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

Credit Card Loan in Surat

Surat, the eighth-largest city in India, is famous for its diamond polishing and textile industry. It has earned Surat the status of both ‘Diamond City of India’ and ‘Silk City of India’. Places like Dutch Garden, Hajira Village, Dumas Beach, Dandi Beach, Sardar Patel Museum, Suvali beach, and Sarthana Village serve as Surat’s top tourist attractions.

The city is home to various domestic and international IT companies. Recent technological developments have made access to products like a credit card loan in Surat simpler. Individuals can easily access loans of this type to address a range of financial obligations, like shortage in inventory, medical emergencies, etc.

Features Of A Credit Card Loan

Financial institutions offer an instant loan on credit card against the unutilised credit limit of a borrower. While availing a credit card loan, individuals must know the following features to make a wise decision.

  1. Collateral-free Loans: Individuals do not need to pledge any collateral while applying for the same as a loan against credit card is unsecured.
  2. Interest Rate: The interest rate of credit card loans varies with each financial institution. Due to the unsecured nature of credit card loans, banks and institutions charge a higher interest rate.
  3. EMI Payments: The prime advantage of availing a credit card loan in Surat is that it can be repaid in EMIs. Here, individuals need not worry about paying anything at once, like in credit card bills.
  4. Eligibility: To get a credit card refinancing in Surat, one must fulfil the card issuer’s basic eligibility parameters. With an excellent credit score and a healthy repayment history, individuals can easily access this loan.
  5. Documentation: Individuals do not have to submit any credit card loan document while applying for the same. It saves on processing time, ensuring faster disbursal.
  6. Guarantor Is Not Required: While applying for credit card loans, individuals do not need to present any guarantor or post-dated cheque.

Drawbacks Of A Credit Card Loan

The beneficial features of credit card loans come handy during a financial crunch. However, these types of financial tools have certain shortcomings too. As credit card loans are unsecured, financial institutions run a higher risk of non-repayment. Resultantly, banks and NBFCs charge a higher interest rate, making it an expensive financial product.

Not only that, if an individual fails to pay monthly instalments in due time, she/he must bear the penalty charges demanded by the lending institution. Also, individuals cannot get credit card loan with bad credit score.

As an alternative, people can consider a gold loan. It offers similar benefits like quick availability of funds but sans the strict eligibility norms or excessive rates of interest.

Reasons To Consider Gold Loan As An Alternative

Individuals can utilise gold ornaments’ monetary value during urgent cash requirements to meet several of their personal expenses.

A distinctive discussion between a loan on credit card and gold loans will illustrate the underlying benefits of availing the latter.

Particulars

Credit card loan

Gold loan

Loan type

Unsecured

Secured

Interest Rate

Higher

Lower

Eligibility criteria

Stringent

Relaxed

Credit card

Required

Not required

CIBIL Score

750 or above

Not required

Loan amount

Comparatively lower (Depends on the credit limit of the borrower)

Higher (Depends on the amount and quality of gold an individual pledges)

Rupeek brings additional features to the plate to ensure you can maximise your benefits of availing a gold loan over a credit card loan in Surat.

Merits of Rupeek

The 100% transparent gold loan process and consumer-friendly repayment schemes of Rupeek are designed to help individuals looking for instant funds. Following are the features and benefits individuals can expect while applying for a gold loan with us. 

  • Quick Disbursal Up to Rs. 1.5 crores

With Rupeek, individuals can get up to Rs. 1.5 crores within an hour. From gold loan application to KYC verification to loan disbursal, we take only 45-60 minutes. With such a faster processing time and disbursal, people in Surat can meet any urgent personal obligation timely.

  • Doorstep Services In 30 Minutes

By availing gold loan services from Rupeek, individuals can enjoy doorstep instant gold loan services. Once a borrower requests a gold loan with Rupeek, the gold loan executive reaches at the borrower’s preferred location within 30 minutes to complete all the formalities. The doorstep gold loan services of Rupeek reduce the risk of carrying gold valuables outside and assure the utmost privacy.

  • Competitive Interest Rates

Unlike a credit card takeover loan Surat, the interest payment is more manageable with Rupeek. Our starting interest rate is 0.79% per month. Thus, individuals can save sizeably by opting for our gold loan.

  • Highest LTV

Loan to Value ratio is the amount individuals get against their pledged gold. With Rupeek, individuals are guaranteed to get maximum cash against the pledged gold as we offer LTV up to 80%. To get a clear understanding of the loan amount beforehand, borrowers can use our user-friendly gold loan calculator.

  • Flexible Repayment

We offer multiple repayment options as opposed to a credit card loan that you need to pay in EMIs only. Individuals can opt for a monthly payment option or repay any time as per their convenience within the 6 months gold loan tenure.

The multitudinous benefits and facilities of Rupeek do not conclude here. Individuals can also access an instant credit line against gold by opting for our services.

To know more about the gold overdraft facility, continue reading.

Rupeek’s Gold Overdraft Facility

The gold overdraft facility also referred to as ‘Rupeek Quick’ enables borrowers to secure a credit line. By availing this facility, borrowers can withdraw cash any time as per their requirement form a pre-set limit. Moreover, they can save a considerable amount as they must pay interest only on the utilised amount from the sanctioned limit and not on the entire loan amount.

To ensure individuals get access to quick funding during an emergency liquidity crisis, we offer our services across all central locations in Surat.

Availability Of Rupeek In Surat

You can enjoy our doorstep gold loan up to Rs. 1.5 crores in Surat in the following locations –

  • Dumas Road
  • Udhana - Magdalla Road
  • Hajira
  • New textile market
  • Katargam
  • Pal
  • Amroli
  • Sachin
  • Umarwada
  • Dumas
  • Adajan
  • Mota Varachha
  • Olpad
  • Piplod

Your search for ‘credit card loan lenders near me’ comes to an end with us. Avail our gold loan today and enjoy 100% transparent process, flexibility in repayment, and a sizeable loan amount in just 60 minutes.

Click 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. Which factors affect credit card loan eligibility?

Factors like credit score and repayment history affect the eligibility of a loan against credit card in Surat. A low score and record of payment default can impact your eligibility negatively?

  1. How can I get a credit card loan?

You can get a credit card loan only if you have an existing card with an unused limit. If so, apply for this loan online by putting in a request with your credit card issuer.

  1. What basic pointers does one need to keep in mind while taking a gold loan?

When you are availing a gold loan, consider the LTV offered, the interest charged, repayment options, range of loan amount, and the quantity and quality of gold ornaments you hold.

  1. Can I repledge my existing gold loan?

Indeed, you can repledge the jewels to continue your existing gold loan. To initiate the process, you need to contact our customer support team, who will guide you throughout the process.

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

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

  1. Are all credit cardholders eligible for a loan on the credit card?

No, all credit card holders are not eligible for credit card loans. Based on credit score, repayment history, individuals get a loan against credit card.

  1. How can I apply for a credit card loan?

Individuals can apply for a credit card loan through both online and offline mode.

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