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Previously known as Madras, the capital city of Tamil Nadu is the native land of classical dance form Bharatanatyam. Besides notable areas like Marina Beach, Kapaleeshwarar Temple, and Valluvar Kottam drawing in visitors, a significant contributor to Chennai’s tourism industry is its excellent medical infrastructure. The ‘Detroit of India’ also houses several large-scale automotive companies like BMW, Renault, and Ashok Leyland, which along with its major IT sector make for most of Chennai’s urban employment.
Maintaining living standards in one of India’s major metropolitan cities may often weigh down one’s financial reservoir, leading to the increasing popularity of prompt borrowing options like credit card loan in Chennai to aid in emergencies like medical expenses.
Recent times have seen increased usage of credit cards for frequent expenses, as have several by-products. One such product is an instant loan on credit card, which is a personal loan offered by banks on unutilised credit limits of cardholders. Such loans are seeing rising popularity owing to their following features.
Although such striking benefits can lure any potential borrower into choosing this means of credit, the detailed requirements to achieve one might come as a surprise to many individuals.
Given the unsecured nature of a credit card loan, banks make sure applicants qualifying for one meet the following eligibility criteria.
Plus, with rising delinquency rates, lenders charge strikingly high interest rates on such financial products, soaring up to as high as 21% p.a. Such hefty repayment charges might pose a hindrance to many loan-seekers. Also, applicants unable to meet the CIBIL score eligibility for a credit card might not make it to the benefits of such borrowing options at all.
Why let such inconveniences affect the urgent need for funds?
If you are one of the individuals looking for credit card loan bad credit, it is high time you opt for a gold loan instead.
Refer to the given table to understand how a gold loan can benefit you better than a loan on credit card Chennai.
Points of Difference |
Credit Card Loan |
Gold Loan |
Eligibility |
- Must own a credit card. - Credit score must be above 750. - Must not have any defaulter record. |
- Must be above 18 years of age and possess sufficient gold. |
Interest Rates |
Strikingly high. |
Much lower. |
Loan Value |
Depends on cardholder’s unused credit limit, and is much lower. |
Comparatively higher, according to the quantity of gold pledged. |
Repayment tenure |
Can be stretched till 5 years, or 60 months. |
Does not exceed 12 months. |
If the above points of differences have convinced you to give up your “credit loan provider near me” searches, it is time you select a gold loan provider with the best deals.
You can consider Rupeek to that end. With an array of multiple loan schemes to suit every requirement and budget, we offer a more viable alternative to personal loan against credit card as an instant financial aid.
Besides an easy online application process and lenient eligibility parameters, Rupeek offers the following promising benefits on availing its loan against gold.
In addition to the above benefits, existing Rupeek customers also get to enjoy an exclusive gold overdraft facility post availing their first gold loan.
Rupeek offers an extended credit line against gold, Rupeek Quick, to its existing borrowers to facilitate prompt funding. Using this gold overdraft facility, customers can pledge additional gold jewellery to avail a credit limit, from which they can withdraw instant funds at their convenience. Additionally, borrowers can also save on repayment by paying interest only on the borrowed amount and not the entire sum.
Upon successful application, you can enjoy instant online gold loan at your doorstep with a 30-minute loan disbursal at Rupeek’s select operational locations in Chennai.
Following is a list of some of the prominent areas of Rupeek gold loan services in Chennai.
Keeping up with living costs in an extensive economy, like Madras, can be taxing on one’s disposable income. Don’t let such circumstances exhaust your savings in the absence of a credit card loan in Chennai. Visit the Rupeek website to apply for a gold loan instead and avail the best deals on online funds.
No, lending institutions do not allow individuals with a default record to avail a loan against credit card.
Generally, availing a credit card loan in Chennai does not involve any paperwork. All information of an applicant is updated in the bank’s database when applying for a credit card itself. In case you do not own a card already, apply for one by submitting KYC documents, employment and income proof, and recent passport-sized photographs.
Yes, a personal loan against a credit card can affect your CIBIL score in both positive and negative ways, depending upon your repayment patterns. While timely repayments can help you boost your creditworthiness, late or missing payments will bring down your credit score.
Yes, you can utilise Rupeek’s loan transfer facility to shift an existing gold loan. Submit your loan pledge card after clearing on outstanding payments with the current lender, and save up to Rs. 12,377 per lakh on interest payment.
In case you feel there is a discrepancy with your returned gold, kindly contact our customer helpdesk. We shall be glad to provide you with prompt assistance.
If you have your registered mobile number altered during an ongoing loan under any circumstances, kindly contact our customer support team to help us update the modified information into our database.
Your request has been received, our customer relationship manager has been notified and will call you shortly