Vijayawada is a significant hub of education in Andhra Pradesh. The city also hosts an extensive market for agriculture and industrial goods. Vijayawada’s fast-growing economy has earned it the title of “Global city of the future” by McKinsey Quarterly.
Although the city’s living costs are moderate, it may be wise for residents to cover large expenses, like wedding costs, or emergencies using an Aadhaar card loan in Vijayawada. It lets people preserve their savings as a contingent fund and manage finances more efficiently.
It is a conventionally unsecured source of financing, requiring no collateral from the borrower. This loan also comes with no end-use restriction. So, borrowers can use it for meeting various expenses, like –
To apply for a quick personal loan using Aadhaar card, you must be meet a few criteria set by the lending institution. The loan amount and the interest rate is determined based on a person’s eligibility.
Listed below are the yardsticks for a collateral-free instant loan on Aadhaar card:
Fulfilling these criteria makes you eligible for an unsecured Aadhaar card loan in Vijayawada. The rigid eligibility criteria may create issues for newly exposed individuals to credit or do not possess a reliable income source yet. The interest on loan amount may also be high as it is an unsecured mode of finance.
A secured personal loan Vijayawada, like a gold loan, may be more suitable for offsetting these shortcomings. A gold-backed Aadhaar card loan is more easily accessible because of the highly liquid underlying asset and offers more incredible benefits than its unsecured counterpart.
This table illustrates the key differences between these two financial products.
Parameters |
Gold loan |
Aadhaar card loan |
Loan type |
Secured mode of finance |
Unsecured mode of finance |
Rate of interest |
Low rate of interest |
Comparatively higher rate of interest. |
Eligibility criteria |
Lenient |
Rigid |
CIBIL score |
Not necessary |
750 and above |
Loan amount |
Is based on the gold ornaments’ value and the lender. |
Depends on a persons’ eligibility and the lending institution. |
An unsecured Aadhaar card loan falls short in many respects when it comes to conveniently meeting an individual’s monetary requirements. One such aspect not mentioned above is the disbursal period. Because it involves no collateral, lending institutions need to verify an applicant’s credibility extensively.
If an emergency situation is why you were searching for ‘Aadhaar card loan provider near me’, you have landed on the right page. We at Rupeek offer loan in just 30 minutes. Besides that, we provide a range of other benefits with our gold-backed Aadhaar card loan in Vijayawada.
At Rupeek, prospective borrowers are offered with several benefits upon availing our gold loan services.
Listed here are the various spots within Vijayawada, where we offer our doorstep Aadhaar card loan in Vijayawada against gold.
Forget the hassles of a conventional loan on Aadhaar card with our services. Avail loan in just 60 minutes from the comfort of your home with Rupeek and see to your expenses ever so conveniently.
Rupeek offers customers with a gold loan ranging from Rs. 15000 to Rs. 1.5 crores. You can avail a loan of Rs. 1 crore if you pledge gold jewellery of sufficient amount.
Both self-employed and salaried individuals can get an Aadhaar card loan in Vijayawada. But, lending institutions usually prefer salaried individuals for a collateral-free loan as their income source is more stable. Alternatively, you can turn to a gold-backed loan to avoid this inconvenience.
We provide multiple schemes for repayment. You can choose to repay in fixed monthly instalments or settle the loan at your pace during the tenure.
You do not need to furnish any income proof to secure a gold loan from us. All you need are KYC documents, like Aadhaar card and address proof, if necessary.
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