Aadhar Card Loan in Coimbatore

Aadhar Card Loan in Coimbatore

Coimbatore, the second largest city of Tamil Nadu, is situated on the banks of the Noyyal River and is regarded as the textile capital of South India. Bounded by the Western Ghats, this city is renowned for housing some of the most popular tourist attractions such as the Gass Forest Museum and Ukkadam-Valankulam Lake.

Moreover, Coimbatore is considered as a central hub for manufacturing industries. Being home to over 20,000 MSMEs, it is one of the fastest-growing cities in India. The engineering and textile industries play a vital role in this flourishing economy.

Owing to the steady economic growth, the standard of living in Coimbatore has also improved. As a result, credit consumption in this city has considerably increased. Individuals are now opting for an Aadhaar card loan in Coimbatore to fulfil various personal financial requirements instead of liquidating their savings.

What Is An Aadhar Card Loan?

An Aadhaar card loan is a personal loan that can be availed from a financial institution by submitting the Aadhaar card as proof of identity and address. It is an unsecured form of credit. Hence, no collateral is required. One can avail an emergency loan on Aadhar card Coimbatore to meet various expenses, such as child’s education, weddings, medical emergencies and more.

Moreover, as Aadhaar cards contain individuals’ biometric details, financial institutions have started e-KYC to simplify the application procedure. Hence, if you’re looking for a paperless loan Coimbatore, this is an option worth considering.

Eligibility Criteria For Aadhaar Card Loan In Coimbatore

By fulfilling the following eligibility criteria, you can avail a quick personal loan using Aadhaar:

  • Age: An applicant must be aged between 21 and 60 years.
  • Stable Source Of Income: An applicant must be a salaried or self-employed individual with a steady income source.
  • Credit Score: The applicant must have a credit score of 750 and above
  • Nationality: Individuals applying for a personal loan must be a residing citizen of India

Besides fulfilling the eligibility criteria, individuals must submit a long list of documents to avail an instant cash loan on Aadhaar.

The list of documents includes the following:

  • Aadhaar card
  • PAN card
  • Latest salary slips
  • Bank account statement of the last 6 months
  • ITRs of the past 2 years

Depending upon the financial institution, the documentation process for an Aadhaar and PAN card loan varies for salaried and self-employed individuals. To know more about the application process in detail, individuals can search “Aadhaar card loan provider near me”.

As one can observe, meeting the strict eligibility criteria of an Aadhaar card loan in Coimbatore can be a struggle for many individuals. Moreover, the tedious documentation can be quite taxing. Hence, most individuals are now opting for better alternatives, such as a gold loan.

Gold Loan – An Ideal Replacement

A gold loan is a type of secured loan that a borrower can avail by pledging gold ornaments. Contrary to immediate loans against Aadhaar cards, a gold loan application procedure involves minimal documentation and more straightforward eligibility criteria. Moreover, based upon the choice of your gold loan provider, the features tend to vary.

However, the unique solutions and the additional facilities provided by Rupeek has made it one of the most preferred gold loan providers in India.

Benefits Of Choosing Rupeek’s Gold Loan

Individuals opting for our gold loan instead of an Aadhaar card loan in Coimbatore can enjoy the following benefits:

  • Hassle-free Documentation Process

Our application process involves minimal documentation. You can gain access to funds instantly by just submitting KYC documents. Hence, applicants not having income-related documents such as salary slips and ITRs can also avail financial assistance from us.

  • Finance All Expenses

The sanctioned loan amount comes without end-use limitations. Individuals can fulfil all types of financial requirement. Nevertheless, it’s essential to note that using the loan amount for illegal activities is strictly prohibited.

  • Doorstep Service

We offer a doorstep loan, enabling you to avail a gold loan from the comfort of your house. Once you apply via our app, we’ll authorise a trained executive, who will reach your location as per the scheduled time to complete the KYC and gold valuation process.

  • Relaxed Eligibility Criteria

We have lenient eligibility criteria; you can opt for our gold loan even if you have a low CIBIL score. Moreover, there are no age restrictions, unlike an Aadhaar card loan in Coimbatore. Applicants above 18 years of age can apply for a gold loan with us. Hence, if you’re looking for a loan on Aadhaar card without salary documents, this is your go-to option.

  • Maximum Security

We have collaborated with some of the leading lending institutions to ensure that your gold is 100% secure. Post completion of the necessary formalities, your gold ornaments are taken to the authorised bank branch in a sealed bag equipped with a GPS-tracker. Once it arrives at the unit, it is stored in a secure locker under strict military-grade surveillance. In addition to this, we also provide 100% door to door insurance cover.

  • Overdraft Against Gold

We provide a unique credit line facility against gold called Rupeek Quick. It enables you to access funds any time you want from the sanctioned line of credit. Moreover, you only have to pay interest on the amount that you utilise. 

  • Fastest Disbursal

Since our application procedure involves minimal documentation, our processing time is much faster than an Aadhaar card loan. Once the formalities are complete, the sanctioned loan amount is instantly transferred to your bank account.

  • Competitive Interest Rates

We offer the most cost-efficient gold loan solutions. Unlike an Aadhaar card loan in Coimbatore, our interest rates start at 0.49% p.m. only. With us, you can opt for any one of the two types of schemes – pay in EMIs or anytime per your convenience. Kindly note that the interest rates may vary based upon your location.

We have become one of the most preferred gold loan providing platforms because of the benefits mentioned above. Our competitive interest rates and doorstep loan service have set us apart from the rest. We’re working diligently to expand our operations across the country. 

Areas Where We Operate In Coimbatore

If you’re residing in any of the following areas, you can avail our services from the comfort of your home:

  • Gopalapuram
  • Saravanampatti
  • Coimbatore Tidel Park
  • Kovaipudur
  • Marudamalai Road
  • Singanallur
  • Periyanaickenpalayam
  • Malumichampatti
  • Peelamedu
  • Vadavalli
  • Thondamuthur

Our gold loan solutions have been designed to cater to all your financial requirements. Be it your child’s education or a medical emergency; financing your expenses is no longer a hassle. Apply for a gold-backed Aadhaar card loan in Coimbatore via our app or web platform and be a beneficiary of the extensive range of features.

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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 maximum limit of an Aadhaar card loan?

Most of the financial institutions, like banks and NBFCs, offer personal loans of up to Rs. 50 lakhs. However, the maximum loan amount that can be sanctioned will depend on specific parameters, such as your income and credit score.

  1. How long does disbursal of an Aadhaar card loan take?

The time taken for disbursal of an Aadhaar card loan differs from one financial institution to another. Hence, it may take a few days or a few weeks. However, on average, it usually takes anywhere between 1-7 days. The loan amount is disbursed once your application is approved.

  1. How can I calculate the EMI for an Aadhaar card loan in Coimbatore?

Many financial institutions provide an aadhaar card loan calculator online, letting you quickly compute the monthly instalments. You need to input three components – loan amount, interest rate, and loan tenure. Monthly EMI will be displayed once you enter these.

  1. What is the maximum and minimum amount of gold loan that I can avail from Rupeek?

The maximum amount of gold loan that you can avail from us is Rs. 1.5 crores; whereas, the minimum amount is Rs. 15,000.

  1. Can I pledge all types of gold items to avail a gold loan?

No, our lending partners only accept gold ornaments with a purity of at least 18 carats. Other gold items, like coins and bars, are not accepted.

  1. Can I do a partial release of my pledged gold ornaments?

Yes, our gold loan repayment process allows you to do a partial release of your pledged gold. However, it’s imperative to keep in mind that the part released gold should weigh at least 10 grams. You can get in touch with us to initiate the process.

  1. How can I calculate the quantity of gold required to avail a loan?

You can compute the quantity of gold required by using our gold loan calculator. Enter the required loan amount and purity of your gold ornaments. Once the details are entered, the required quantity of gold will be displayed.

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