In an era where digital solutions are revolutionizing every aspect of our lives, managing personal documents can still be a hassle, especially when you're applying for a personal loan. Enter Digilocker, a platform that promises to transform this landscape by providing a secure and accessible digital locker for all your important documents.
Digilocker streamlines the personal loan application process by providing secure, instant access to important KYC documents, such as the Aadhaar card, which are essential for meeting lenders' loan eligibility criteria. It allows applicants to share verified digital copies of documents with financial institutions directly, thereby speeding up the verification process and reducing paperwork. Moreover, Digilocker's government-backed platform ensures that the documents are authentic, which builds trust with lenders and facilitates a smoother loan approval process.
This article will guide you through creating a Digilocker account, a step crucial for anyone looking to streamline their loan application process through efficient access to their KYC (Know Your Customer) documents.
What is DigiLocker?
DigiLocker is a digital platform provided by the Indian Ministry of Electronics and Information Technology (MeitY) under the Digital India initiative. The objective is to provide every citizen with a secure digital repository where they can access their essential documents anytime and anywhere. These documents encompass educational certificates, identity proofs, health records, and more.
Documents stored in DigiLocker are considered equivalent to their original physical counterparts, thereby reducing reliance on physical copies and enabling the seamless sharing of electronic documents. Documents issued through DigiLocker hold legal validity under the Indian Information Technology Act of 2000.
Upon registration on the platform, users can upload all necessary documents in DigiLocker and ensure their safety through personalised cloud storage linked to their Aadhaar card. This initiative aligns with the Indian government's vision of the Digital India project, promoting efficient digital document management and enhancing accessibility to essential services for all citizens.
Steps to create a DigiLocker account
Follow these steps to create a DigiLocker account:
- Visit the official website: Go to the Digilocker website or download the DigiLocker app.
- Sign up: Click on the 'Sign Up' button and enter your mobile number.
- OTP verification: You will receive an OTP on your mobile phone; enter this for verification.
- Set username and password: Choose a username and password for your account.
- Link Aadhaar: For full access to services, link your Aadhaar number by entering it and verifying it with an OTP sent to the mobile number registered with your Aadhaar.
- Completion: Once linked, you can access your issued documents and upload additional documents.
If you do not have an Aadhaar card and wish to use DigiLocker, select the option “Don’t have Aadhaar? Continue Here” during the signup process. This option allows you to create a DigiLocker account even without your Aadhaar card.
Additional read - How to use Digilocker account
Advantages and disadvantages of DigiLocker
Advantages:
- Security: Offers a highly secure environment for storing personal documents.
- Convenience: Easy access to documents anytime, anywhere, streamlining the loan application process.
- Eco-Friendly: Reduces the need for physical documents, contributing to environmental conservation.
- Government Verified: Direct access to government-issued documents, which can be shared digitally with verifying agencies without fear of forgery.
Disadvantages:
- Internet Dependence: Requires an internet connection for access.
- Awareness: Not all institutions may be aware of or accept Digilocker documents, although this is rapidly changing.
How to upload documents to your DigiLocker Account
Uploading documents to your Digilocker account is a breeze:
- Login to your account: Use your username and password to access your Digilocker account.
- Upload document: Navigate to the 'Uploaded Documents' section and click on 'Upload'.
- Select files: Choose the document files from your computer or mobile device. Ensure they are in a supported format (PDF, JPG, PNG, etc.).
- Name and save: Assign a document type and name, then save the document to your account.
Conclusion
In summary, Digilocker stands out as an essential digital tool for anyone applying for personal loans. By enabling easy access to KYC documents and facilitating a streamlined loan application process, it not only saves time but also enhances the security of personal information. As we move towards more digital governance, utilizing platforms like Digilocker for document management is not just convenient but necessary for an efficient and eco-friendly lifestyle.
Know more about our eligibility criteria and the documents required, upload the required documents in the DigiLocker and apply for our personal loan effortlessly.
