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

Credit Card Loan in Kanyakumari

The southernmost town in mainland India, Kanyakumari or Cape Comorin, is widely touted as ‘The Land’s End’. The town is a popular tourist destination in the country and is famous for its unique vista.

Landmarks like Vivekananda Rock Memorial, Thiruvalluvar Statue, Gandhi Memorial Mandapam, along with its geographical location, reflects the beauty and rich heritage of Kanyakumari.

The economy of Kanyakumari largely extracts its revenue from tourism. However, as tourism serves as the only base of economic foundation here, individuals often avail the assistance of financial products like a credit card loan in Kanyakumari to cover various small and big-ticket purchases.

Overview of Loans On Credit Card In Kanyakumari

Credit card loan in Kanyakumari is extended by banks and NBFCs to individuals against the unused limit on their credit cards.

This financing option comes handy, especially during times of financial emergencies and liquidity crisis. Borrowers can take also opt for this loan to pay credit card outstanding. Individuals can repay this loan amount through Equated Monthly Instalments or EMIs for a limited tenure against the interest rate offered by their lender.

Nonetheless, to avail this loan, borrowers must be aware of a few pertinent information -

Pointers

Description

Eligibility

Credit cardholders must maintain a CIBIL score of 750 or above, alongside a healthy purchase and repayment history.

Documentation

No additional documents are required.

Loan Quantum

Extends up to 5 years (may vary with different financial institutions).

Loan Amount

Depends on the credit limit of individual and other related policies of the lending institution.

Interest Rate

Usually higher (may vary with a different financial institution as well as with customers’ profile).

Processing Time

Within 1 day if the borrower has savings account in the same bank. It can also take 5-7 working days or more with NEFT or Demand Draft.

Disadvantages Of Loans On Credit Card Kanyakumari

Though a credit card loan in Kanyakumari offers numerous benefits during a liquidity crisis, these financing options come with several disadvantages.

The major drawbacks of loan against credit card are the higher interest rates. As financial institutions run a greater risk of future default in case of an unsecured credit card loan in Kanyakumari, they levy a higher interest rate against this financial product. Resultantly, credit card loans are more expensive.

Also, the strict eligibility criteria of credit card loans reduce the ease of access to this form of financing. That is why individuals cannot avail credit card loan bad credit.

In cases like this, individuals can consider gold loan as a more convenient substitute, owing to its relaxed eligibility and various attractive benefits.

Gold Loan- A Smart Alternative

During urgent cash requirements, individuals can leverage the monetary value of gold items to avail funds. The secured nature of this type of loans allows borrowers to avail them against interest rates. Moreover, any individual with gold assets can apply for this financing as they need not worry about the strict eligibility as associated with an instant loan on credit card.

The multitudinous benefits of gold loans act as the best financial support at times of need. It is in here that Rupeek’s gold loan comes as an aid. 

Merits of Availing A Gold Loan From Rupeek

While availing a gold loan from Rupeek, individuals residing in Kanyakumari can expect these following benefits -

  • With Rupeek, individuals can avail a gold loan in just 45-60 minutes.
  • Contrary to a credit card loan in Kanyakumari where individuals have to visit banks or apply online, submit the application form and wait for the loan to get disbursed, Rupeek provides doorstep instant gold loan
  • The interest rate offered is much lower than credit card loans, and start at 0.79% per month.
  • We offer the highest LTV up to 80% in Kanyakumari.
  • Rupeek provides gold loan up to Rs. 1.5 crores. Individuals can use the gold loan calculator to evaluate the loan amount they can avail beforehand.
  • Our flexible repayment options can benefit borrowers greatly. They can enjoy the liberty to pay either on a monthly basis or any time as per their convenience within the gold loan quantum.

Along with these features and benefits, individuals can also enjoy our gold overdraft facility.

Gold Overdraft Facility

Also known as ‘Rupeek Quick’, this gold overdraft facility offers individuals the advantage of securing a credit line. Not only does this facility enable borrowers to withdraw cash as per their need from a pre-sanctioned limit, but also help to save substantially as they only pay interest on the expended loan amount.

Individuals willing to enjoy all the benefits mentioned above can find us in all the major locations in Kanyakumari.

Presence of Rupeek

To enjoy the lucrative offerings of Rupeek, look for us in the following areas,

  • Nagercoil
  • Thuckalay
  • Marthandam
  • Colachel
  • Kuzhithurai
  • Kulasekharam
  • Tiruvattar
  • Arumanai
  • Pudukadai
  • Manavalakurichi
  • Thengapattanam

So, stop searching for credit card loan providers near me and instead avail gold loan from Rupek Fintech to multiply the benefits.

Alleviate all your financial worries with Rupeek and apply now!

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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 basic factors does one need to keep in mind while availing a gold loan?

While opting for a gold loan, one needs to keep a few factors in his/her bearing. These include Loan to Value ratio, interest rate, additional fees and charges, the safety of the gold items, repayment schemes.

  1. Can I select partial gold loan repayment?

Yes, you can select partial gold loan repayment. Known as the part release, the payable amount must range between the interest payment and any amount less than the full-closure amount.

  1. Can I get a gold loan against gold bars?

No, you cannot get a gold loan against gold bars. The partner bank of Rupeek only accepts gold jewellery of 18 carats or above.

  1. Can every credit cardholder avail a loan against credit card?

No, every credit card holder cannot avail a loan against credit card. The eligibility of the borrower is decided based on his/her credit score and repayment history.

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