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Kochi
Credit Card Loan in Kochi
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Credit Card Loan in Kochi

Located in India's southwest region, Kochi is one of the fastest developing industrial and commercial cities. In recent times, Kochi has witnessed remarkable growth in heavy investments that created an unprecedented proliferation in its business sector. The city and its adjoining districts now heavily contribute to the state revenue, which amounts to almost 15.1 %.

The major business sectors in Kochi include construction, spice exports, chemical industries, tourism, health services and banking. Furthermore, the well-connected inter and intra-state connectivity has also made Kochi a lucrative location for IT investments. As stated by India Briefing, Kerala's government has developed dedicated IT parks across 4 locations in the city, which houses over 200 companies like Wipro, Cognizant, Tata Consultancy Services, and more.

Following immense growth in several service sectors, the city now witnesses an increased workforce travelling from around the country. The major expenditure of these individuals lies in property rentals and other essential services. People often avail credit card loan in Kochi as a beneficial financial tool to effectively meet respective needs.

How Is Loan Against Credit Card A Convenient Option?

It is a type of personal loan that helps to meet myriad of financial needs conveniently. This loan is provided to both new and existing credit card users. Card issuers offer a suitable amount against the unused credit limit.

There are several factors which make credit card loans a beneficial option, such as –

  • Credit card loans are unsecured.
  • Loans on credit cards are pre-approved. Therefore, individuals will not have to face the hassles of documentation.
  • Option to pay back the loan interest in monthly instalments.
  • A credit card loan Kochi does not come with any end-use restriction.

However, to avail personal loan against credit cards borrowers should have a credit history without any default. The CIBIL score eligibility for credit card loan is also very stringent.

Since these loans are unsecured, loan on credit card Kochi interest rate is considerably higher and any lapse in repayment of the EMIs subject you to penalty charges. Plus, if you need sizeable funds, a credit card loan in Kochi might not be a viable option as these are not high-value loans.

Because of these inconveniences, a gold loan can be an effective alternative.

What Are The Advantages Of Gold Loan Over Credit Card Loan In Kochi?

There are several perks of a gold loan over a credit card consolidation loan, like:

  • Gold loans are essentially secured and, hence, has less stringent eligibility criteria.
  • Due to being secured, the interest rates of these loans are lower
  • Further, gold loans are generally high-value loans and hence are more suitable to meet big-ticket emergency expenses.
  • Individuals can, therefore, benefit from a gold loan in the following ways like:
  • The lower interest rates of gold loan prove extremely beneficial in debt consolidations and can help you save a great deal. You can conveniently take a gold loan to pay credit card outstanding or any other expenses. 
  • The high-value factor of gold loan proves immensely beneficial over credit card refinancing Kochiin meeting medical emergencies that require lumpsum expenditure.
  • Furthermore, the repayment flexibility of gold loan also makes it a better choice for meeting business expenditures.

However, it becomes important to choose a reliable lender to maximise the benefits of a gold loan. Rupeek can be an ideal partner in this regard. We have an exclusive range of perks and benefits like doorstep services, repayment flexibility, instant loan approval and disbursement, which collectively simplify the entire process.

What Are The Important Features of Rupeek?

Rupeek redefines a gold loan concept with robust security measures and customer-friendly services, making it the best alternative over a loan against credit card.

  • Easy Online Registration With Doorstep Services

Our entire process functions online. Borrowers simply need to initiate a loan request by registering their mobile number. Following which our representatives will communicate you for further processing. After completing the initial registration process, our loan manager will visit your house to verify the documents and assess the gold. Once the verification is complete, the loan amount will be credited within 45-60 minutes.

  • Robust Security

We understand your concerns about your assets’ safety and, hence, we take advanced security measures. We use GPS-traceable bags to carry the ornaments to the nearest bank vaults. Further, we also offer a complimentary door-to-door gold insurance policy to cover you in case of any mishap.

  • Higher LTV

Our highest loan to value ratio is 80%. Therefore, you can avail the maximum amount against the pledge ornaments which can range anything between Rs. 15,000 to Rs. 1.5 crores. You can take the assistance of the gold loan calculator to understand the amount you are eligible to borrow.

  • Repayment Flexibility

Borrowers enjoy a flexible repayment option with us. They can either opt for the ‘no tension plan’, which allows you to pay the entire outstanding amount any time within the loan tenure. You can alternatively pay in equated monthly instalments.

  • Overdraft Facility Against Gold Loan

We also offer a customer-friendly overdraft facility, popularly known as Rupeek Quick. This allows you to withdraw funds from a pre-determined credit limit whenever necessary and pay interest only on the amount withdrawn and not on the entire credit line.

Which Areas Do We Serve In Kochi?

We extend our services in the following areas in Kochi.

  • Airport Road
  • Willingdon Island
  • Aluva
  • Kakkanad
  • Kumbalangi
  • Muvattupuzha
  • Tripunithura
  • Infoparkkochi
  • Kalamassery
  • Perumbavoor
  • Mattancherry
  • Palarivattom

Therefore, though an instant loan on credit card is a beneficial financial tool, the loan against credit card eligibility criteria are often restrictive for specific individuals. It often motivates borrowers to search for better alternatives. 

To bypass the difficult requirements of a credit card loan in Kochi, gold loan is the most convenient option. And with Rupeek as a lending partner, you can be at ease and make your borrowing experience more pleasant

Thus, instead of searching for a credit card loan provider near me, check out Rupeek’s gold loan option for better financial deals.

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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 are the documents required for Rupeek gold loan?

Rupeek gold loan process is almost paperless. All you need to submit are the KYC documents and address proof (if necessary).

  1. What are the basic eligibility criteria for credit card loan?

The eligibility criteria for credit card loans differ from bank to bank. However, since credit card loans are unsecured, one should have a good CIBIL score, preferably above 750 and should have good repayment history. You can use your respective financial institution's credit card loan customer care number to learn about the requirements.

  1. What is the borrowing limit of credit card loan?

Ideally, the borrowing limit of credit card loan in Kochi is the pre-approved limit set by the provider.

  1. Is my credit score affected if I take a gold loan?

Yes, timely repayment of a gold loan will help you to improve credit score. It is the same for any type of loan. Make sure you are completely aware of the repayable amount and associated terms before availing a loan.

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