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

Aadhar Card Loan in Tirunelveli

Tirunelveli, one of the largest cities of Tamil Nadu, supports several economic sectors like service-administration, agriculture, trading, banking, agro-machinery, educational services, tourism, cement manufacturing and information technology. This ancient city is also home to several historical temples, and scenic locations attracting devotees worldwide. 

Over the years, employment opportunities in the city have improved drastically. In 2014 alone, the total number of registered youth in the employment exchange reached 63,222, among who 317 obtained jobs through exchanges in Tirunelveli.

This prosperity indicates a sustainable income generation and relatively higher living costs. Moreover, the trend among millennials suggests a likeness towards one document loan like Aadhaar card loan in Tirunelveli.

Aadhaar Card Loan In Tirunelveli- A Liquidity Source?

The Indian government, in 2009, launched the Aadhaar Program that situates a universal 12-digit identification number for Indian Citizens. This smart card validates information pertaining to an individual’s biometric and demographic data, which in turn facilitates availing a loan against it.

A personal Loan on Aadhaar card Tirunelveli is an unsecured borrowing option that offers individuals substantial funds against a single document.

Business owners can use the instant funds availed to pay off medical bills, renovate a house, invest in a child’s education, meet wedding expenses, etc. The loan on Aadhaar card apply online option boosts its accessibility and facilitates ease of borrowing.

While this loan variant seems convenient, certain conditions make it unsuitable to meet emergency financial requirements.

In this situation, opting for a secured borrowing option like a gold loan may be more viable. Following is a look at why.

What Makes Gold Loan A Better Borrowing Option?

Particulars

Gold Loan

Aadhar Card Loan

Eligibility

The potential borrower has to fulfil parameters like -

· Must be at least 18 years old and above.

· He/she must possess gold assets with 18-carat purity.

For easy loan disbursal, potential borrowers have to fulfil the particular eligibility parameters -

· Applicants must be aged between 24 and 60 years.

· They must be employed with the public or private sector or an MNC.

· They must maintain a CIBIL score of 750+.

· Must be an Indian citizen.

Documentation

A gold loan borrower needs to submit only KYC documents.

An interested loan applicant may be required to submit additional documents like-

· Income tax details

· Other KYC documents

· Balance sheet (for self-employed individuals)

· Bank statements

Repayment Flexibility

This loan variant offers a borrower the flexibility of loan repayment through EMIs or bullet payment.

The repayment flexibility is constrained.

Interest Rate

The secured nature of gold loan organically reduces the interest rate.

As the risk factor remains high from the lender’s side, the unsecured nature makes the interest rate higher.

Tenure

Here the tenure can extend up to 24 months which makes way for smart planning and saving.

Here the tenure can extend up to 3 years which increases the risk of debt.

This table indicates that availing a gold loan is a much more lucrative financing option for borrowers. If you find the results against ‘Aadhaar card loan in Tirunelvelli lenders near me’ uncompelling, shift your attention towards a reliable lender like Rupeek.

Benefits Offered By Rupeek

Rupeek offers doorstep services to borrowers to ease out the loan disbursal process. Following the loan initiation, our loan managers contact the applicant and set a date for verification.

On approval, the sanctioned gold-backed Aadhaar card loan in Tirunelveli is directly transferred to a borrower’s account after the document and gold purity authentication.

Apart from this exclusive feature, borrowers also enjoy lucrative benefits like-

  1. High Loan Amount

Unlike the limited quantum under personal loan Tirunelveli, a gold loan from Rupeek offers a borrower substantial loan amount. Potential borrowers can avail up to Rs. 1.5 crores against their pledged gold.

  1. The True Value Of Gold

We evaluate the exact equity of your gold assets and disburse the amount accordingly.

Individuals can also use our online gold loan calculator to estimate the amount available against their gold assets for verification. 

  1. Reliable Interest Rate

Our interest rate starts from 0.79% per month. This eases out the interest repayment structure for borrowers who can save substantially.

  1. Repayment Alternatives 

From Rupeek, you can receive the flexibility of repayment. For this, we offer the following payment schemes -

  • You can opt for traditional EMI option as per your financial capability. 
  • We also give you the flexibility to repay the preferred amount anytime before the tenure ends.
  • Bullet payment.
  1. Preeminent Gold Security 

You can rest assured regarding the safety of your gold assets with Rupeek. We transfer your pledged gold in a GPS-enabled bag to and from the nearest bank vault. We also offer insurance on the same, during the loan tenure, to secure the gold against theft and accident.

Apart from these features, we also offer a credit line on the gold pledged under our overdraft facility.

What is Rupeek’s Credit Line?

Our overdraft facility, also known as Rupeek Quick, is tailored to extend a credit line to existing gold loan borrowers. With this facility, individuals can withdraw funds, as and when required, from a pre-sanctioned amount disbursed against the value of their gold.

Some of the benefits of this facility are-

  • One can avail additional funds from their primary loan by pledging more gold, with one click via our official app.
  • The interest is levied on the withdrawn amount, not on the total credit amount, thus reducing repayment liability.

Localities To Check For Rupeek’s Service

If you are searching for localities where Rupeek extends its gold-backed Aadhaar card loan in Tirunelveli benefits, here’s a list to check -

  • Cheranmahadevi
  • Palayankottai
  • Kokkirakulam
  • Ambasamudram
  • Nanguneri
  • Kudankulam
  • Kallidaikurichi
  • Manjolai
  • Vallioor
  • Kalakad
  • Alwarkurichi
  • Kavalkinaru

Individuals residing in these locations can easily opt for Rupeek’s gold-backed loan in lieu of an Aadhaar card loan in Tirunelveli and maximise their benefits. With multiple advantages and doorstep service, Rupeek stands tall as a reliable lender of emergency funds.

To avail these benefits, download the app today!

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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. Does Rupeek accept nose pin as collateral against the gold loan?

We accept all gold jewellery ornaments of at least 18 carats. We do not allow gold coins and bars as collateral.

  1. Is GST applicable on Aadhaar card loan?

Ideally, a personal loan on Aadhaar card comes with GST of 18% included in the loan amount or interest. 

  1. Does Rupeek require a borrower to submit salary slips to avail gold loan?

No, you will only need to submit KYC documents to avail a gold loan from Rupeek.

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