Credit Card Loan in Trivandrum

Officially known as Thiruvananthapuram, Trivandrum, the capital of Kerala is located in the southern-most part of India along the west coast. Built on top of seven hills, this city is flanked on the west by the Lakshadweep Sea and on the east by the Western Ghats.

Some of the most popular tourist destinations in Trivandrum include Poovar Island and Kanakunnu Palace. This city is also renowned for being home to the famous Padmanabhaswamy Temple. As for its economy, besides the handicrafts and textile industries, its IT and tourism sectors are major contributors.

Recently, owing to its economic development, the cost of living in Trivandrum has significantly increased. This has led individuals to opt for a credit card loan in Trivandrum to meet their financial requirements. For residents of Trivandrum, choosing to avail a credit card loan can be a viable solution to their financial woes.

Following are some of the notable features of a credit card loan:

The interest rate on loan against credit card will depend on the borrower’s credit repayment history and income.
Since this form of financial assistance is a preapproved offer, borrowers are not required to submit documents such as income proof, address proof and more.
The loan amount can be repaid through monthly instalments.
Some lending institutions may allow availing a credit card consolidation loan which enables to transfer the outstanding balance of different credit cards to a single one.
This type of loan is an unsecured one and does not require any collateral.

To avail a loan on credit card Trivandrum, one needs to fulfil the following eligibility criteria:

He/she must be a credit cardholder.
CIBIL score eligibility for credit card loans should be preferably above 750.
Must have a decent credit repayment pattern.

Although individuals are not required to submit credit card loan documents, fulfilling the eligibility criteria can pose to be a challenge. Moreover, the high interest rates charged on the loan amount by lending institutions can soon become a burden. If your credit score is not adequate to avail a credit card loan in Trivandrum, opting for a gold loan instead can be an ideal solution.

A gold loan is a type of secured lending option, sanctioned by a lender against gold ornaments pledged by the borrower. It is essential for all borrowers to note that the purity level of the ornaments should be at least 18 carats.

Following are the differences between a gold loan and a credit card loan in Trivandrum:

Basis of Comparison	Gold Loan	Credit Card Loan
Type of Loan	This a secured loan which can be availed by pledging gold ornaments as collateral.	This is an unsecured loan; no collateral is required.
Credit score requirement	Contrary to a credit card takeover loan Trivandrum, the credit score is not taken into account.	Borrowers’ credit score must be as per the requirement of the financial institution, which is usually above 750.
Interest rate	The interest rate on the loan amount does not depend on the income of the borrower.	The interest rate is determined by the income and credit profile of the borrower. Hence, to be eligible for credit card lowest interest rate Trivandrum, you’ll require an excellent credit repayment history.
Loan repayment flexibility	In case of a gold loan, you can opt to make repayments via instalments. Or, you can choose to repay the entire amount at the end of the loan tenure.	The repayment options of credit card loans are not as flexible.
Loan tenure	A gold loan has a short repayment tenure, for example, 6 months.	A credit card loan has a longer repayment tenure as compared to a gold loan.

From the above tabular representation, it can be observed that the features of a gold loan appear are more borrower-friendly than a credit card loan in Trivandrum. Hence, it has become a preferred means of financing for most individuals. Moreover, with additional benefits such as doorstep service and gold loan calculator offered by Rupeek, financing big and small-ticket expenses is now more convenient than ever.

The following are the benefits extended by Rupeek under its gold loan -

Doorstep Service: We provide doorstep service to make the whole procedure as convenient as possible.
No End-use Limitations: You can use the sanctioned loan amount to finance all types of requirements.
CIBIL Score Not Required: Unlike a credit card loan in Trivandrum, your CIBIL score is not taken into account when availing a gold loan from us.
Hassle-free Documentation: You only need to submit your KYC documents.
Maximum Safety: Once the formalities are complete, your gold is transported to the authorised bank branch in a sealed bag with a GPS tracker. On reaching the bank, it is stored in a secured locker under military-grade surveillance. Moreover, we also provide 100% door to door insurance.
Loan Overdraft Against Gold: With us, you can avail a loan overdraft against gold. This facility is known as Rupeek Quick. This enables you to pay interest only on the amount that you utilise out of the total sanctioned limit.

As noted above, our doorstep loan facility makes it possible for Trivandrum residents to avail our services from the comfort of their homes. To avail a gold loan, place a request via our app, and our executive will reach your location on the scheduled time.

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	-