Many business dynamics work well with right finances at right time. From start-up firms to MNC big channels, there comes a need to invest at the right time & at a cost. All essential business owners have one common question, how can we avail a hassle-free loan irrespective of the amount?
Here’s one such platform with Buddy Loan. Avail a business loan with Buddy Loan, now! Yes, there are business loan sanctions with 80% approval rate. Minimal documentation & formalities make Buddy Loan unique.
Loan application is completely digital and needs no collateral for loan approvals. However, it only requires bare minimum of documents. Aadhaar is specifically one amongst them. They are a part of KYC (Know Your Customer) requirements as well.
Aadhaar for a business loan!
Buddy Loan dispenses loan in less than expected time. There is access to multiple lenders and hence your financial obligations stand a higher chance to quick solutions. Here, Aadhaar helps connect and process your loan application with the online verification process. It is by law, mandatory to get the right KYC for documentation.
Banks and financial institutions need to stay updated on the latest information of the borrowers. Though various documents can be considered as eligible for KYC (Know Your Customer), Aadhaar card holds the biometrical information of identity, address & visual proof.
However, certain documents like PAN card, Aadhaar letter, driver’s license, Voter IDs and passport can serve as KYC (Know Your Customer) documents too. The requirement on document set depend and vary from lender to lender.
Importance of KYC: Aadhaar card
KYC denotes a borrower’s identity, residence & visual as a proof approved by the government. Aadhaar qualifies all the criterias in one card and serves best while availing a personal loan. However, Aadhaar is not the only document that needs to be submitted while introducing a loan to the borrower.
3 year ago, now in 2018, fintech solutions made Aadhaar card documenting mandatory. In order to open accounts, use ATM cards or avail a personal loan. Government of India officialised the documentation of Aadhaar card details.
Outstation & overseas travel is on the move if you have Aadhaar card handy. The document is similar to a social security card in United States Of America. Directing to a loan, Buddy Loan dispenses quick loans for travel, education, marriage, business & even vehicle loan with Aadhaar & PAN.
They’re available on weekends, 24/7 & need very minimal details to process the loan application. Competitive interest rates starting at 11.99% pa with flexible loan tenures.
In a nutshell:
Aadhaar loans are available with comprehensive documentation, according to the laws passed by the Hon’ble Judge of Supreme Court of India. Customer consents is of major importance in loan documentation. KYC throws detailed light on the orders passed.
Thus, the all purpose document, can help you avail a loan in minutes and increase your chances of loan approval irrespective of the amount. Quick & hassle-free loans are a pleasure in times of emergency with an opportunity to build credibility. Hence, the Aadhaar card is mandatory for borrower’s verification & remains the most preferred document.