Credit Card Loan in Delhi

Credit Card Loan in Delhi

Being the national capital, Delhi is the centre for a wide range of economic activities. The Delhi Economic Survey has presented that Delhi has recorded a 7.4% GDP growth in 2019 - 20.

Besides extensive service and IT sectors, tourism is also a significant contributor to Delhi’s economy. Areas like Lotus Temple, Red Fort, Qutub Minar, and India Gate attract tourists from all over the world. Moreover, Delhi houses several prominent colleges and universities in India.

The cost of living in Delhi has also increased steeply over the years. Thus, one can opt for a credit card loan to finance big-ticket purchases in Delhi instead of liquidating their savings.

Credit Card Loan – A Convenient Option

Loan against credit card in Delhi is a type of personal loan available to existing and new credit cardholders. Every credit card comes with a pre-defined credit limit, and financial institutions offer a loan based on that.

A prevailing confusion here is that individuals think this type of loan will increase the credit limit on their payment card. However, that is not the case. Credit card issuers provide an additional loan against the unutilised limit.

Here are the salient features of credit card refinancing that makes it a convenient option to manage any financial requirement –

  1. Loan on credit cards is instant. Since financial institutions already have the required details of applicants, it eliminates the documentation process.
  2. Lenders offer EMI options that make loan repayment a hassle-free process.
  3. It comes with no end-use restrictions.
  4. Balance transfer facility is available on such financial products.
  5. Lenders may allow borrowers to avail fund over their credit limit as well, but depending on that individual’s repayment history.

Availing a loan on credit card apply online is not a hassle, but one needs to meet the necessary criteria to get the funds. Typically, lenders ask for a credit history devoid of any defaults, and a proper spending habit.

A credit card loan is undoubtedly an excellent financing option if you are facing an emergency. However, this financial product has some limitations. Since it is an unsecured financing option, loan on credit card interest rates Delhi is considerably high. Plus, these are not high-value loans. Thus, if you have a requirement for more funds, you may have to look for alternatives when searching for ‘credit card loan provider near me’.

In this context, a gold loan can be a suitable option for individuals.

Perks of Gold Loan over Credit Card Loan

Gold loans offer a suitable alternative to a credit card loan. Being a secured mode of financing, it comes with a more lenient eligibility requirement and a lower borrowing cost.

Here are some prominent usage of a gold loan –

  1. Since the interest rate on gold loans is comparatively lower, it can help you to save substantially on debt consolidation. You can take this loan to pay credit card outstanding, and other debts that you have.
  2. Medical expenses are unprecedented, and they often require a substantial amount within a short span. In this regard, gold loans are a great option.
  3. You can use gold loans to fund your business expenses as well, and the repayment flexibility it offers helps you to close the loan properly.
  4. Apart from these, you can use a gold loan for a variety of purposes. You can use it to make a big-ticket purchase, fund higher studies, etc.

However, to optimise your borrowing experience, you must choose a reliable lender. You need to select one that can offer you exclusive features besides the ones mentioned above. In this regard, Rupeek can be an ideal partner for you. We offer industry-first features like doorstep services, paired with repayment flexibility, and many more.

Features of Rupeek

Rupeek offers several customer-friendly features to make the borrowing experience pleasant, hassle-free and affordable. Here are some notable ones –

  1. Online Application Process

We feature a straightforward online application process. Initiate a loan request by registering your mobile number, and then our company representative will contact you for further processing.

Following successful initial processing, our loan manager will visit your address to verify the KYC documents and assess the gold jewellery. Once they are content, you will receive the funds. This entire process will take approximately 45-60 minutes.

  1. Robust Security

At Rupeek, we have adopted a robust security measure to ensure the safety of your gold articles in Delhi. GPS-traceable bags are used to carry the ornaments, which are then stored in military-grade bank vaults. Moreover, to make this process comprehensive, we offer complimentary insurance coverage against it.

  1. High Per-Gram Rate

We offer one of the highest per-gram rates in Delhi. Therefore, our customers can avail more funds against their pledged gold ornaments, which can go as high as Rs.1.5 crore. Also, customers can take the assistance of the gold loan calculator to calculate the loan amount they stand eligible for.

  1. Interest Rate @ 0.49%

The interest rate offered by us starts from as low as 0.49%, which makes interest payments more affordable.

  1. Ease in Repayment

The repayment options offered by us make this process more accessible. We offer a host of different schemes like one-time bullet payment, where you can pay the total outstanding in a single payment after the loan tenure.

Along with this one, you can also opt for traditional EMIs, make interest pre-payment or pay instalments according to your convenience.

  1. Loan Balance Transfer

We offer a loan balance transfer facility that aims to offer substantial savings on loan repayments. The process is simple. Loan transfer with Rupeek can help you to save up to Rs.12,377 per lakh.

However, that is not all. For all your instant financing needs in Delhi, you can consider our overdraft facility against gold.

Overdraft Facility by Rupeek

The customer-friendly benefits of Rupeek continue with the overdraft facility that we offer. Popularly known as Rupeek Quick, it helps our existing customers to pledge additional gold articles to gain access to an extended credit line.

With Rupeek Quick, you can avail funds instantly. Plus, you need to pay interest only on the amount you withdraw, not the entire credit line. Hence, you can save substantially while ensuring a ready source of funding.

Our doorstep services further enhance customer-convenience. You can now get instant online gold loan at your doorstep. Following a successful application, our loan manager will reach your doorstep within 30 minutes. It is possible due to our presence in the top localities of Delhi.

Rupeek’s Service Locations in Delhi

  • Justice SB Marg
  • JNU ring road
  • Chandni Chowk
  • Tilak Marg
  • Maidan Garhi
  • Moti Bagh
  • Sansad Marg
  • Anand Vihar
  • Hauz Khas
  • Nehru place
  • Karol Bagh
  • Connaught Place
  • Pragati maidan
  • Pusa
  • Najafgarh

Credit card loan is a useful financial tool to manage any unplanned financial burden. However, its obvious limitations work against it, and often borrowers are left with searching for alternatives. To bypass this hassle, one can opt for a gold loan. Moreover, with Rupeek as the lending partner, one can now have a pleasant and effortless borrowing experience.

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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. How to repay my gold loan with Rupeek?

You can repay a gold loan via our online payment portal. Enter the OTP sent to your registered mobile number to log in and the make payments as per your convenience.

  1. Can I take a loan to pay credit card outstanding?

Yes, you can take a loan to pay outstanding credit card bills. It may be a smart decision to secure a gold loan for that purpose since the end goal is to save on interest.

  1. What is the difference between a credit card loan and cash withdrawal via credit card?

The primary difference between these two options is that ATM withdrawal via credit card has a lower limit than a loan on a credit card. Moreover, the interest rate on ATM withdrawal is also higher.

  1. Can I part prepay my gold loan?

Yes, we offer part-prepayment facility. The sum you part prepay must be more than the monthly interest payment but less than the foreclosure amount.

  1. How to get a referral bonus on Rupeek gold loan?

To avail a referral bonus, you need to share the unique referral code sent to you with prospective borrowers. With this, you can save up to Rs.2000 on the monthly interest repayments. You can visit the ‘Earn and Refer’ page to know more about it.

  1. Is there any processing fee for credit card loan?

Yes, lenders charge a nominal processing fee for credit card loans.

  1. What is part release system with Rupeek gold loans?

The gold ornaments that you part release must not weigh less than 10 grams at once.

  1. How to earn a rebate on gold loan repayments?

To avail rebate on gold loan repayments, you need to make regular payments. Also, you earn a better rebate if you repay more frequently.

  1. Is there any personal loan available on credit cards?

Yes, there are personal loans available on credit cards. However, it depends on the applicant’s credit history and spending pattern.

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