Credit Card Loan in Patiala

Credit Card Loan in Patiala

Patiala is a fast-emerging industrial centre in Punjab and also the state’s 4th most populated district. It is segregated into three sub-divisions – Patiala, Nabha and Rajpur. This district is renowned for a destination like the Gurdwara Dukh Nivaran Sahib, Kali temple, Baradari Garden, and Moti Bagh Palace. 

The district has an average salary of Rs. 2.99 lakhs and the cost of living is 100% higher than the national average, according to a report by Payscale. To keep up with such standards of living, people can consider a credit card loan in Patiala

What Makes Credit Card Loans A Convenient Option?

It is not always feasible to avail a loan by submitting all sorts of documents anew. Under these circumstances, a credit card loan makes for a viable funding solution. Individuals can avoid dipping their hands into their savings account in case of a financial crisis or large-scale expenditures with this financing option.

Here is a list of features of instant loan on credit card -  

  • Application Process: In the case of credit card refinancing Patiala, the application process remains hassle-free. Financial institutions already possess necessary details about the borrower as he/she is an existing cardholder. 
  • Repayment Policy: A personal loan against credit cardoffers borrowers the option to repay the loan amount in simple instalments. Use the credit card loan calculator to calculate your monthly outgo. To make the repayment process more streamlined, you can also look for credit card lowest interest rate Patiala for it varies from one credit card provider to the other.
  • Negligible Documentation: Such loans are mostly pre-approved. This is why they don’t have to submit any additional documents. It simplifies the documentation process, ensuring quick fund transfer. 

Nevertheless, one needs to satisfy basic criteria like default-free repayment history and a high credit score to qualify for this loan or avail a high amount against the unused limit of their card.

A major drawback of a credit card loan in Patiala is it entails high interest rates as it is unsecured. People looking for sizeable funds may find repayment challenging because of this reason. A person can consider a gold loan as an alternative in such cases. 

Gold Loans Vs Credit Card Loans

There is a distinct differentiation that exists between credit card loans in Patiala and gold loans. Mentioned here are the points the segregates the two. 

Gold Loans 

  • Secured mode of finance where the borrower is required to provide gold ornaments as collateral.
  • The interest rate for gold loans is lower. 
  • A higher loan amount can be availed as gold is a valuable asset. 
  • CIBIL score isn’t taken into consideration for gold loan approval. 

Credit card loans

  • Unsecured mode of financing, leading to higher rates of interest
  • The loan amount depends on the credit limit of your card. 
  • A CIBIL score of 750 or above is required for credit card loan approval. 

Besides the aforesaid advantages over a credit card takeover loan Patiala, you can also enjoy services like doorstep loan, overdraft facility, and interest rates starting from 0.49% with Rupeek.

Features Of Rupeek Gold Loan

Mentioned here are a few features of our gold loan that makes it a viable alternative compared to a credit card loan in Patiala

  • High LTV: Avail the highest per-gram rate of your gold ornaments in Patiala with Rupeek. With LTV as high as 80%, one can get up to Rs. 1.5 crores against their gold. You can also use a gold loan calculator to find out the loan amount you are eligible for. 
  • Doorstep Services: It only takes 60 minutes for fund disbursal when applying for a gold loan from Rupeek. We provide doorstep service, reaching your home within 30 minutes of submitting a loan application. Within the next 30 minutes, gold appraisal, documentation, and loan disbursal take place. Officials won’t leave premises until loan amount reaches your account.
  • Flexibility In Repayment: You would need to repay a credit card loan in Patiala in EMIs. We do not have any mandates of that sort. Pay EMIs or any amount any time during the tenure. Choose a scheme as per your suitability.
  • Overdraft Loan Against Gold: Rupeek also offers customers with their overdraft facility known as Rupeek Quick. It enables customers enjoy an extended credit line, wherein they have to pay interest on the amount withdrawn from the pre-set credit line. It equips them with instant funds for any emergency financial requirement. 

Our extensive service network in Patiala is another reason why individuals can rely on us during emergencies at any time.

Rupeek’s Top Service Localities In Patiala

  • Patrans 
  • Bhadson road
  • Nabha
  • Banur 
  • Rajpur 
  • Ghanaur 
  • Devigarh 
  • Bhadson 
  • Samana
  • Ghagga 
  • Amloh 

Although a credit card loan in Patiala may seem more viable in case of emergency fund requirement, the approval process for the same can be a hassle for some people. It also comes with a high interest rate, which increases monthly outgo. 

So, why search for credit card loans near me, when you can go for Rupeek gold loans, which are more convenient and ensure financial stability. 

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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. How much loan can an applicant apply for on their credit card?

The loan amount available for disbursal depends on two factors, which is the applicant’s available credit limit and credit profile. The person’s disposable income can also be a factor.

  1. Can I repay credit card bills with a gold loan?

You can use a gold loan to cover any kind of expense, including paying off credit card bills.

  1. What happens to the credit limit when you avail a credit card loan?

Most financial institutions do not change your credit limit even if you avail a credit card loan. You can continue to use the available credit limit on your card.

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