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Credit Card Loan in Gurgaon
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Credit Card Loan in Gurgaon

Located in Haryana, Gurgaon or officially known as Gurugram is renowned as a significant technological and financial hub. Places like Damdama Lake, Manesar, Sohna, and Sultanpur Bird Sanctuary attracts tourists throughout the year.

While technological advancement has witnessed sky-scraping development in recent years, the financial and banking sectors have joined to make the economy stronger and life in Gurgaon easier. Availability of options like a credit card loan in Gurgaon has simplified managing personal finance by leaps and bounds.

Advantages Of Credit Card Loans

Banks and NBFCs provide credit card loans based on the unused credit limit of an individual. Individuals can opt for a credit card loan to pay credit card outstanding and meet various personal financial obligations.

However, before availing a credit card loan in Gurgaon, individuals must possess a clear understanding of the feature and advantages of this financing option.

  • As credit card loans are unsecured, individuals need not pledge any asset while applying for it.
  • Credit card refinancing offers instant funding because it does not involve submitting any credit card loan documents.
  • Individuals can pay off their debt in monthly instalments or EMIs. A credit card consolidation loan enables borrowers to transfer other cards’ remaining loan balance into one card and repay in EMIs.
  • Credit card loan does not demand any guarantor or post-dated cheques while applying for the same.

Credit Card Eligibility

To apply for an instant loan on credit card, individuals must fulfil the eligibility standards set by the financial institution. Though the eligibility factors vary across lending institutions, the primary and crucial pointers include:

  • Individuals must have a credit score of 750 or above.
  • Individuals must possess an excellent repayment history and spending pattern.

Disadvantages Of Credit Card Loans

A loan against credit card comes handy during an urgent cash requirement. But this type of financing facility comes with various shortcomings.

The major disadvantage of credit card refinancing in Gurgaon is its higher interest rate. As these loans are unsecured, financial institutions run a substantial risk of future default. One can look up the lowest and highest interest rates levied by different financial institutions when searching for ‘credit card loan lenders near me’.

To avoid excessive interest rates and avail a sizeable loan amount, individuals can consider gold loan as an alternative. But that’s not the only benefit of a gold loan over a credit card loan in Gurgaon.

Gold Loan Vs Credit Card Loans

During an urgent cash requirement, individuals can get access to quick funding by pledging their gold articles as well.

To get a clear concept of the availing the benefits of gold loans, read the pointers mentioned below.

Parameters

Credit card loan

Gold loan

Loan type

Unsecured

Secured

Interest Rate

Higher

Lower

Eligibility criteria

Strict

Relaxed

Credit card

Required

Not required

CIBIL Score

750 or above

Not required

Loan amount

Relatively lower (loans are offered based on the credit limit of the borrower)

Usually higher (loans are provided based on the weight and purity of gold the borrower pledges)

Besides the aforesaid benefits, individuals can also enjoy an array of other services when availing a gold loan from Rupeek over a credit card loan in Gurgaon

Merits Of Rupeek

The features and facilities of Rupeek are mainly designed to help individuals with optimal financial assistance at times of need. 

Below mentioned are a few advantages of availing a gold loan with Rupeek.

  • Quick Disbursal

Whereas the credit card loans take 24 hours to get disbursed, Rupeek offers a gold loan within 45 – 60 minutes. With such faster processing time and quick disbursal, Gurgaon individuals can easily meet any urgent or planned expenses.

  • Doorstep Services

Get a loan up to Rs. 1.5 crores without leaving the comfort of your home with our instant online gold loan service. After applying for a gold loan with Rupeek, the gold loan executive reaches the applicant-specific location within 30 minutes. Next, the executive conducts the necessary formalities, including KYC documents verification and gold valuation and leaves the location only after the loan amount gets transferred to the borrower’s account. 

  • Minimised Interest Rate

With Rupeek, individuals are assured to enjoy a lower borrowing cost as our gold loan interest rate starts at 0.79% per month. The minimalised interest rates help individuals reduce the borrowing cost and enable them to handle repayment efficiently.

  • Highest Per Gram Rate

We offer the highest per gram rate in Gurgaon. Also, individuals can assess the loan amount beforehand by using our online gold loan calculator. Through this calculator, individuals can determine how much loan amount they would get against their pledged gold ornaments. Alternatively, they can use the calculator to know how much gold they need to get a required loan amount.

  • Flexible Repayment

Unlike a credit card loan in Gurugram, which is to be repaid in EMIs, borrowers can enjoy multiple repayment options. Individuals can choose to pay either monthly or select to pay any time as per their convenience within the tenure.

  • Gold Credit Line

With Rupeek, individuals can secure a gold credit line. Also referred to as ‘Rupeek Quick’, this facility enables borrowers to withdraw cash as per their needs. Moreover, individuals can save a substantial amount through this facility. They are required to pay interest only on the utilised amount and not on the entire overdraft limit.

To provide Gurgaon individuals with adequate financial support, we extend our services to all the significant locations in here.

Availability Of Rupeek In Gurgaon

Enjoy our services in and around the following locations in Gurgaon –

  • Badshahpur
  • Manesar
  • Pataudi
  • Gurgaon Sector 56
  • Sohna
  • Palam vihar
  • Gurgaon Sector 33
  • Garhi Harsaru
  • Gurgaon Sector 17
  • Gurgaon Sector 45
  • Sultanpur
  • Wazirabad

A credit card loan in Noida can be useful if a person has a default-free repayment history and a healthy credit score. But, new cardholders may have to avail a loan at a relatively high interest rate. These individuals can take a gold loan from us to improve their credit score to stand a better chance of availing such loans.

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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% 0.79%
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 KYC documents do I need to submit while applying for a gold loan from Rupeek?

While applying for a gold loan with Rupeek, you need to provide Aadhaar card, Voter ID card, PAN card, Passport, or driving license

  1. Does applying for a loan on credit card affect the credit score?

While applying for a credit card loan, lenders check the borrowers’ creditworthiness by pulling their credit report. Known as hard enquires, these reported enquires affect credit score marginally. Non-repayment of loan or late repayments has a significant effect on a person’s CIBIL score.

  1. How much loan can an individual get on a loan against credit card?

Financial institutions decide the loan amount based on a person’s credit profile and unused balance in a credit card. Lenders also check the repayment pattern and credit score of an individual before finalising the loan amount.

  1. Can I apply for a credit card loan to consolidate my debts?

Yes, you can apply for a credit card loan to consolidate your debts, including credit card bills.

  1. Do lending institutions provide credit card loans to only existing customers?

No, lending institutions provide credit card loans to both existing and new customers. However, prospective borrowers must have an excellent credit score and decent repayment pattern to avail a loan on a credit card.

  1. What is the minimum loan amount I can get from Rupeek?

Individuals can get a minimum gold loan of Rs. 15000 from us.

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