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Indore
Aadhar Card Loan in Indore
aadhar-card-loan-in-Indore

Aadhar Card Loan in Indore

Indore is Madhya Pradesh’s largest city and home to IIM and IIT, making it the state’s education hub. The most populous city in MP is also its most important financial centre. High living standards, green and clean roads, and improved infrastructure are some of the city’s key characteristics.

But, expenses in a metropolitan city like this can disrupt one’s savings on some occasions. To alleviate their financial burden, individuals can consider an Aadhaar card loan in Indore. It’s minimal documentation, and restriction-free usage makes this financing option suitable for various instances.

A Brief On Loans Against Aadhaar Card

These are a type of personal loan that one can avail by providing their Aadhaar card as an e-KYC document. This type of loan is offered by traditional banks, NBFCs, and certain online-only lending institutions.

As it does not have any end-use restriction, an individual can use the money for multiple expenses. Some of the ways one can use a personal loan on Aadhaar card Indore are:

  • To purchase equipment for a business
  • One can finance their travelling expenses
  • Pay for higher education
  • Financing the expenses of marriage
  • Renovation expenses can be paid using this amount

There are numerous other ways of utilising the loan amount besides these. However, these may not be the most accessible financing option available. Though comparatively less, one still needs to provide certain documents like income proof to avail a personal loan on Aadhaar card Indore. Its eligibility criteria can also be hard to fulfil for some individuals.

If you search for an “Aadhaar card loan lender near me”, it would be smarter to opt for a secured variant like a gold loan.

Advantages Of A Gold Loan Over Traditional Aadhaar Card Loan

Due to their secured nature, gold loans are highly beneficial than an Aadhaar card loan in Indore. The following table better explains its significant advantages over the former.

Parameters

Collateral-free Aadhaar Card Loan

Aadhaar Card Loan Against Gold

Documentation

Along with the Aadhaar card, one also needs to provide their income proof, ITR documents, etc.

Only KYC documents are required.

Eligibility

As these are unsecured lenders always keep stringent eligibility criteria like a 750 credit score, a certain level of income, etc.

Any individual who is older than 18 years is eligible for a gold-backed credit facility.

Loan Amount

It is calculated based on the borrower’s monthly income.

It is calculated based on the LTV and the value of provided gold.

Borrowing Cost

Lenders charge high interest rates due to its unsecured nature.

One can get these loans at low costs.

A gold loan can also be called a gold-backed loan on Aadhaar card without salary proof as one can avail these with just that. Moreover, if you avail our gold loan, we provide a vast array of exclusive features and benefits that enhance your borrowing experience even more.

Rupeek’s Gold Loan - Advantages

Our primary purpose is to offer you a credit facility that will relieve your burdens instead of becoming one. To make sure the utmost convenience, we offer:

  1. Broad Range Of Loan Amount

An individual can avail a loan of as less as Rs. 15,000 if that is how much they need. These can be utilised as a mini loan online that you can use for small-scale financial needs. We also offer a loan as high as Rs. 1.5 crores so that individuals with a greater need can also utilise our benefits.

  1. Borrower-Friendly Overdraft Facility

Not everyone requires a considerable amount at once; some can also need the same sum in small parts at different times. With our overdraft facility called Rupeek Quick, get an extended credit and withdraw a small amount from your sanctioned principal as per your convenience. We will only charge interest on the money you have used and not the entire loan amount.

  1. Flexible Repayment Schemes

If you are not comfortable paying monthly EMIs, we also have flexible methods in our repayment schemes. You can choose to pay the interest first and the sum later, pay the entire sum with a single bullet payment, etc.

We also offer doorstep loan service for our gold-backed Aadhaar card loan in Indore, making it more convenient for you further. Our representatives are operational in almost every major part of the city.

Rupeek’s Doorstep Service – Top Localities

You can avail our services in the following areas of Indore.

  • Rajendra Nagar
  • Radio Colony
  • Bijasan Road
  • Vijay Nagar
  • Siyaganj
  • Indore Khajrana
  • Lokmanya Nagar
  • Khatiwala Tank
  • Nanda Nagar
  • Sudama Nagar
  • Moti Tabela
  • Pardesipura
  • Indore Cloth Market

It would be unwise to opt for a collateral-free Aadhaar card loan in Indore, especially if you urgently need money. These take a substantial amount of time to get approved along with its stringent eligibility criteria. Instead, if you need immediate funds, apply for our gold loan and get them approved within 60 minutes.

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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% 0.79%
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. How much loan amount can one get from an instant loan on Aadhaar card?

The loan amount depends on your monthly income, CIBIL score and the respective lender’s discretion. Thus, there is no specific set amount that one can avail from these loans. However, most financiers cap the amount at Rs. 50 lakhs.

  1. Is my gold safe with Rupeek?

After taking the pledged gold from our customers, we keep them in a military-grade vault, ensuring top-notch safety. You can rest assured, as we will return your gold safe and secure once you have repaid the loan. 

  1. Do I need gold insurance cover to take an Aadhaar card loan from Rupeek?

You do not need to buy gold insurance cover to get an Aadhaar card loan against gold from us. We offer complimentary gold insurance policy to all our customers.

  1. What is the shortest Rupeek loan tenure?

The tenure for our gold-back Aadhaar card loan in Indore is at least six months. However, by using our flexible repayment schemes, you can end it even earlier. 

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