What are online loans?
An online loan is an extremely convenient way of getting a loan. Incredibly easy to get access to, online loans allow you to borrow money from the comfort of your home. The process of applying for an online loan is quite simple, still, the quality and credibility of the loan process differs from lender to lender.
To apply for an online loan, the borrower has to visit the lender’s website or app and fill a loan application form. Subsequently, the lender undertakes a thorough credit check and verification procedure to accurately evaluate the borrower’s credit score. Thereafter, the lender reviews the application to check its compatibility with the RBI guidelines, CIBIL score, and other legal compliances. If the candidate fulfils these requirements, his/her loan gets approved.
Once the candidate’s application form is processed and receives approval, the lender then proceeds to transfer the loan amount into the borrower’s bank account. If a borrower wants to borrow an immediate cash loan then applying for a gold loan online is probably the best option, as gold loans are, by far, the most immediate loans. A good example of an immediate loan provider is Rupeek Fintech, which pioneered the whole loan-at-your-doorstep process, to make an online loan available to you, almost instantly.
How safe are online loans
In the past few years, there has been a surge in online lending platforms that are making urgent cash loans available to borrowers. As a result of this growing trend, the government has begun to strictly regulate this domain. The aim of enforcing more stringent laws is to curb fraudulent online activities and protect the interests of lenders and borrowers against bad-faith actors. Thus, online platforms, such as Rupeek Gold focus diligently on making transactions safe and secure. Serving the need for instant gold loans in India, Rupeek is gaining a lot of traction as a leading finance facilitator. It is also among the very first online gold loan providers, that is offering gold loans to borrowers, at their doorstep.
The interest rates charged in the case of gold loans are by far the lowest, in comparison to any other kind of secured loans. This makes Rupeek stand out as a gold loan provider among the several immediate cash loan apps out there. The safety and security of financial transactions offered by Rupeek is also a huge plus. Rupeek has invested considerable resources to secure the information of its borrowers with the 256-bit data encryption technique. Being one of the most secure encryption methods out there, it is employed alongside the SSL technology to ensure the highest level of security against threats such as theft or leakage.
Benefits of availing online loans
There are numerous benefits of availing an online loan. However, not many urgent cash loan apps render instant loans without documents pertaining to the income of the customers such as salary slips, income tax returns, etc. Rupeek is one of the very few online platforms providing its users with a quick and easy way of borrowing money. A user can apply for a loan 24/7 which means they don’t have to stand in a queue and wait for hours to submit their application. This gives a huge relief to the user. The only documentation that is required is basic KYC paperwork, that includes identity and address proof. Hence, no income proof is required, if you are applying for a gold loan online
Online loans are especially suitable for smaller borrowings because the interest rates are incredibly low. This makes the overall borrowing procedure considerably inexpensive, which is desirable if you are trying to borrow a small amount of money from the market. You do not even have to leave your house to initiate the process, which is a very customer-friendly approach.
Rupeek Fintech 30 Min easy Process to get a loan
Rupeek Fintech is a startup based in Bangalore and was founded by an alumnus of IIT-Bombay. The organization has both a website and mobile application, that facilitates gold loan to its users, within 30 minutes. Within just 4 years of existence, this RBI certified startup has served over 100,000 customers, across 11 cities and continues to grow and expand its outreach. According to the chief executive of Rupeek Fintech, Mr Sumit Maniyar, there has been disbursement of loans worth ₹1,000 crores since the launch of this startup. Banks such as Karur Vysya Bank, ICICI Bank, and Federal Bank Limited are currently partnered with Rupeek.
Rupeek Fintech has worked tremendously in the direction of providing its borrowers’ easy access to gold loans, and a simplified loan application process. These efforts have reaped its rewards, turning Rupeek into one of the eminent services for availing instant cash loans in India.
The online gold loans provided by the Rupeek Fintech have very low distribution costs. This allows Rupeek to provide gold loans at 20% cheaper interest rates as compared to the other gold loan companies. Depending upon the kind of scheme it is, Rupeek’s gold loan scheme usually starts from a monthly interest of 0.49% at an average LTV of 75% for 12 months.
Gold loan at your doorstep
Rupeek offers urgent gold loans at your doorstep in various cities across India, including Delhi, Pune, Mumbai, Bangalore, Kolkata, Jaipur, Ahmedabad, Hyderabad, and Coimbatore. Rupeek is currently working on expanding its business rapidly across the entire country.
Being a premier online platform serving instant cash loans in India, Rupeek has made it possible for its customers to avail gold loans from the confines of their own home. It provides loans at some of the lowest rates of interests in the current market, starting at a surprisingly low-interest rate of 0.49% per month. All you need is your KYC documents such as your Aadhar card, and you are good to go. Rupeek takes only 24 hours to process your application and sanction the loan amount.
Rupeek Fintech has empowered many small business owners and individuals, who struggle to finance their business and personal needs. By solving the complexity of the process, which has historically been the norm for other types of loans, Rupeek has revolutionized Gold loan financing in India.