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Kadapa
Credit Card Loan in Kadapa
credit-card-loan-in-Kadapa

Credit Card Loan in Kadapa

Being the district headquarters of YSR Kadapa district, this city houses the district government offices. Along with the services sector, agriculture is a mainstay of Kadapa’s economy. Surrounded by Nallamala and Palkonda hills, this city is also a weekend gateway for many in Andhra Pradesh.

Covering costs outside of the fixed obligations and small-scale unbudgeted expenses can become a challenge in some months. People can consider a credit card loan in Kadapa to cover these expenses.

Loan Against Credit Card – A Convenient Borrowing Option

A loan against credit card in East Godavari offers an easy financing option to meet an array of expenses. The following features of this financial product help in this regard –

  • It is collateral-free
  • There are no end-use restrictions
  • It is pre-approved, hence, no lengthy documentation process

Even though this financial product does not require submission of any credit card loan documents, one needs to meet the required eligibility terms.

Loan against credit card eligibility Kadapa includes the following –

  • Possess an existing credit card
  • Maintain a credit score of 750
  • Have a repayment history without any defaults

Limitations Of A Credit Card Loan In Kadapa

personal loan against credit card comes with the following limitations –

  • Credit card loan pre-closure charges are high
  • The interest rate charged on a credit card debt payoff personal loan can be as high as 21% p.a.
  • Individuals with a credit score below 750 might struggle to avail this loan option
  • loan on credit card Kadapais that it is available against the unused credit limit of a payment card. Hence, the loan amount may be insufficient in some cases.

The aforementioned limitations of a credit card loan in Kadapa can offset the benefits it offers. Hence, borrowers often search for alternatives, and a gold loan can be an excellent option for them.

Difference Between A Gold Loan And Credit Card Loan

Here are some prominent differences between gold and credit card loans that one must keep in mind to make an informed decision.

Particulars

Gold loans

Credit card loans

Credit score

Not required

750+

Credit history

Not checked

Must not have any defaults

Required documents

Only KYC

No documents required

Disbursal time

1-2 hours after application

Within 24 hours

Loan amount

Depends on the pledged gold

Varies according to the limit of a credit card

Loan tenure

Short, can go up to 24 months

Long, can go up to 60 months

Rate of interest

Lower

Higher

Therefore, when compared head-to-head, it is clear that a gold loan offers better loan terms compared to a credit card loan. Hence, instead of searching for a ‘credit card lender near me’ one may consider gold-backed financing.

Even though gold loan offers better loan terms and more customer-friendly benefits, it is vital to opt for a reliable lender that makes this process even more advantageous. Rupeek is a leading gold loan provider that offers industry-first benefits like doorstep services, which help individuals to get instant online gold loans at their doorstep. You can enjoy other exclusive benefits as well by opting for our gold loan.

Features Of Rupeek’s Gold Loan To Keep An Eye Out For

Take a look at the few benefits of availing a gold loan from Rupeek –

  1. Lenient Eligibility Terms

An applicant needs to be above 18 years of age and possess gold jewellery to qualify for our gold loan.

  1. Low-Interest Rate

We levy an interest rate as low as 0.79% per month on the funds offered by us. Hence, the interest payment is not a hassle with us.

  1. High Loan Amount

The loan amount offered by us can go as high as Rs. 1.5 crores. It is possible due to our high per-gram rate.

  1. Balance Transfer Facility

The loan transfer facility offered by us is straightforward and quick. It only requires borrowers to share their existing pledge card to get funds from us. One can save up to Rs. 12,377 every lakh on a gold loan balance transfer with us.

  1. Overdraft Facility

The overdraft facility offered by us is known as Rupeek Quick. It helps individuals to pledge additional gold and get access to an extended credit line. Moreover, borrowers are only accountable for paying interest on the amount they utilise, making room for additional savings.

Localities Of Kadapa Where Rupeek Extends Its Services

Besides the above-mentioned benefits, individuals can also enjoy 30-minute doorstep service in and around the following locations in Kadapa –

  • Badvel
  • Ganganapalli
  • Galiveedu
  • Porumamilla
  • Cuddapah
  • Nandalur
  • Rayavaram
  • Rajampet
  • Rayachoti
  • Vontimitta

Even though a credit card loan in Kadapa is an accessible financing option, it does not fare well when stacked up against gold loans. The favourable loan terms make the latter a great mode of financing, and with Rupeek, one can meet any monetary requirements without any delay.

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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 happens to the credit limit when a credit card loan is availed?

Once you get a credit card loan in Kadapa, typically, the credit limit of your payment card remains intact. Thus, you can still use the unutilised limit.

  1. Does a credit card loan repayment affect the credit score of a borrower?

Yes, it can affect an individual’s credit score. Timely repayment can increase your credit score and vice versa. Hence, be fully informed about repayment before availing a credit card loan.

  1. Is having a healthy credit score mandatory to get a gold loan from Rupeek?

No, it is not necessary to have a high credit score to get funds from Rupeek. One can easily apply for a gold loan once they satisfy the age criteria, i.e. above 18 years.

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