Aadhar Card Loan in Chennai

Aadhar Card Loan in Chennai

The capital city of Tamil Nadu, Chennai is home to several renowned destinations like Kapaleeshwarar Temple, Marina Beach, and Santhome Cathedral Basilica. Besides housing major hardware manufacturing, automobile, and technology industries, Chennai earns its nickname “India’s health capital” owing to its extensive healthcare infrastructure. It comprises public and private sector hospitals like TB Sanatorium, National Institute of Siddha, and SRM Medical College Hospital and Research Centre, which draw in a significant percentage of health tourists every year.

Many of these visitors and residents often seek emergency external funding options like Aadhaar card loan in Chennai to keep up with the soaring medical expenses and other financial requirements like accommodation.

What Are The Features Of A Personal Loan Against Aadhar Card?

The government of India introduced the Aadhaar card in 2009 as a single document comprising biometric data, which can act as a proof of identity, age, and residence. It has simplified the KYC verification and application process for personal loans, giving it the name Aadhaar card loan.

This means of funding has gained considerable popularity, given its following features.

  • Adequate Fund Amount

Personal loan providers Chennai offer credit worth up to Rs. 50 lakhs, depending on the borrower’s eligibility.

  • Collateral-free

Applicants do not require pledging any asset to avail a personal loan Chennai. Instead, lenders decide loan approval based on their creditworthiness.

  • No Restriction On Usage

Banks and NBFCs do not demand or monitor the purpose of availing a personal loan on the Aadhaar card. This affords borrowers the liberty to decide the utility of their acquired funds, which can be anything, including:

  • Debt consolidation
  • Expensive gadget purchases
  • Medical bills
  • Lavish wedding expenses
  • Foreign trips
  • Relocating in Chennai
  • Expenses for advanced education
  • Home renovation
  • Funding a start-up

While these benefits might impel more loan-seekers to turn to an instant loan on Aadhaar card, not everyone can make it through the strict approval procedure of this borrowing option.

Who Can Avail An Aadhar Card Loan In Chennai?

With rising delinquency rates, personal loan providers Chennai have become extra vigilant of applicants’ creditworthiness. They make sure only the ones meeting the following parameters are allowed to avail such funds.

  • Employment: Must be a salaried or self-employed individual.
  • Work Experience: Should have been employed with the current company for not less than 1 year.
  • Credit Score: Must not be below 750.
  • Age: Within 21 to 60 years.
  • Monthly Income: Must be per the requirements of the lending institution.

Applicants failing to meet any one of these eligibility criteria might have difficulty getting an Aadhaar card loan in Chennai. Besides, they also need to produce a long list of documents to support their claims of eligibility.

What Are The Documents Required Besides Aadhar Card?

A majority of individuals opting for an emergency loan on Aadhaar card Chennai without getting down to the nitty-gritty must know that it involves several documents besides Aadhaar card. These include:

  • Other KYC documents
  • Recent passport-sized photos
  • Bank account statements for the previous 6 months

Additionally, the documents for employment and income proof have been listed below for –

Salaried Individuals:

  • Employee ID card or certificate
  • Salary slips of the past 3 months.

Self-employed Individuals:

  • Business ownership proof such as a registration certificate, issued by a credible source
  • Audited Profit & Loss statement and Balance sheet for the past 1 year

Such a lengthy documentation process naturally delays loan approval, making it difficult for individuals to avail an immediate loan through this means. Moreover, unsecured nature invites interest rates as high as 23%.

Find yourself stuck in a similar situation?

Address your financial requirements with a gold-backed loan on Aadhaar card instead.

How Can Gold Loan Be More Beneficial?

Any individual failing to meet the requirements for a personal loan or willing to avoid the hassles of such a complex loan procedure altogether can benefit from the following advantages of a gold-backed fund.

  • Gold loans come with relaxed eligibility criteria, which enable individuals even with a low CIBIL score to successfully acquire this means of credit.
  • The list of mandatory documents for gold-backed Aadhaar card pe loan is also comparatively brief, thus, facilitating faster loan disbursal.
  • Cost of borrowing is also low because it’s secured.

If you are struggling to avail collateral-free immediate funds owing to poor credit history, it is time you choose us from among your “Aadhaar card loan provider near me” searches. Pledge your otherwise idle gold jewellery and avail the best offers on loans from Rupeek.

Why Consider Rupeek’s Gold Loan In Chennai?

We aim to make financial aid available to all classes of loan-seekers with various loan schemes to choose from besides the following advantages.

  • Lowest Interest Rates: Get the lowest interest rates on gold loan starting from 0.49% per month. We also offer complementary rebates to customers on frequent instalments of repayment.
  • Instant Disbursal: An online application process and compact documentation facilitate faster approval and disbursal of loan. A Rupeek loan representative will visit your residence post-application to help complete verification and gold appraisal.
  • Higher Loan Amount: Get funds worth till 80% of your gold’s value up to Rs. 1.5 crores with our highest per gram rate. Check accessible loan amount against your collateral using our transparent gold loan calculator.
  • Flexible Repayment Options: Make any payment within the tenure at your convenience or repay in monthly EMIs.
  • Balance Transfer Facility: We extend a loan transfer facility to individuals willing to shift an existing gold loan to Rupeek. After clearing all outstanding payment with the current lender, avail this facility by submitting your loan pledge card along with other necessary documents, and save up to Rs. 12,377 per lakh on interest payment thereafter.

Besides the above benefits, Rupeek also offers a gold overdraft loan facility exclusive to existing customers.

What Is Rupeek’s Gold Overdraft Loan?

Members of our customer base can avail an overdraft loan against gold titled Rupeek Quick. Borrowers can access funds from this sanctioned limit anytime as per their requirements. Additional benefits of this facility include a zero-documentation procedure and interest payment only on the amount withdrawn instead of the entire credit limit.

We also follow a 30-minute loan disbursal policy at select locations in Chennai.

Where Can You Avail Rupeek Services In Chennai?

Apply for an Aadhaar card loan in Chennai against gold on the Rupeek website from the enlisted areas.

  • Tiruvottiyur
  • Perambur
  • Valasaravakkam
  • Kodambakkam
  • Mylapore
  • Vadapalani
  • Maduravoyal
  • Koyambedu
  • Velacheri
  • Tiruvanmiyur
  • Porur
  • Anna Nagar
  • Triplicane
  • Nungambakkam

Do not let living in a metropolis strain your disposable income. Apply for a gold-backed Aadhaar card loan in Chennai from the Rupeek website and enjoy best offers on loan repayment.

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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 a gold-backed loan on Aadhaar card without salary?

Yes, Rupeek offers Aadhaar card loan against gold with minimal documentation, involving only identity and address proof. Our flexible eligibility criteria only require applicants to own adequate gold and be above 18 years of age.

  1. What should I look out for when picking a gold-backed Aadhaar card loan lender?

When shortlisting the best gold loan provider, individuals must look out for the interest rates, gold security, and loan value offered. Moreover, they must also consider repayment procedures and additional charges.

  1. How safe are my gold items with Rupeek?

Our security procedures are ISO 9011:2015 certified. We transport gold items via GPS-secured bags. Upon reaching the nearest partner bank, all collaterals are stored in their secure vaults, where they are kept under 24x7 military-grade surveillance. Additionally, Rupeek offers 100% insurance coverage for pledged gold jewellery against any unforeseen events like damage or theft.

  1. What do I do in case my registered mobile number is altered during an ongoing loan?

If your registered mobile number becomes out of service during an ongoing loan, kindly contact our customer service team to help us update the modified contact information into our database.

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