Ration Card Loan Yojna: Ration card is a family identity card. Now loan facility is being provided by many government banks through ration card. If you need a loan to run a small business, study or meet other needs, then let us tell you that you can take a loan of Rs 10 lakh from ration card.

In this article, we will tell you how to take loan from ration card? Benefits of ration card loan, what documents will be required for loan? We will tell you all the information related to the loan application process, so stay in the post till the end.

What is the scheme

Ration card loan is the best option for those who need money immediately from ration card. You can take a loan of Rs 50 thousand to Rs 10 lakh from ration card. You will not need much documents to get this loan.

You can take loan very easily from ration card. Let us tell you that some interest has to be paid on ration card loan, but here the interest rate is decided on the basis of the credit score of the applicant. Here you will have to pay interest between 10% to 22% on the loan. If your credit score is better then you will have to pay less interest on the loan.

Eligibility for ration card loan

  • The age of the person applying should be between 18 to 60 years.
  • The applicant should be an Indian resident only then the loan will be available.
  • It is necessary for the applicant’s family to have a ration card.
  • The monthly income of the applicant’s family should be Rs 15 thousand or more.
  • If the applicant’s credit score is better, the loan is available quickly.

Required documents

  • Ration card
  • Aadhaar card
  • PAN card
  • Voter ID
  • Residence certificate
  • Electricity bill
  • Water bill
  • Gas connection bill
  • Income certificate
  • Salary slip
  • Bank statement
  • Passport size photo

How to apply?

  • First of all go to the official website of the bank from which you want to take a loan.
  • On the home page, you have to click on Personal Loan and then click on Ration Card Loan.
  • After this you have to fill in your personal information.
  • Then all the necessary documents will have to be scanned and uploaded.
  • After this, finally you will have to submit the application.
  • After submitting the application, you will have to wait for loan approval.
  • After this, as soon as the loan is approved, the loan amount will be deposited in your account.