Aadhar Card Loan in Patiala

Aadhar Card Loan in Patiala

Patiala is a culturally rich city in south-western Punjab and is the fourth largest city in the state. Prominent historical monuments like Sheesh Mahal and Qila Mubarak are some of the state's major tourist spots. It is also home to several renowned educational institutions, besides being a major trade hub for the textile and cotton industry.

The city is also growing rapidly, which is resulting in a surge of survival costs. Resultantly, more residents are seeking financing in the form of personal loans to meet their variegated requirements.

Those seeking such forms of financing often turn to Aadhaar card Loan in Patiala as a potential funding choice. The widespread availability of this personal loan option certainly favours its popularity as a viable source for instant funds.

Why Opt For Aadhaar Card Loan In Patiala?

Like personal loans, Aadhaar loan is an unsecured financing option to meet various big and small-ticket expenses. With no end-usage restrictions, borrowers can channel the funds availed via this loan towards any purpose.

Following are some of the reasons for which you may apply for a loan against Aadhaar card:

  1. Instant cash loan on Aadhaar card can be used to meet emergency medical expenses.
  2. It can also serve as an alternative financial aid if you are looking to invest in a property using personal loan Patiala.
  3. Emergency loan on Aadhaar card is also a beneficial solution to meet the expenses for studying abroad.
  4. One can also apply for this loan to cover the expenses of a foreign trip.
  5. Customers also apply for Aadhaar card loan to help expand their business and maximise their profits.

Being an unsecured loan option, borrowers are not required to pledge any collateral to avail the funds. They will, however, need to have a clear credit record to become eligible for the loan.

Individuals may need to fulfil additional eligibility requirements, as mandated by the respective financial institution before they initiate the Aadhaar loan apply online process.

Eligibility Criteria To Apply For An Aadhaar Card Loan In Patiala

Some of the criteria applicants need to fulfil to successfully avail an Aadhaar loan in Patiala are:

  1. The applicant has to be salaried or self-employed.
  2. Salaried applicants must have a minimum of 1-year work experience.
  3. One must be at least 21 years of age to qualify for an Aadhaar card loan.
  4. Maintaining a CIBIL score of at least 750 is mandatory to avail benefits of Aadhaar card loan in Patiala.

Besides the aforementioned requisites, a financial institution may ask for documents like your employment details, bank statements, ITR copy, etc. before approving the loan amount to salaried individuals. For self-employed individuals, lenders can ask for profit and loss statement and balance sheet of the company before ascertaining the Aadhaar loan disbursal amount.

However, meeting such stringent requirements can often pose to be a challenge for potential applicants. Further, being an unsecured loan, Aadhaar loan comes with hefty interest charges that can pose as financial constraints.

If you are already searching for Aadhaar loan near me in Patiala, a gold loan can serve as a convenient alternative. Further, with Rupeek's gold loan, borrowers can optimise their benefits with minimal liabilities.

What Makes Gold Loan From Rupeek A Reliable Financing Option?

Some key reasons why Rupeek's gold loan is a convenient option to meet your financing needs include -

  1. Rupeek offers gold loans at rates as low as 0.49% to drastically reduce interest payments. You can avail up to a maximum of Rs. 1.5 crores loan from this facility.
  2. Gold loans from Rupeek do not require borrowers to satisfy a long list of eligibility criteria for approval. The funds are offered instantaneously depending on the valuation of the gold you pledge.
  3. Flexible repayment options allow the freedom to choose between different options. Borrowers can repay the amount availed through regular EMIs, prepay the outstanding amount at a go, or even opt for bullet payment.
  4. We have robust security protocols in place to ensure maximum safety of your gold valuables. Rupeek also offers complimentary insurance coverage for the assets pledged, to solidify the contingency safeguard.
  5. Rupeek offers doorstep services to collect your pledged gold ornaments and facilitate instant credit disbursal. The entire process takes around 45-60 minutes.

We also offer a gold overdraft facility – Rupeek Quick, in case you are looking to extend your credit limit and meet any sudden high-value expenses.

What Is Rupeek's Gold Overdraft Facility?

Rupeek Quick is a viable solution for interested applicants looking to avail an extended credit line, without the inconvenience of paying hefty interests. With this overdraft facility, borrowers can withdraw the amount they require from a pre-sanctioned limit and pay interest only on the amount utilised.

To opt for this facility, borrowers will not need to produce any additional identification documents. Thus, with convenient financing and easy accessibility, residents of Patiala can avail our gold loan to maximise their benefits.

Our Service Locations In Patiala

Rupeek's widespread network of service locations enables us to be at your disposal at short notice. Here's where we are operating in Patiala -

  • Rajpura
  • Banur
  • Patran
  • Devigarh
  • Ghanaur
  • Bhadson
  • Ghagga
  • Bhadson Road
  • Samana
  • Amloh
  • Nabha

If you are on the lookout for a gold-backed Aadhaar card loan in Patiala or a gold overdraft facility, reach out to a Rupeek service location or simply register on our website or app with your mobile number. Our loan manager will be in touch to initiate the loan approval and disbursal process.

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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 LTV?

LTV or loan-to-value ratio is the amount of credit you are eligible to avail with the gold you have pledged. Rupeek offers an LTV of 80% against your pledged gold for maximum benefit.

  1. Is Aadhaar card loan helpful to receive instant cash?

No, Aadhaar card loan is similar to a personal loan and takes a considerable time to process the paperwork before loan disbursal.

  1. What happens if I do not have a stable income source and apply for Aadhaar card loan?

It depends on the lender and the protocols they have for Aadhaar card loan applicants. Alternatively, you can opt for gold loans, which do not list one's income as an eligibility criterion.

  1. Does Rupeek accept gold bars for gold loan?

No, Rupeek's banking partners only accept gold ornaments with a purity of more than equal to 18 carats only.

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