Aadhar Card Loan in Mysore

Also known as the “Cultural Capital of Karnataka”, Mysore or Mysuru is home to a number of historical architectures like the famous Mysore Palace, Chamundeshwari Temple, and St. Philomena’s Cathedral, powering the city’s tourism industry. Besides hosting units of Nestle India Ltd, Asian Paints, and TVS, Mysore also boasts an extensive IT sector, comprising Wipro, LTI, Infosys, and the like.

These, coupled with numerous central government organisations, make for a major employment source for the increasing urban population. These factors contribute significantly towards its developing economy, resulting in rising living costs. Fulfilling all necessities and luxuries amidst such circumstances often prompts residents to avail an Aadhaar card loan in Mysore.

Some prominent features of an Aadhaar card loan in Mysore have been listed below.

Collateral-free: Applicants do not need to pledge any asset to avail such financial products. Instead, any Aadhaar card loan centre focuses on an individual’s creditworthiness before sanctioning funds.
High Interest Rates: The unsecured nature of such credit impels lending institutions to levy high interest rates. Usually, personal loan interest rates can go from 11% up to 23% p.a., depending on the applicant’s eligibility.
Repayment Tenure: The loan tenure for an emergency loan on Aadhaar card Mysore is usually long, and can stretch up to 5 years or 60 months.
Eligibility: In the absence of collateral, banks and NBFCs place extra importance on an applicant’s eligibility for loan approval. To avail loans against Aadhaar card, an applicant:
Should be a resident of India
Must be aged between 21 to 60 years
Has to possess a CIBIL score of 750+
Should be a self-employed or salaried individual
Must have a minimum work experience of 1 year with present employer
Monthly earnings must be according to the lender’s criteria
Documentation: Besides the Aadhaar card, applicants also need to submit the following documents to acquire an immediate loan against it.
Proof of residence
Employment proof (employee ID card or business ownership documents)
Income proof (salary slips for salaried individuals and audited balance sheet for business-owners)
Bank account statements for the past 6 months
Recent passport-sized photographs
Income tax returns filed for the past 1 year

Such stringent eligibility criteria and elaborate verification process places undue stress on loan-seekers and might bar applicants with low CIBIL and other shortcomings from even availing an Aadhaar card loan in Mysuru.

Wondering if you could avail a loan on Aadhaar card without salary?

A loan against gold might be your best borrowing option!

A gold-backed Aadhaar card loan provides additional security for lenders since they are sanctioned against a highly liquid asset. It aids them in providing the following advantages over a personal loan on Aadhaar card Mysore –

The eligibility for loans against gold does not involve credit score or repayment history check.
Applicants do not need to produce a long list of documents to get a gold loan approved.
Gold-backed funds come at a much lower cost compared to Aadhaar card loan interest rate Mysore.
A brief loan tenure helps individuals acquire and close an instant loan on Aadhaar card without bearing interests for years.

In order to avail these benefits besides other lucrative offers, borrowers can choose ‘gold-backed loan on Aadhaar card apply online’ on the Rupeek website. Read on to find more on how you can benefit the most with a gold loan from us.

Following is a list of some of the primary advantages with our gold-backed Aadhaar card pe loan.

Choose from a variety of loan schemes as per your convenience and enjoy repayment flexibility, with the options for regular EMIs or payment as per convenience.
We offer gold-backed PAN card loan at interest rates as low as 0.79% per month. Borrowers can also avail additional rebates on frequent repayments.
Rupeek provides a gold-backed instant loan on Aadhaar card Mysore up to Rs. 1.5 crores. Check loan eligibility against your gold using our online loan calculator.
Borrowers also have the liberty to complete gold loan repayment before the end of its tenure without incurring additional pre-payment charges.
Rupeek extends an exclusive gold overdraft loan, titled Rupeek Quick, to existing customers. It grants access to an instant credit line against additional gold from which a borrower can withdraw funds 24x7. Also, interest accrues only on the amount used.
KYC verification and gold appraisal will be completed from the comfort of your home with Rupeek’s services of an instant online gold loan at your doorstep. Get funds transferred to your account instantly after approval.

Our minimal documentation requirement also aids in a speedy disbursal of Aadhaar card loan against gold, which can be completed with 30 minutes at select areas in Mysore.

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	-