etc. Non-judicial rental agreements are no longer supported as a valid proof of address, however some lenders still accept it alongside Aadhaar card.
  5. Secure Small-Ticket Credit: You can try securing a smaller loan first in case you are not able to make it to a Rs 20,000 Aadhaar card-based loan. Taking a smaller loan, repaying the dues well within the designated repayment tenure can help in building your credit profile for large-ticket credit facilities.

Rs 20,000 Aadhaar Card Loan EMI Calculator

Individuals aiming to take a Rs 20,000 Aadhaar card loan can calculate the EMIs according to a desired tenure before giving the final go-ahead. In order to calculate the EMIs for a Rs 20,000 Aadhaar card loan, you can use MyMoneyMantra’s personal loan EMI calculator.

Rs 20,000 Aadhaar Card Loan EMI Table

Tenure (months)EMI (Rs) @ 12% p.a.EMI (Rs) @ 15% p.a.

Source: MyMoneyMantra

Rs 20,000 Loan On Aadhaar Card FAQs

How to check Aadhaar card loan eligibility?


Aadhaar card loan eligibility differs with varied customer profiles and the lending platform. You can check the eligibility conditions before applying for an Aadhaar card-based loan.

How to get a Rs 20,000 loan instantly?


Many lenders offer an instant personal loan of Rs 20,000 with little different rates of interest and eligibility conditions. A Rs 20,000 Aadhaar card loan is one option to get instant money in the bank account as Aadhaar card-based loans have quick disbursal times.

How to get a Rs 50,000 Aadhaar card loan?


An individual can qualify for a large-ticket loan of Rs 50,000 Aadhaar card loan, provided they carry a good credit score (preferably over 750), stable net monthly income and lower debt obligations.

What is the EMI for Rs 20,000 Aadhaar card loan for 12 months?


The EMI for a Rs 20,000 loan on Aadhaar card for 12 months is Rs 1,777 at 12% p.a. The total interest outgo is Rs 1,324, subsequently the net repayment will be Rs 2,124

Can students apply for Rs 20,000 Aadhaar card loan?


Students below the age of 18 years are outrightly ineligible for personal loans. There are some banks and NBFCs which offer small-ticket personal loans for students above the age of 18 years.

What is the approval time for Rs 20,000 Aadhaar card loan?


A Rs 20,000 Aadhaar card loans mostly have instant disbursals that may consume 10-15 minutes to an hour. Though, the approval-to-disbursal time may take a couple of hours if the applicant is applying for credit for the first time. This could be different for different lenders and online lending platforms.

What credit score is needed for a Rs 20,000 Aadhaar card loan?


A credit score of 650-700 can help you qualify for a Rs 20,000 Aadhaar card loan, provided you should have low-to-no liabilities and a stable source of income.

Can a salaried person apply for Rs 20,000 Aadhaar card loan, if he is earning Rs 15,000 per month?


Yes, a salaried person with a monthly income of Rs 15,000 can apply for a Rs 20,000 Aadhaar card loan. Though the loan amount and applicable rate of interest are at lenders’ discretion as they carefully examine the eligibility beyond net earnings. This includes the age of applicant, residential status and existing liabilities (if any).

How much loan can I get with a CIBIL score of 700?


The disbursal amount for a loan depends on various factors with CIBIL score being a prime element. The loan amount varies from bank to bank as every lender has its own parameters of examining a customer profile, beyond the standard measures.