What is e-Aadhaar? Know about its uses & benefits - Loan Trivia


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Monday 13 January 2020

What is e-Aadhaar? Know about its uses & benefits

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The Aadhaar system is a digitized central database that stores identification and biometric information of Indian citizens. Thanks to this facility, you can conveniently carry vital information in a single document and use it to register for services or prove your identity. What’s more, today, you can also download your e-Aadhaar card and use it in lieu of your Aadhaar card. In fact, the Aadhaar Act specifies that the e-Aadhaar is as valid as a physical Aadhaar card for all purposes. The upside of the electronic version is that it reduces the risk of loss, damage or theft as it is stored digitally. 

Now that you know what e-Aadhaar is, learn about some of the ways in which you can use and benefit from it. 

Access it Easily as Long as You’re connected to the Internet 

To access your e-Aadhaar, download it online at any time by simply visiting the official website. The e-Aadhaar card download can be initiated by entering either your enrolment or Aadhaar number and is almost always an instantaneous service. Upon downloading it, you can store it on your laptop or smartphone and thereby, always have it with you. Further, you needn’t worry about it getting into wrong hands as to gain access one has to enter a password. The password is an 8-character code that comprises the first 4 letters of your name and your year of birth. 

File Income Tax With Ease 

Generally, to file income tax returns, you need to present many documents. These include income proof, identity proof, proof of capital gains, address proof, interest certificates and more. However, with your e-Aadhaar in hand, you can meet both identity and address proof requirements. This also makes it easier during verification, resulting in a faster processing time. 

Once you file ITR, you can proceed to e-verify your returns. To do this, your Aadhaar number is of vital importance. You can use the details contained in your e-Aadhaar document to facilitate ITR verification. 

Apply For Your Passport in a Hassle-Free Manner 

The passport is an essential document for all Indians as it a mandatory requirement for international travel and also during registration for certain services. However, applying for this document is both time consuming and tiresome as it has long processing times and a large list of requirements. Nevertheless, if you submit your e-Aadhaar, you expedite the verification of your identity and address. This allows you to get your passport within in a few days as opposed to a few weeks. 

Open a Bank Account Conveniently 

To open a bank account, you’re generally required to show proof of age, address, identity and more. Thankfully, with advancements today, this procedure isn’t as time-consuming as it used to be. However, you can speed it up further by submitting your e-Aadhaar at the time of application as this document contains all the necessary information. The upside being that this data is verified and so, the process for opening an account bypasses that stage. 

Avail Government Services and Subsidies With Ease 

When applying for government services or subsidies, your Aadhaar information may be mandatory. With e-Aadhaar, all you need to do is submit the details and avail the services you’re eligible for. In some instances, you may not even need to separately register for the benefit. So, whether you are looking for an LPG subsidy or interested in getting PMAY benefits on a home loan, you can use your e-Aadhaar to support your application. 

Withdraw From Your Provident Fund Account 

Thanks to the new Aadhaar provisions, you can link your pension account directly to your Aadhaar card. This helps with EPF withdrawals as you can get your claim processed in 5 days. This procedure is otherwise long-winded and would usually take around few months to complete. The e-Aadhaar expedites this as you no longer require the employer’s attestation to make a claim. 

In summary, the e-Aadhaar allows you to enjoy a higher level of convenience when it comes to applying and registering for services. Further, the digital format makes it much easier to access and ensures that you never lose this document. Additionally, e-Aadhaar card benefits also further extend to personal loan applications. Since offers such as the Bajaj Finserv Personal Loan have a minimal requirement for documentation, submitting your e-Aadhaar greatly expedites the application process. By choosing this loan, you can benefit from instant approval for a sanction of up to Rs.25 lakh for a tenor of up to 60 months. To expedite the quick 24-hour loan disbursal, all you have to do is check your pre-approved offer online by entering personal details such as your name and phone number. 

So, download your e-Aadhaar today to avail a wide range of services on the go, without any hassles.

Must Read: How to Get Personal Loan Using Aadhaar Card