What is an AADHAAR credit line?
An Aadhaar-based credit line is a type of loan that is offered to borrowers based on their Aadhaar card, which is a unique identification number issued by the Indian government. This type of credit line allows borrowers to access funds quickly and easily, without the need for extensive documentation or collateral.
The loan amount and interest rate for an Aadhaar-based credit line are determined by the borrower’s credit history, income, and other factors. The loan repayment terms may also be flexible, depending on the lender’s policies.
To apply for an Aadhaar-based credit line, borrowers typically need to provide their Aadhaar number, along with other basic personal and financial information. The lender may then use this information to assess the borrower’s creditworthiness and determine the loan amount and interest rate.