Aadhar Card Loan in Ahmedabad

Aadhar Card Loan in Ahmedabad

The former capital of Gujarat, Ahmedabad, is also the largest city in the state. It has recently emerged as one of the country’s significant industrial and economic hubs. Ahmedabad hosts India’s second oldest stock exchange and is the second-largest producer of cotton.

With a rich history and strong industrial growth, it is one of Forbes’s fastest-growing cities. The city has numerous gemstone and automobile businesses thriving in its epicentre. Ahmedabad is also home to two of India’s largest pharmaceutical companies, namely Torrent Pharmaceuticals and Zydus Cadila.

Flourishing economic activities in this city has led to improved living standards in recent years. One can avail an Aadhaar card loan in Ahmedabad to deal with expenses too large to be covered by savings or to ensure smart financial management.

What Is A Loan On Aadhaar Card?

These are no different from any other type of personal loan. Alongside the Aadhaar card, one still has to submit a few other documents depending upon their employment status. These are offered by several different types of financial institutions such as NBFCs, banks, etc.

Typically, lending institutions ask for the following documents during Aadhaar card loan apply online

  1. For Salaried Applicants
  • Bank statements and latest salary slips
  • Copy of ID card
  • ITR
  1. For Self-employed Persons
  • Income proof like Income Tax Return of the previous two years, company Balance Sheet or P&L statement (audited).
  • Documents like proof of business existence, Certificate of incorporation, Registration certificate, or Partnership deed.

An individual also needs to fulfil a list of eligibility criteria to apply for a personal loan on Aadhaar card Ahmedabad.

Who Can Qualify For An Aadhaar Card Loan?

As these are unsecured credit products, lenders observe extra caution. Due to the high risk, they keep their eligibility requirements stringent. If you want to apply for an Aadhaar card loan in Ahmedabad, you should satisfy the following criteria.

  • 1 year+ employment history at least
  • Minimum income of Rs. 15000
  • Below 50% fixed income-to-obligation ratio
  • CIBIL score above 750.

One should provide all the mentioned documents and fulfil the required eligibility to access this financing option. However, under emergency circumstances, it is possible that one does not have their income proof ready. A high credit score requirement also makes this option inaccessible to certain individuals.

These can bar one from availing a quick personal loan using Aadhaar, but that does not mean they do not require urgent funding. If you are also looking for “Aadhaar card loan lender near me”, availing the variant that comes against gold may be wiser.

Why A Gold Loan?

While there are several benefits of availing a gold loan, the specific factors that make it a better alternative to its conventional counterpart are:

  • Eligibility

Compared to the list of requirements for a loan on Aadhaar card, any individual who is older than 18 years is eligible to apply for a gold loan.

  • Loan Amount

It is decided based on the value of gold pledged by the borrower instead of their monthly income.

  • Availability

As these are secured credit products, more lenders are willing to provide them. The high market value and liquidity of gold also makes them better collateral than other assets, and it further enhances its popularity among lenders.

  • Utilisation Of Idle Asset

Gold does not benefit one substantially when kept inside the locker. This way, you can mobilise your idle asset to secure considerable funding.

To add to these advantages, when you avail of a gold loan from Rupeek, you get a lot more than a standard gold-backed Aadhaar card loan in Ahmedabad.

How Can Rupeek’s Gold Loan Help?

When you opt for our gold-loan, you stand to benefit from an array of advantages and facilities. Apart from the standard benefits of a gold-backed credit facility, we also provide Rupeek-exclusive facilities that you will not get anywhere else. These are,

  • Lenient Documentation

We only need KYC documents and rent agreement/latest utility bills to sanction an emergency loan on Aadhaar card Ahmedabad. Meet urgent expenses at once this way.

  • Vast Loan Amount Range

We offer a loan as low as Rs. 15,000 and it can be up to Rs. 1.5 crores. This broad range helps individuals only avail the amount they require, letting them avoid unnecessary strain.

  • Quick Approval

If one is looking for an immediate loan, our gold-backed credit facility is perfect. Our gold loan takes only 60 minutes to get approved.

  • Overdraft Loan Facility

Our customers can get an extended credit line through our overdraft facility called Rupeek Quick. With this, you can withdraw small amounts from the approved credit limit round the clock. You will only be charged interest on the amount that you have used and not the entire limit.

  • Multiple Repayment Methods

You can repay our gold-backed Aadhaar card loan in Ahmedabad by choosing either of the two repayment schemes offered by us. You can pay it in monthly EMIS or however you want during the tenure.

  • Short Repayment Tenure

We do not want to make our credit facility a burden on our customers. Thus, we start our repayment tenure from as less as six months. This way, an individual will not have to carry its pressure for years and can be done repaying within a single year.

We also offer a doorstep loan service that ensures your utmost convenience. All you have to do is apply for a loan, and our representative will visit your house or office. They will carry out the necessary formalities thereby. Our representative will leave after the approved amount has been credited to your account.

Finding personal loan provides Ahmedabad is not a hassle any longer. We operate in almost every major location in this city.

Where Do We Offer Services In Ahmedabad?

You can find our representatives in the following locations of the city. We also have several partnered banks in these areas.

  • Chandkheda
  • Khadia
  • Sabarmati
  • Asarwa
  • Satellite Road
  • Navrangpura
  • Vastrapur
  • Lal Darwaja
  • Maninagar
  • Bapunagar
  • Naroda
  • Manek Chowk
  • Bopal
  • CTM Char Rasta

While an Aadhaar card loan is significantly easier to avail than other forms of personal loan, its unsecured version comes with certain disadvantages. With our gold-backed loan, you can easily avoid issues like stringent eligibility and high rates of interest. Hence, if you are in an urgent need of capital, opt for our secured credit facility instead.

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Benefits of Gold Loan over Aadhar Card Loan.
  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
  • 20 lakh
Comparision Parameters Aadhar Card Loan Gold Loan
Interest Rate 2.39% 0.49%
Monthly Interest Amount
Eligibility & Documentation More Documents Needed Only KYC Needed
Processing Time & Disbursement 2 days to 1 week Within a day
Required Gold Weight -
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Frequently asked questions

  1. What is the lowest Aadhaar card loan interest rate?

It depends on the financial institution and the type of Aadhaar card loan. Usually, interest rates on unsecured loans start from 11% p.a. Our starting interest rate is 0.49% per month.

  1. Does Rupeek take gold bars as pledged item for Aadhaar card loan?

No, we only accept gold jewellery as pledged items at present. Any other gold article, such as gold bars or coins, is not accepted.

  1. Can I get a Rupeek gold loan with low CIBIL score?

You can get our gold-backed credit product irrespective of how high or low your CIBIL score is. Your credit history is not a deciding factor for us, and individuals with no credit history can also avail our loan.

  1. Can I get a collateral-free loan against Aadhaar card with a 600 CIBIL score?

It is improbable for a lender to approve a loan when the applicant has a CIBIL score of 600. However, a handful of institutions provide loan to such borrowers, but at a significantly high interest rate.

  1. Can I use an Aadhaar card loan to pay my rental bills?

Yes, these loans do not have any end-use restrictions, and one can use their money to finance whatever they want to. You can pay your rental bills, finance child’s education, purchase commodities and a lot more.

  1. Do I need a co-applicant to apply for a loan using Aadhaar card?

No, most institutions do not require a co-applicant for this type of loan. Though there are exceptions to this and you might come across an institution where it is mandatory.

  1. Can I apply for a Rupeek gold loan if I am 70 years old?

Although our eligibility criteria state that one needs to be 18 years old or above, there is no upper limit set. Even an individual who is 70 years old can easily avail our gold loan.

  1. How can I earn refunds on gold-backed Aadhaar card loan repayment?

You will be eligible for a refund if you repay regularly. Frequent repayments can earn you a higher rebate on the repayable amount.

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