Credit Card Loan in Bhopal

Credit Card Loan in Bhopal

Situated in India's heart, Bhopal is known for its bright culture and warm-hearted residents. It is the capital of Madhya Pradesh and houses numerous research and educational institutions. Bhopal is one of the first cities selected under the Prime Minister's flagship Smart Cities Mission to develop it as a smart city.

Resultantly, residents need to scale their expenses continually and more often than not unforeseen and large-scale costs become challenging to cope with. Under such circumstances, where there is an instant need of funds, a credit card loan in Bhopal can come extremely handy.

Advantages of A Loan Against Credit Card

A loan taken against one's credit card's unused balance can prove to be highly beneficial because of the following reasons –

  • No End-use Restriction

The borrower has full liberty to use their approved amount whichever way they want. This way, one can use their amount for multiple expenses at the same time.

  • Instant Approval

These loans are pre-approved and require nominal documentation. Due to this, a credit card loan in Bhopal is approved within a few hours.

  • Collateral Free

As these are a type of unsecured loan, lenders do not ask for collateral. Moreover, the hassle related to the documentation of collateral can also be avoided with these credit products.

  • Straightforward Repayment

Borrowers need to repay their loan amount through monthly EMIs. The high interest rates, however, might make it seem like a burden on certain individuals.

Due to these advantageous features, it is becoming common for people to take a credit card loan for car, education, etc. These are also extremely popular due to their simple eligibility criteria as well.

Eligibility Requirement for A Credit Card Loan

A credit card owner only needs to fulfil the following requirements to be deemed eligible for a credit card loan.

  1. A brilliant credit history.
  2. Steady purchase and repayment practice.

Though these two requirements are seemingly straightforward, it is more than often seen that one cannot fulfil one and sometimes both of them. Moreover, this isn't the only factor that can make an otherwise perfect credit facility seem disadvantageous.

The loan amount is calculated through a credit card loan calculator, and it is hardly ever the full unused amount left in your credit card. Furthermore, most individuals do not have a high card limit, to begin with, making it of little to no use when one needs a substantial amount.

One in urgent need of money can alter their search from 'credit card loan provider near me' to 'gold loan providers'. Although gold loans require collateral, these do not come with hard-to-fulfil eligibility criteria, and even individuals without a credit history can get them. Besides, if you avail our gold-backed loan, the number of advantages increases tenfold, offering a lot more than just financial aid.

Rupeek's Gold Loan Benefits

When you avail a gold loan from Rupeek, you get:

  • Impressive Overdraft Facility

Borrowers can get an extended credit line by availing our overdraft facility called Rupeek Quick. They can withdraw any amount from their sanctioned principal and pay interest only on that.

  • Vast Range Of Loan Amount

We offer a wide range of loan starting from Rs. 15,000 to Rs. 1.5 crores, so that our customers can borrow as much as they need. While a credit card loan limit Bhopal depends on how much amount is left unused in your card, our gold loan's principal depends on the amount of gold you can provide.

  • Superlative Safety

After you pledge your gold to us, it becomes our responsibility to keep it safe and secure. Thus, every gold article that is pledged to us is kept inside a military-grade vault, ensuring optimal safety.

  • Multiple Repayment Schemes

Unlike a credit card loan in Bhopal, we do not just have a fixed system of repayment. Instead, we offer two separate repayment schemes, that are monthly EMIs or payment systems like single bullet payment, interest pre-payment, etc.

Along with these, we also offer doorstep loan service, so that you can avail a loan at the comfort of your home. This eliminates the hassle of visiting a lending institution. We have our operations spread across Bhopal, providing financial aid to people in need.

Our Operations In Bhopal

At present we are providing our gold-backed loans to the following localities in Bhopal.

  • Gandhi Nagar
  • Govindpura
  • Anand Nagar
  • Arera Hills
  • Bairagarh
  • Bagh Swaniya
  • Bhel Town
  • Kolar Road
  • Jahangirabad
  • Vallabh Bhawan
  • Chuna Bhatti
  • Kohefiza

If you are a resident of any of these localities your gold loan in just a few clicks away. Their secured nature makes them a lot more reliable than a credit card loan in Bhopal, and low-interest rates make them easier to repay. Do not wait on your financial needs and apply for your Rupeek gold loan today!

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Benefits of Gold Loan over Credit Card Loan.
  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
  • 20 lakh
Comparision Parameters Credit Card Loan Gold Loan
Interest Rate 2.39% 0.49%
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 documents are required for a Rupeek gold loan?

One only requires to provide their KYC documents to apply for our gold loan.

  1. What is the lowest repayment interest rate charged on a Rupeek gold loan?

Our interest rate starts from as low as 0.49% per month, which is significantly less than a credit card loan lowest interest rate Bhopal. The interest rate of such loans starts from 1.17% per month.

  1. Can I pledge anything other than gold jewellery?

No, we only accept gold jewellery, and any other type of gold item cannot be pledged to us.

  1. Can every credit card holder avail a credit card loan?

No, every individual who owns a credit card cannot get a loan their credit card. They have to fulfil a set of fix criteria to be deemed eligible, and only a selected cardholder can opt for this facility.

  1. What is the most significant disadvantage of a loan on a credit card?

Its greatest disadvantage is that one might have to incur severe penalties if they fail to pay the debt on time.

  1. Do I have to pay a processing fee for my loan against credit card?

Yes, credit card loan providers do charge a processing fee for it. However, the charged amount is substantially nominal for a processing fee.

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