Located on the eastern bank of Godavari River in Andhra Pradesh, Rajahmundry is a tourism hub. Touted the birthplace of Telugu language, this city is known for its arts, culture and traditions. It is home to several historical temples and locations and attracts travellers from across the world.
Several platinum, silver and gold shops in the city make it one of the largest bullion markets in the country. The thriving economy of the city has led to the establishment of several industries. This has created ample business opportunities for entrepreneurs and profitability for existing companies.
As business and development opportunities expand, residents in the city require funds to bolster the growth. Consequently, Aadhaar card loan in Rajahmundry has become popular sources of availing immediate funding in the city.
When applying for a loan, many choose to avail one against their Aadhaar card as it facilitates a streamlined documentation process. Listed below are the most notable features of an Aadhaar card loan in Rajahmundry.
These benefits make instant cash loan on Aadhaar card a viable funding option that offers monetary assistance without dipping into one’s savings. However, while it may appear as a convenient funding option, this loan option also comes with its own set of disadvantages.
Opting for a personal loan on Aadhaar card may effectively solve a borrower’s liquidity crisis. However, there is the problem of high interest rate and processing fee that comes with this kind of loan.
Listed here are some of the disadvantages of availing an Aadhaar card loan in Rajahmundry.
These issues may cause the borrower to default or skip certain payment dates. This ultimately affects a person’s CIBIL score.
Thus, a more reliable option would be to switch to a secured loan facility that ensures monetary stability for a borrower.
Gold loans are a secured financing option and allow borrowers to avail a high quantum by hypothecating their gold assets.
Unlike loan on Aadhaar card, gold loans do not impose stringent eligibility requirements on potential borrowers. Consequently, low CIBIL score doesn’t pose an issue for when opting for this secure loan facility. Further, this paperless loan Rajahmundry does not mandate an elaborate documentation process involving one’s salary slip, transaction proof, etc. Submitting simple KYC related documents is sufficient to ensure credibility.
Further, gold loans do not come with a long repayment term like Aadhaar card loans. Its tenure comprises four to six months, allowing individuals to enjoy minimal liability.
Thus, gold loans are a more feasible option, as compared to unsecured loans like one availed against an Aadhaar card. In this regard, borrowers should take a look through the variegated benefits offered by Rupeek’s gold loan to maximise their benefits from the same.
Here are the most pertinent reasons why potential borrowers should choose Rupeek –
With these benefits and more, Rupeek serves as a convenient option when it comes to availing instant funds. Therefore, instead of searching for Aadhaar card loan provider near me, switch to Rupeek gold loan services for ease of access and optimise the loan’s usability.
Individuals residing in the following localities of Rajahmundry can opt for our gold loan services -
Visit our website or app today to apply for hassle-free financing and meet all your small and big-ticket expenses with minimal liabilities!
A CIBIL score of 750 or above is necessary to apply for an Aadhaar card loan. Use the Aadhaar card loan calculator to find the amount you can avail against your gold pledged.
Yes! As gold loan doesn’t come with stringent eligibility criteria and therefore ensures a faster fund sanction process.
Personal loan on Aadhaar card comes with GST of 18%, which is included in either the interest or loan amount repayment.
Your request has been received, our customer relationship manager has been notified and will call you shortly