Aadhaar Cash is a digital lending platform that offers personal loans to individuals in need of financial assistance. While the platform has gained popularity in recent years, many people are still skeptical about its legitimacy. In this article, we will explore Aadhaar Cash (Aadhaarcash.Limited) legitimacy, interest rates, and eligibility criteria to help you make an informed decision.
Aadhaar Cash Legitimacy
Aadhaar Cash is a legitimate lending platform that operates in accordance with the laws and regulations of the Reserve Bank of India (RBI). The company is registered with the RBI as an NBFC-P2P (Non-Banking Financial Company – Peer to Peer) lender, which means it operates as an intermediary between borrowers and lenders. The platform is also registered with the Ministry of Corporate Affairs as a private limited company.
Aadhaar Cash Interest Rates
The interest rate offered depends on various factors such as the loan amount, tenure, credit score, and income of the borrower. The interest rates offered by Aadhaar Cash (Aadhaarcash.Limited) are competitive compared to traditional banks and other lending platforms. However, it is important to note that the interest rates offered are subject to change and borrowers should check the latest rates before applying for a loan.
Aadhaar Cash offers you hassle-free financial support up to 50 lakhs at @7.00% ROI with min@7.5% to max@8.5% APR with a repayment period of a min 1 year to a max of 20 years, and zero processing fees.
Suppose,
The Loan Amount is 10,000, Interest Rate is 7% p.a, and Loan Period is 1 Year. Then the total repayment amount after 1 year is 10,000 + 700(7% ROI) = Rs 10,700
Aadhaar Cash Eligibility Criteria
To be eligible for a personal loan from AadhaarCash, the borrower must meet the following criteria:
- Age: The borrower should be between 18 to 65 years of age.
- Employment: The borrower should be employed or self-employed with a stable income.
- Credit Score: Aadhaar Cash checks the credit score of the borrower to determine their creditworthiness. A good credit score indicates that the borrower has a history of timely repayment of loans and credit card bills.
- Income: The borrower should have a minimum income of Rs. 15,000 per month.
- KYC Documents: The borrower should have valid KYC documents such as Aadhaar card, PAN card, and address proof.
How to Apply for a Personal Loan from Aadhaar Cash
To apply for a personal loan from AadhaarCash, follow these simple steps:
- Visit the Aadhaar Cash website or download the Aadhaar Cash (Aadhaarcash.Limited) app from the Google Play Store.
- Register on the platform by providing your personal details such as name, mobile number, and email ID.
- Fill in the loan application form by providing details such as loan amount, tenure, and purpose.
- Upload the necessary documents such as KYC documents, bank statements, and salary slips.
- Wait for the loan approval, which usually takes a few minutes.
- Once the loan is approved, the amount is disbursed to your bank account within 24 to 48 hours.
Benefits of Aadhaar Cash Personal Loans
- Quick Disbursal: Aadhaar Cash (Aadhaarcash.Limited) offers quick disbursal of loans, usually within 24 to 48 hours of loan approval. This helps borrowers to meet their financial needs without any delay.
- Competitive Interest Rates: Aadhaar Cash offers personal loans at competitive interest rates, which are lower than traditional banks and other lending platforms. This helps borrowers to save on interest costs and reduces the burden of loan repayment.
- Flexible Repayment Options: Aadhaar Cash (Aadhaarcash.Limited) offers flexible repayment options that allow borrowers to choose a repayment tenure that suits their financial situation. This helps borrowers to manage their finances better and reduces the stress of loan repayment.
- Easy Application Process: Aadhaar Cash has a simple and user-friendly application process that can be completed online within a few minutes. This saves borrowers the hassle of visiting a bank or lender’s office to apply for a loan.
