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Aadhar Card Loan in Rajkot
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Aadhar Card Loan in Rajkot

Rajkot is the fourth largest city in Gujarat. It is renowned for being the childhood home of the Father of India’s, Mahatma Gandhi. It has several tourist attractions like Jubilee Garden, Lang Library, Watson Museum, and Rotary Dolls Museum, which attract many visitors throughout the year.

As a result of the booming tourism industry, there is a consistent rise in the number of SMEs and MSMEs in the region. This has prompted a gradual rise in the lifestyle of residents as well. The need for a cash injection in the businesses for bringing versatility can be met with an Aadhaar Card Loan Rajkot. Individuals can also utilise this financing option for fulfilling one’s personal expenses.

Aadhaar Card Loan - A Brief

Traditionally, the Aadhaar card loan is an unsecured credit you can avail from financial institutions by producing your Aadhaar card for KYC verification. Its restriction-free usage feature lets individuals use this financing option to address a range of obligations. Lending institutions offer up to Rs. 50 lakhs as an Aadhaar loan.

Documents Required For An Aadhaar Card Loan In Rajkot

Individuals need to provide the following documents to get an instant loan on Aadhaar card.

Self-Employed

Salaried

Self-employed applicants must submit Aadhaar Card alongside proof of income such as P&L statement, balance sheet.

Salaried individuals need to furnish their salary slips and proof of employment and work experience.

Besides submitting necessary documents, individuals need to meet specific parameters to be considered eligible for a conventional Aadhaar card loan.

Key Requisites For Smooth Aadhaar Loan Disbursal

Primary requirements for availing a personal loan on Aadhaar card are:

  1. High Credit Score: A high CIBIL score of at least 750 out of 900 is essential to increase your loan approval chances.
  2. Reliable Income Statement: A regular paycheck or source of income always helps the lender measure your capacity to repay the loan amount.

Requirements for an instant cash loan on Aadhaar card can differ, depending on the financial institution you are availing the loan from. Make sure to be thorough with this aspect.

Note that, specific financial institutions may extend an unsecured loan on Aadhaar card even if you have a credit score below 750. The loan amount may not be sizeable in that regard, or the interest rate may be higher.

Besides, the lengthy eligibility check can make this option unsuitable for those looking for an immediate loan in Rajkot. One can consider taking a gold loan to this end.

To have a comprehensive knowledge-based opinion, here are some pointers that distinguish a gold-backed Aadhaar card loan from its conventional counterpart.

Gold Loans Vs Aadhaar Card Loan

Gold Loans:

  1. Lower interest rates help you economise borrowing, especially for purposes like debt consolidation.
  2. Fast disbursal makes gold loans an ideal choice for those looking for financial aid urgently.
  3. Only KYC documents required.

Aadhaar Loans

  1. Unsecured financing option brings in the hassle of documentation.
  2. Longer processing time.
  3. Higher interest rate is not always a feasible option for many customers.

Hence, it may be more suitable for individuals who are new to credit or does not sport a high credit score to opt for a secured variant when looking up ‘Aadhaar card loan providers near me’. What’s more, individuals can enjoy a range of other benefits by choosing Rupeek.

Salient Rupeek Gold Loan Features

If you are unsure of which lender to choose, here are a few reasons why you should select Rupeek’s gold loan in Rajkot:

  1. Online Processing: You can easily apply for a gold-backed Aadhaar card pe loan by registering with your phone number on Rupeek’s website. Our loan manager will visit you shortly at a place of your convenience to complete the formalities after setting an appointment with you.
  2. Security: Our loan managers carry pledged gold ornaments in a GPS-enabled bag, so it remains traceable till it reaches the agreed bank vault. Rupeek also provides with complimentary insurance coverage to ensure complete safety of the valuables.
  3. High Value For Gold: Rupeek offers a considerably high rate for your gold accessories, making it a go-to option if you are looking for a more considerable sum at your disposal quickly. You can also check the estimate of your pledged gold ornaments using Rupeek’s gold loan calculator.
  4. Repayment Flexibility: Rupeek offers multiple repayment schemes from which you can choose. You can pay with easy instalments monthly or disburse instalments as per your preference and convenience during the repayment term.
  5. Rupeek Overdraft Facility: Rupeek’s gold overdraft facility, or simply Rupeek Quick, is an ideal solution to meet any unavoidable expenses you need to incur. It’s an extended line of credit, providing you with access to funds any time. The key benefit of this feature is you need to pay interest only on the amount you withdraw from the entire approved amount.

For example: If you have pledged gold to extend your credit limit by Rs. 80,000, and you use only Rs. 30,000 of it, you need to pay interest only for Rs. 30,000 as per the number of days you took to repay the same.

Rupeek Service Locations Rajkot

We are always working to serve you better and faster. Individuals can avail our gold-backed quick personal loan using Aadhaar at their doorstep with us in and around the following locations:

  • Dhebarbhai Road
  • Gondal
  • Rajkot Marketing Yard
  • Paddhari
  • Wankaner
  • Rajkot Metoda Gidc
  • Sapar Veraval
  • Sardhar
  • Rajkot Raiya Road
  • Mota Mava
  • Virnagar

With our strong presence in the city, get an Aadhaar card loan in Rajkot against gold in just 60 minutes. Forget the inconvenience of high interest rate and lengthy documentation and meet all financial obligations affordably.

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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. What are the payment options for an Aadhaar card against gold?

Customers can either use Rupeek website or mobile app to pay through internet banking, debit cards, UPI, or any other convenient mode.

  1. Is it possible to get a gold-backed Aadhaar card loan of Rs. 1 crore?

Yes, it is. Rupeek provides a minimum loan amount of Rs. 15000, and it goes up to Rs. 1.5 crores.

  1. How to select the best provider for Aadhaar card loan against gold?

While applying for a personal loan on Aadhaar card in Rajkot, one must consider the interest rates, LTV, the security of pledged gold ornaments. Checking the repayment schemes available, and additional charges, if any, should be primary filters in your search.

  1. Is it possible to get an Aadhaar card loan without income proof?

Yes, it is possible to get a personal loan on Aadhaar card without income proof if you opt for a secured variant, like credit against gold. Lending institutions emphasise on income proof if it’s an unsecured variant.

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