How to Apply for a 3 Lakh Loan on Aadhaar Card?

3 lakh loan on aadhar card

Are you looking to apply for a 3 lakh personal loan without any hassle? Wondering if there is any chance to avail of personal loans with only minimum documents? If yes, Aadhaar loans can be a great option for you.

personal loan

Applying for personal loans used to be tedious and time-consuming. You’d need to compromise your work schedule, visit banks, carry all the necessary documents, and then apply for loans.

But thankfully it’s a lot easier now. You can apply for personal loans online using your Aadhaar card and receive the loan amount in your bank account in 24-48 hours. All this from the comfort of your home, via your smartphone.

In this blog, we discuss Aadhaar loans with their benefits and the best way to apply for a 3 lakh personal loan on Aadhaar card.

What is an Aadhaar Card Loan?

Aadhaar card loan is a type of personal loan that lenders approve primarily with a single document: Aadhaar card. Before approving loans, lenders must complete the KYC process to verify the authenticity of borrowers. If it was before, borrowers need to submit multiple documents to the lenders for KYC verification.

But now, the Aadhaar card serves as identity and address proof with other details like age, phone number, and biometric credentials. Lenders can quickly complete the KYC verification with your Aadhaar card.

This makes the entire loan approval process simple, convenient, and hassle-free for both lenders and borrowers. The best part? You can apply for both small cash loans and larger amount loans on Aadhaar card.

Also, Read: How To Get a 10000 Loan On Aadhaar Card?

Benefits of Applying for a 3 Lakh Loan on Aadhaar Card

Wondering why Aadhaar loans are popular among borrowers? Take a look at the benefits it offers.

1. Minimal Documentation

You don’t have to carry multiple documents anymore to get a personal loan. With Aadhaar loans, you only need your Aadhaar card to get approved and some lenders might also ask for your PAN card.

2. Quick Verification and Disbursal

Lenders can complete the KYC process with your Aadhaar card as it provides all necessary details such as age, identity, address, and phone number.

This makes the verification process efficient allowing lenders to disburse the amount quickly. Online lending marketplaces like Credmudra offer “same-day” disbursal to help borrowers address financial emergencies on time.

3. Collateral-Free

Personal loans on Aadhaar cards are collateral-free, meaning you don’t need to pledge your assets as collateral or security. Instead, lenders verify income, credit score, and DTI ratio to assess your creditworthiness and approve Aadhaar loans.

4. Competitive Interest Rates

Having a stable income with a credit score above 700? You can avail Aadhaar loan with interest rates for as low as 10.73%. Even when your credit score is bad, lenders approve Aadhaar loans with flexible interest rates based on your current income and credit history.

5. Flexible Repayment Tenure

Worried if you can repay the loan amount with a flexible EMI that fits your pocket? Online lenders offer flexible repayment tenure allowing you to decide on monthly installments and the loan tenure.

6. Digital Process

Choose a complete digital application process and get a loan from the comfort of your home. Eliminate lengthy paperwork and submit the scanned copy of your documents and signature to get a personal loan.

Also, Read:  How to Apply for a ₹1000 Loan on Aadhaar Card?

Eligibility Criteria for 3 Lakh Loan on Aadhaar Card

Confirm that you’re eligible using the following criteria.

  • Age: 18-60 years old
  • Citizenship: Indian
  • Employment: Self-employed or salaried individuals
  • Work Experience: More than two years of experience
  • Income: Lenders expect a minimum salary of Rs.15000
  • Credit Score: Above 700

Documents Required For 3 Lakh Loan on Aadhaar Card

This Aadhaar loan requires only minimum documents.

  • Identity Proof: Aadhaar card or PAN card
  • Address Proof: Aadhaar card, utility bills, or driver’s license
  • Income Proof: Bank statements for the past six months, pay slips, and tax reports

Interest Rate on 3 Lakh Loan on Aadhaar Card

Interest rates vary according to different lenders and it also depends on your income, credit score, debt-to-income ratio, and employment history. Check the image below to know how different lenders offer competitive interest rates.

mPOKKET0%-48.0% per annum
MoneyTap1.08% per month onward
CASHe2.50% per month
Axis Bank10.49%-22.0% per annum
IDFC FIRST Bank10.49%-36.0% per annum
HDFC Bank10.50%-24.0% per annum
ICICI BANK10.75%- 19.0% per annum
Bajaj Finance10.99% per annum
Kotak Mahindra Bank11.0%-39.0% per annum

Also, Read: How to Get Rs 3 Lakh Loan Without Documents?

Calculate the EMI for a 3 Lakh Personal Loan on Aadhaar Card

Use this mathematical expression to calculate the EMI for this 3 lakh loan.

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

P – Principal Amount
R – Rate of interest
N – Number of years or months

Let’s say you apply for a 3 lakh amount at an interest rate of 12% for 36 months.

EMI = {300000×12×(1+12)^36}/{(1+12)^35}

Use a calculator to complete the calculation. Or else, use Credmudra’s free EMI calculator.

Personal Loan of 3 Lakh EMI: Tenure 1-5 years

Take a look at the EMI for this 3 lakh Aadhaar loan at an interest rate of 12%.

Loan Amount Interest RateTenureEMI
3,00,000/-12%1 27,083/-

Where Can I Get a 3 Lakh Loan on an Aadhaar Card?

You can visit your bank and apply for a 3 Lakh loan on an Aadhaar card. If you’re looking to borrow money from online lending marketplaces, here is the step-by-step process.

  • Research the Lender: Before applying, confirm that the lender is credible to avoid scams and fraudulent activities. Look for lenders and check their ratings, reviews, security protocols, and data privacy standards.
  • Check their Eligibility Criteria: Ready with a list of credible lenders? Check their eligibility criteria and confirm that you’re eligible to apply for the loan
  • Check Other Details: Compare interest rates, repayment tenure, EMI, and the disbursal time of different lenders. Based on this, finalize the lender that suits your financial condition to apply for a 3 lakh loan. If choosing the lender single-handedly seems tough, use Credmudra’s matchmaker to choose the best lender for you. Credmudra takes the heavy lifting and lets you focus on your work. It chooses the best lender for you based on your expectations and makes the entire loan approval process seamless and convenient. 
  • Apply for the Loan: Visit the lender’s website and submit your details such as age, income, Aadhaar and PAN card number, and employment address. Lenders will verify your application and finalize the loan amount and tenure. Get the loan amount to your bank account in 24 hours

Also, Read: How to Get Rs. 2 lakh Personal Loan on Aadhaar Card?

How to Apply for a 3 Lakh Loan on Aadhaar Card?

Here’s how the step-by-step application process looks like when you apply for a 3 lakh personal loan on aadhaar card .

1. Enter your Mobile Number: Visit Credmudra’s website and enter your mobile number. You’ll receive an OTP, enter the password to begin the process.

2. Submit your Details: Fill the details such as your age, residential address, salary, work address, PAN card number and Aadhaar number.

3. Apply for a 3 Lakh Loan: Once you submit your personal details, then choose the loan amount and repayment tenure.

4. Connect with the Lender: Credmudra will connect you with the best lender who shows the highest chances of approving your loan.

5. Verification and Loan Disbursal: Submit the scanned copy of documents such as Aadhaar card, PAN card and bank statements. The lender will verify your application, approve the loan in less than 3 minutes and disburse the amount in 24 hours.

Credmudra’s loan approval process is seamless and efficient to help borrowers address any financial emergency within 24 hours.


Ditch the conventional method of visiting banks and facing inconveniences in applying for personal loans.

With Credmudra, apply online, eliminate the paperwork, and get the loan amount from the comfort of your home.

We’ll match you with the best lender based on your loan’s purpose and expectations. Get approved in less than 3 minutes with additional benefits such as affordable interest rates, minimal documentation, and no restrictions on end-usage.

Sign up on Credmudra and address the financial emergency on time.

Also, Read: Apply for a Rs. 50,000 loan on an Aadhaar Card


1. When will I Receive the 3 Lakh Loan Amount if I Apply using Credmudra?

Submit your application and Credmudra will match you with a suitable lender. The lender will verify your application and approve the loan in less than 3 minutes. You’ll receive the loan amount within 24 hours.

2. Can I Apply for Personal Loans only using my Aadhaar Loan?

Yes, you can apply for personal loans only using your Aadhaar card. Additionally, you need to submit pay slips, and bank statements for the past 6 months.

3. What is the Interest Rate for a 3 Lakh Personal Loan on an Aadhaar Card?

The average interest rates of different lenders range from 12.5% to 24%.

4. Can I Get a Personal Loan without a Credit Score?

A good credit score, probably around 700, is necessary. Only some online lenders approve loans with low credit scores.

5. What are the Documents Required to Apply for a 3 Lakh Personal Loan?

You only need your Aadhaar card and it serves as identity and address proof. Additionally, you need to submit address proof and bank statements for the past months.

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