Need a personal loan? Here’s how to get instant cash via Aadhaar Card

You may search for and apply for the best personal loans online. The bank validates your identity using your Aadhaar card and deposits funds into your account within a few days.

New Delhi: Personal loans have never been easier to obtain than they are now, thanks to digital technology. The entire process used to take many days before digitalization. People in need of money had to hunt for family and acquaintances who could lend them the money they needed back in the day. The biggest personal loans can now be availed in as little as 24-48 hours, without the need to take a day off work.

You won't have to go from bank to bank looking for information on eligibility requirements, interest rates, and how to apply for and obtain the best personal loans. You may search for and apply for the best personal loans online. The bank validates your identity using your Aadhaar card and deposits funds into your account within a few days. But what exactly is KYC? Continue reading to discover

KYC stands for "Know Your Customer," and it aids financial organisations in combating financial crimes, money laundering, and proper customer identification. It was implemented in 2004 when the Reserve Bank of India made client verification mandatory for all banks and financial organisations. Your bank uses it to verify your identification when you apply for a personal loan.

ID card verification, face verification, address verification, and biometric verification are all part of the KYC process. Your Aadhaar card is the paperwork that allows the bank to check all of this information about you and ensure that it is accurate. Because the entire process takes place online, it's known as eKYC, or Electronic Know Your Customer.

You must first evaluate your eligibility before applying for a personal loan using your Aadhaar card.