pm aadhar card loan yojana 2020 online apply
The government has announced a new scheme whereby people can apply for loans using their Aadhar cards. This article explains how the scheme works and how to apply for it.
What is the pm aadhar card loan yojana 2020 online apply?
The government has announced a new scheme called the PM Aadhaar card loan yojana 2020. The main aim of this scheme is to provide financial assistance to the citizens of India who are in need of money.
This scheme is available for all the citizens of India who have an Aadhaar card. The government will provide a loan amount of up to Rs. 2 lakhs to the eligible candidates.
The interest rate on the loan amount will be 3% per annum. The repayment period of the loan is 5 years.
The government has also decided to waive off the processing fee for this loan scheme. This means that the citizens of India will not have to pay any processing fee for availing this loan.
Those who are interested in applying for this loan can do so by visiting the official website of the government. The last date to apply for this loan is 31st December 2020.
The Different Types of pm aadhar card loan yojana 2020 online apply
There are many different types of pm aadhar card loan yojana 2020 online apply, each with its own set of benefits and drawbacks. The most popular types of loans include:
1. Home equity loans: These loans allow you to borrow against the equity in your home, using your home as collateral. They typically have lower interest rates than other types of loans, but if you default on the loan, you could lose your home.
2. Personal loans: These loans are unsecured, meaning you don’t need to use collateral to qualify. They can be used for a variety of purposes, but they usually come with higher interest rates than other types of loans.
3. Student loans: These loans are available to students who are attending college or university. They typically have low interest rates and flexible repayment terms.
4. Business loans: These loans are available to businesses of all sizes. They can be used for a variety of purposes, but they usually come with higher interest rates than other types of loans.
5. Auto loans: These loans are available to borrowers who are looking to purchase a new or used vehicle. They typically have lower interest rates than other types of loans
Pros and Cons of the pm aadhar card loan yojana 2020 online apply
The pm aadhar card loan yojana 2020 online apply is a great way to get access to funds for your business or personal needs. However, there are some pros and cons that you should be aware of before you apply.
PROS:
-You can get up to 2 lakhs without any collateral.
-The interest rate is only 1% per month.
-You can repay the loan in full within 12 months.
CONS:
-There is a processing fee of Rs. 500 which is payable upfront.
-You will need to have a good credit history to be eligible for the loan.
What are the eligibility requirements for the pm aadhar card loan yojana 2020 online apply?
To be eligible for the pm aadhar card loan yojana 2020 online apply, you must:
– Be an Indian citizen
– Be above the age of 18 years
– Hold a valid aadhar card
– Have a regular source of income
– Have a savings account in any bank in India
How to apply for the pm aadhar card loan yojana 2020 online apply?
The process of applying for the pm aadhar card loan yojana 2020 online is very simple. All you need to do is visit the official website of the scheme and fill out the online application form.
You will need to provide some basic personal and financial information in the form. Once you have submitted the form, you will be able to check your eligibility for the loan.
If you are eligible for the loan, you will be able to choose a repayment plan that suits your needs. You can repay the loan in EMIs or through a lump sum payment.
Once you have repaid the loan, you will be able to get your aadhar card within a few days. The entire process is very simple and convenient, and it can help you get access to funds when you need them the most.