Aadhar Card Loan in Amritsar

Aadhar Card Loan in Amritsar

Amritsar, or colloquially Ambarsar - is a city in the north-western state of India, Punjab. It is home to the holiest gurudwara of the Sikhs – The Golden Temple. Founded by Guru Ramdas, it is the state’s second-most populous city, with a horde of tourists and pilgrims flocking in to enjoy the grandeur.

Amritsar is a central hub of commerce, culture and transport, with an abundance of historical and religious destinations. This has helped several medium and small business organisations flourish in recent times. With this development, scaling living costs is pushing people towards opting for Aadhaar card loan in Amritsar.

How Can You Avail Loan Against Aadhaar Card?

You are required to fulfil the requisites of the chosen lender. Eligibility criteria of a loan against your Aadhaar card can differ with the financial institution you opt for. Some essential things you must know about are:

  1. It is instrumental in having a credit score of more than 750 to avail maximum benefits. A lower score can hamper eligibility, and you may end up paying higher interest, should your repayment history be irregular.
  2. A steady income source is also a determining factor of Aadhaar loan disbursal amount. Loans are sanctioned based on the applicant’s disposable income and need to meet the lender’s approval requirements.

Hence, one needs to provide income proof to avail an instant cash loan on the Aadhaar card. In the case of medical emergencies or unforeseen incidents, it is not always the most feasible facility to take care of such incurred expenses.

In such a case, a gold-backed Aadhaar card loan in Amritsar is a relief with ease of availability, and an ideal alternative for people looking for ‘Aadhaar card loan near me.

How Is Gold Loan Better Than Aadhaar Card Loan Amritsar?

The following table delineates the primary differences between a gold loan and a traditional Aadhaar card loan in Amritsar.

Points of Difference

Gold Loan

Aadhaar Card Loan

CIBIL score

Lenders are more lenient with a person’s credit score

Financiers are stringent as it is an unsecured loan.

Documents Required

ID and address proof. Lenders may or may not ask for income proof.

Income proof is a must besides the Aadhaar card.

Borrowing Cost

It is lower because it’s less risky.

It is higher because it’s riskier.

The advantages of a gold loan over a quick personal loan using Aadhaar extend beyond these points. Rupeek offers a host of benefits to increase borrowers’ convenience with various repayment schemes to suit your needs.

Salient Services You Can Get With Rupeek Gold Loan

A list of benefits you can get from Rupeek gold loans is elucidated below.

  1. Industry-Low Interest Rates: At as low as a 0.49% rate of interest monthly, Rupeek gold loan eases the repayment and provides relief with the interest amount.
  2. Online Application Process: If you are looking to apply for a gold loan from Rupeek, all you need to do is register on our website using your mobile phone number. Our representative will contact you for further details regarding your gold loan requirements.
  • Doorstep Service: After you finish the application process, our loan manager will reach your preferred location for KYC verification and evaluation of the gold you plan to pledge. With the completion of this process, the amount will be credited in your account.
  1. Robust Security: We use GPS tracker-fitted bags to carry your valuable from your location to the agreed partner bank vault. Despite being highly secure, Rupeek offers complimentary coverage insurance to safeguard your valuables further.
  2. Quick Disbursal: As there is lesser paperwork, disbursal of gold loans is faster than other forms of secured loans. The process of completion and disbursal collectively take around 45 – 60 minutes and helps during emergencies.
  3. Repayment Flexibility: Gold loan repayment schemes are in abundance, which you can choose as per your requirements and financial liabilities to be taken care of.
  • High LTV: Rupeek also provides an industry high LTV or loan-to-value ratio, which goes up to 80%. This plays a key role when you are trying to avail a high-value loan. You can also check the estimate of your gold ornaments through Rupeek’s gold loan calculator.
  • Rupeek Gold Overdraft: If you are not looking to pay interest for the entire credit amount, Rupeek Quick or overdraft facility is the right pick for you. It enables you to get an extended credit limit on the basis of gold’s value you are willing to pledge.

What’s more, you need to pay interest only on the withdrawn amount of the extended credit line approved for you, on the basis of the time for which you are availing the money.

Rupeek’s Service Locations In Amritsar

Our service locations for Aadhaar card loan in Amritsar include:

  • Katra Ahluwalia
  • Baba Bakala
  • Grant Trunk Road
  • Ajnala
  • Beas
  • Goal Bagh
  • Verka
  • Majitha
  • Lawrence Road
  • Medical Enclave
  • Chheharta
  • Ramdass

A gold-backed Aadhaar card loan in Amritsar from Rupeek gives you the freedom to choose any repayment scheme you want, at minimal interest rates. It offers the scope of availing high-value funds at very short notice. Apply today!

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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. Can I get Aadhaar card loan with a PAN card?

You need Aadhaar card to apply for an Aadhaar loan. A lender may ask you to provide your PAN card details additionally as part of the verification process.

  1. Are Aadhaar card loans same as credit card loans?

No. Although these are both unsecured loans, credit card loans require you to own a credit card, whereas, to apply for an Aadhaar loan, you need to have the Aadhaar Card issued by the Indian government.

  1. Is Aadhaar card loan a suitable alternative to a car loan?

Yes. However, the disbursal amount will vary upon factors like your disposable income, credit score, and repayment history.

  1. Does Rupeek accept all kinds of gold accessories?

No, we accept only gold jewellery of purity that is 18 carats or above. Gold bars or coins are not accepted modes of collateral for gold loans.

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