Your Aadhaar Can Give You Rs 60,000 Instant Cardless Loan At Flipkart, Amazon!

Both Amazon and Flipkart are leaving no stone unturned to attract new buyers.

get instant Aadhaar based loans
get instant Aadhaar based loans

This festive season, every ecommerce portal is trying their best to lure customers, and offer the best possible deal.

But this festive season sale, there is a new element: Instant cardless loan upto Rs 60,000!

You will need your Aadhaar and/or PAN Card for the same.

Here is how you can avail this instant loan:

Instant Cardless Loan On Flipkart: Step By Step Process

  • Open the Flipkart app
  • In the left hand menu option, you can see “Cardless Credit Option” (If you are not able to see this option, then it means: (either your app is not updated, or you are not eligible for the credit line)
  • Click on that, and then tap “Apply Now”
  • You will be presented with terms and conditions. It is advised that you read it.
  • EMI upto 6 months wont have any additional interest charged. However, EMI of 9 to 12 months will have 25% interest per annum.
  • In the next screen, you will be asked to enter your Aadhaar and PAN Card number. Please make ensure that the phone number attached with your Flipkart account is the same which is linked with your Aadhaar. This way, the processing will be fast, and smooth.
  • Based on your purchase history, and credit score, Flipkart will allocate an amount upto which you can purchase now, and pay later in EMI. Credit line upto Rs 60,000 will be offered.

Instant Cardless Loan On Amazon: Step By Step Process

  • Open Amazon App
  • In the left hand side menu option, open Amazon Pay
  • If you are not registered, then register yourself.
  • Then click on Amazon Pay EMI (Get Started)
  • If you are eligible for the credit line, then you will see “You are Selected” message.
  • Below, you will see “Check Eligible Amount” message. Click on that.
  • Enter Aahdaar and PAN Card details, accept the Terms and Conditions, and set-up a payment method.
  • Again, it is advised that you enter the mobile number which is linked with your Aadhaar card for smooth processing.
  • Once done, you will receive a SMS, stating the amount of credit line which has been allocated for you. Now, shop and then pay later.

Is This Legal?

Some legal experts are stating that this is not legal, as both Flipkart and Amazon have placed mandatory requirement to furnish Aadhaar details.

Recently, Supreme Court abolished Section 57 of the Aadhaar Act, thereby prohibiting 3rd parties and private companies from storing Aadhaar data. This is the reason offline methods of eKYC using Aadhaar has become popular.

Both Flipkart and Amazon have stated that they are not breaking any laws.

None the less, it is bonanza time for online shoppers, as they can now shop without any worries. It would be interesting to observe whether Govt allows this credit scheme from Amazon and Flipkart or not.

Also Read: 7 Tips To Save Extra Money On Festive Sales: Flipkart, Amazon, Paytm & More!

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