Credit Card Loan in Ludhiana

Credit Card Loan in Ludhiana

Home to nearly 19% of Punjab’s workforce, Ludhiana has the highest number of per capita vehicles in India. Located at the north of Delhi, it has an approximate population of around 16 lakhs, as per the Business Line. It is also referred to as Manchester of India, by the BBC due to the city catering to a number of industries.

With the gradual increase in prices of commodities, a credit card loan in Ludhiana is getting more popular by the day to meet growing consumer demands for low-scale and high-scale expenses. Liquidating hard-earned savings, on the other hand, is slowly falling out of favour. An extended tenure to repay the loan, rather than paying monthly credit card bills is a major reason for opting for an instant loan on credit card.

Credit Card Loan – A Reliable Alternative

In a quest to meet emergency expenses on short notice, many opt for a loan against credit card. This type of personal loan is based on the pre-determined credit card limit provided to existing and new credit cardholders.

A common misconception is that a loan on credit card Ludhiana is in essence, increasing the credit limit. However, in reality, banks and financial institutions will only provide a credit card loan from your unused credit limit.

Credit card refinancing is a convenient option for a multitude of reasons. They are:

  1. Minimal documentation process makes it a fast and hassle-free process. The credit card issuer is already provided with these, saving you valuable time during emergencies.
  2. Easy EMI options are always a relief, as there is no need to repay the amount immediately.
  3. Instant loan on a credit card does not require any verification of the user-end intentions. The flexibility is with the user to spend the money as he/she wishes to.
  4. Borrowers get credit card loans over their pre-approved credit limit depending on the repayment history of the individual.

Credit card loans are criteria bound, and a person’s eligibility depends on a clean repayment history to get the required funds.

Although these are convenient and hassle-free options, it also poses a considerable number of restrictions in terms of the amount you can borrow. It also calls for high interest rates as it is collateral-free.

Also, searching for ‘credit card loan lenders near me’ might not be fruitful when you are new card user or need high-value, affordable funding. Thus, you may consider a gold loan as an alternative to deal with any monetary crisis.

Merits Of A Gold Loan Over A Credit Card Loan

Gold loan is a suitable substitute for credit card loans – with minimal eligibility criteria. It is a go-to option for people looking for loans at low interest rates. Here are a few ways a gold loan can be used:

  1. It can play a key role in helping you to save on your debt consolidation – courtesy its lower interest rates. A gold-backed credit card consolidation loan can also help clear outstanding credit card bills or other financial liabilities.
  2. Medical emergencies, more often than not, come with hefty bills. Gold loans can substantially help pay these, with its short disbursal period.
  3. Businesses also need an occasional cash injection to expand operations. Flexibility in loan repayment without hidden expenses makes it a preferable choice.
  4. Gold loans with their ease of availability and usage-flexibility are used for a number of purposes, like funding higher education, or any other sudden expenses.

A trustworthy lender is instrumental for an enhanced borrowing experience. Ensure choosing a lender who can offer the best features, apart from those mentioned above. With first-in-the-industry provisions coupled with doorstep services, Rupeek can be an ideal lending institution to provide you with a feature-filled gold loan.

Exclusive Rupeek Features Of Gold Loan

With Rupeek, you can get a host of facilities for you to have a hassle-free and pleasant borrowing experience:

  1. Online Application

You can register with your phone number and apply for a loan of your choice. Our representative will contact you for further details. 

Upon verification of KYC documents and the gold jewellery valuation, the funds will be disbursed to your preferred bank account. The total duration for the approval process is around 45 - 60 minutes.

  1. High Per Gram Rate

With our attractive per gram rate of gold, one can avail high-value loans in exchange for gold accessories. The loan you can take out can go up to Rs. 1.5 crores. Additionally, interested customers can also take the assistance of gold loan calculator to know estimates of their loan amount.

  1. Security

We transport the gold valuables in a GPS-enabled bag and store them in military-grade bank vaults to ensure the pledged gold's safety. Coupled with robust security protocols, we additionally provide insurance coverage of your gold jewellery for contingency measures. 

  1. 79% Interest Rate

Rupeek offers affordable interest rates, starting at as low as 0.49%, making interest payments minimal.

  1. Easy Repayment Facility

Flexibility in choosing the tenure of repayment – whether through monthly instalments or in whichever way it is convenient.

These are not the only benefits of our gold loan over a credit card loan in Ludhiana. As a Rupeek customer, you are also privy to the exclusive overdraft loan against gold.

Gold Overdraft Facility

Besides the ones mentioned above, Rupeek also provides an overdraft facility. Aliased Rupeek Quick, this facility enables our customers to have an extended credit limit by pledging additional gold.

This facility's main benefit is you do not need to pay interest for the entire credit line but only on the withdrawn amount. Plus, instantaneous access to the extended credit line is also why you can opt for our services.

Rupeek Service Locations In Ludhiana

You can also enjoy our 30-minute doorstep service in the following locations in Ludhiana –

  • Dhandari Kalan
  • Basti Jodhewal
  • Focal Point
  • Brown Road
  • Sarabha Nagar
  • Ferozpur Road
  • Gill Road
  • Model Town

The gradual increase in prices of goods and commodities calls for occasional short-term or long-term loans to meet sudden expenses. While a credit card loan in Ludhiana may be a preferred financing solution during emergencies, it’s seldom suitable if you need substantial funds.

Thus, if you are looking for low-cost, high-value funds, apply here.

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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. What happens to my credit card limit after I opt for a credit card loan?

Most financial institutions do not block credit card limit should you opt for a credit card loan. For further information, you can call credit card loan customer care number Ludhiana.

  1. Is my gold secure with Rupeek?

Rupeek adheres to ISO 9011:2015 regulations and provides complimentary gold insurance cover during the tenure to maximise security.

  1. Are all gold items accepted?

No, Rupeek only accepts gold jewellery of 18 carats and above as collateral against gold loans. Our partners do not currently accept gold bars or coins.

  1. What do I do if there’s a discrepancy in the returned gold from Rupeek?

You need to contact our customer support, and we will be happy to assist you with any such queries.

  1. Is it possible to change my mobile number connected with my credit card loan?

If you require updating any of your contact information, you can simply contact the institution's support team. They will change your phone number or any other contact information, as you want. They can otherwise provide information on the required procedure.

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