Is Aadhaar Card Mandatory for a quick medical loan?

Posted by buddy loan on February 12th, 2021

Personal loan documents are very easy to dodge & get the right turn of approvals instantly. To cut down the hassles of local address proof, identity proof & visual identity proofs, the government has marked laws on linking Aadhaar for the online verification process.

Buddy Loan, an aggregator known for its’ 80% approval rate reputation in the industry. Understand that it dispenses unsecured personal loan with rewarding app features. Download the app and enable services with just filling in few details.

Documents are necessary while applying for a personal loan. However, the application requires 2 must show documents for any amount of you avail. At Buddy Loan, the instant medical loan with lower interest rates are approved but with no collateral.

During a medical emergency:

Emergencies are uncertain and based on these documents provided, the issuing party will either approve or deny the loan to the corresponding applicant. As a result, the applicants needn’t present physical documents while availing an Aadhar loan. Though the requirement may vary from lender to lender marginally.

Buddy Loan, has a wide network of distributors like the NBFCs, banks & financial firms as PANIndia fintech solution. Holding your documents and presenting them at the right time, enables easier loan process. In case of medical emergencies, personal loan eases your financial tension without any obligations.

Aadhaar card as approval card:

Buddy Loan encompasses a personal loan sanction with an online verification process using paperless or e-KYC document. Aadhaar card is preferred here due to the 360 eligibility criteria for biometric verification. 

The nature of these documents can also be affected by the fact of whether or not the applicant is self-employed or a salaried individual. The fund policies demand documentation of the applicant’s identity & requirement.

However, in the case of an applicant of a medical loan does not have an Aadhaar card, they can submit another official government document as proof. This can come from the applicant's voter ID card, Passport, driver's license, etc.

Conclusion:

Submitting Aadhaar certifies your self that you’re eligible for applying on a personal loan of the required amount. Aadhaar card beside serving as a proof of identity it also can serve as proof of nationality when applying to certain services and programs or related to government.

A large percentage of banks demand aadhaar card for proof of identity and proof of address as it makes the whole process of verification and authentication simpler. There are many loan-providing organizations like Buddy Loan that provide instant medical loans with minimal documentation.