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

Aadhar Card Loan in Madurai

Madurai is the 3rd largest city of Tamil Nadu, and home to the Minakshi Temple, which attracts several tourists throughout the year.

Along with tourism, Madurai’s economy is based on agriculture, dairy, textile, and jewellery making. The advent of small-scale industries has increased the employment prospects for youths in recent years as well.

These developments have also led to improved standards of living and an increase in consumption. However, maintaining a balance between savings and income is essential, for which several individuals opt for easy financing options like an Aadhaar card loan in Madurai.

Why Choose Aadhaar Card Loan In Madurai?

A personal loan on Aadhaar card Madurai is a convenient way to access funds up to Rs. 50 lakhs. It reduces the hassle of documentation as only Aadhaar card is required for identity and address verification.

Many financial institutions offer one-click application to simplify the disbursal process of a quick personal loan using Aadhaar. Interested borrowers can receive sufficient loan value to cover large-scale expenses like marriage, travel plans, and purchasing equipment easily.

Although this financing option removes the obstacle of waiting, certain variables put forth by financial institutions can make it unlikely during an emergency.

The eligibility criteria for an emergency loan on Aadhaar card Madurai as set by financiers generally include these parameters.

Criteria

Requirements

Age Limit

At least 21 years and not more than 60 years

Credit Score

750 and above

Employment type

Both salaried and self-employed

Nationality

Indian Citizenship

A potential borrower might have to submit certain additional documents if the financial institution mandates it, apart from eligibility.

The documents for a loan on Aadhaar card usually include –

  • PAN card
  • Salary slips (for salaried people)
  • Bank statement
  • ITR
  • Balance sheet and income statement (for self-employed)

Fulfilling these criteria can be troublesome for a potential borrower desiring a loan on Aadhaar card without salary. As the instant cash loan on Aadhaar is issued without collateral, the lenders are strict concerning eligibility checks. Under these circumstances, you can avail a gold loan as an alternative when you search for ‘Aadhaar card loan lenders near me’.

How Gold Loan Fits As A Better Alternative?

The benefits that make a gold loan a better financial option over an instant loan on Aadhaar card are –

  1. Flexibility of usage
  2. Quick disbursal
  3. Nominal documentation
  4. Less stringency concerning CIBIL score checks

These benefits substantiate a gold loan as a reliable liquidity solution during an emergency. Apart from these features, Rupeek’s doorstep service and LTV up to 80% make this financial product even more beneficial for individuals.

What Are The Benefits Of Rupeek’s Gold Loan?

Rupeek offers preeminent gold loan features and repayment schemes. Starting from doorstep loan services to easy balance transfer, we offer the best user experience.

Some of our features to check are –

  • You can receive a gold-backed instant cash loan on Aadhaar up to Rs. 1.5 crores against your gold assets from Rupeek.
  • Enjoy disbursal of the loan amount within 30 minutes, within which we will complete KYC verification, gold evaluation, and signing of the loan agreement.
  • Individuals can also use our online gold loan calculator to estimate the loan amount against their gold assets.
  • The interest rate levied on gold loan from Rupeek starts at 0.79% per month. This makes way for minimal interest charges.
  • We provide flexible repayment schemes to our customers. Repay any way you want as per your financial standing.
  • Rupeek offers hassle-free balance transfer facility. You need to share your pledge card with our loan manager and settle the outstanding interest to your current lender, and we will deal with the rest.

We also provide certain customised features to simplify getting an Aadhaar card loan in Madurai against gold.

  • Doorstep Loan

Rupeek’s doorstep loan disbursal process takes around 30 minutes. Our loan managers will contact you to set a date for KYC verification instantly after you apply. After document verification and gold purity authentication, the amount is sanctioned to your registered account.

  • Unsurpassed Gold Security 

We ensure best-in-class security of the pledged gold items. The collected gold is carried in a GPS-enabled bag to and from the nearest bank’s vault. Moreover, Rupeek offers complimentary insurance on your gold assets against theft and accidents.

  • Rupeek’s Gold Credit Line Facility

Our existing borrowers can access additional funds by pledging supplementary gold assets. The Rupeek Quick facility lets access to an instant credit line via one click any time. Moreover, the interest is levied on the withdrawn amount only, thus ensuring more savings compared to if you’d have taken a loan.

If you are interested in availing a gold loan from Rupeek in Madurai, check out the locations mentioned below.

Service Localities of Rupeek In Madurai

  • Vadipatti
  • Thiruparankundram
  • Tirunagar
  • Palanganatham
  • Kamarajar Salai
  • Tirumangalam
  • Vilakkuthoon
  • Anna Nagar
  • Alanganallur
  • Othakadai
  • Sholavandan
  • Madurai Main

When planning to avail an Aadhaar card loan in Madurai, weigh the pros and cons of both unsecured and secured variants to determine which option suits you well. Assess it against your income stability and financial capacity to that end.

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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. Can I apply for an Aadhaar card loan online?

Yes, many financial institutions offer an Aadhaar card loan application option on their official website.

  1. Do banks give Aadhaar card loan to only salaried customers?

Banks and NBFCs offer an Aadhaar card loan to both salaried and self-employed customers.

  1. What is the maximum loan amount offered by Rupeek?

You can get any loan amount ranging within Rs. 15000, and Rs. 1.5 crores from Rupeek. It depends on the pledged gold items and the effective loan-to-value ratio.

  1. Can I apply for a gold loan from Rupeek without balance sheet?

Yes, availing a gold loan from Rupeek doesn’t require submission of additional documents. Potential borrowers just need to submit KYC documents.

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