Doorstep Loan in Hyderabad

Doorstep Loan in Hyderabad

Renowned for historical structures like the Charminar, Falaknuma Palace, and Birla Mandir, Hyderabad has emerged as a centre for oriental culture. Besides being famous for painting, jewellery, literature, and handicraft, the “City of Pearls” is a trade hub for pearls and Golconda Diamonds. Over the years, the capital city of Telangana has become a significant contributor to the state’s economy with renowned companies like Infosys, Oracle Corporation, Nuclear Fuel Complex (NFC), Hindustan Aeronautics Limited (HAL), and Tech Mahindra making up for significant corporate employment.

Living in a fast-developing metropolis requires individuals to seek external funding to address day-to-day financial requirement. However, taking time out for the extensive formalities involved in acquiring credit becomes challenging amidst a busy schedule. This has led to increasing popularity of convenient options like a doorstep loan in Hyderabad.

Understanding Doorstep Loans

Also called cash loans and home credit, these are loans borrowers can avail from the comfort of their residence. The aim here is to make external funding more conveniently available to loan-seekers, where they do not need to visit any financial institution to apply for a loan. All formalities are completed at your doorstep by a representative of the lending institution.

Generally, loans at doorstep is a western concept and not widely available in India in its true essence. However, borrowers can avail similar benefits with doorstep services offered by several banks and NBFCs with almost any type of financial product.

Types Of Doorstep Loans

Following are some of the most widely sought-after doorstep loans in Hyderabad.

  1. Doorstep Personal Loans

It’s the most common type of unsecured finance for which financial institutions offer doorstep service. However, significant drawbacks of such loans come with their eligibility criteria and elaborate documentation to compensate for the lack of security. Such requirements make doorstep personal loans not-so-easily available for individuals lacking all necessary documents or the ones with poor credit history.

  1. Doorstep Credit Card Loans

These means of finance are more suitable for individuals looking for prompt funding. Doorstep loans on credit card limit are pre-approved. They do not require you to undergo a verification process, since all your details are already updated in the bank’s database when you obtain a credit card. Borrowers get to repay the loan amount in monthly EMIs along with their credit card bill. Individuals can also have a prior idea of their monthly repayments using a doorstep loans EMI calculator available on the lending institution’s official website.

  1. Doorstep Gold Loans

Contrary to the previous two, this is secured finance and also a more viable borrowing option. Investing in gold has been a common practice in Indian household since times immemorial, although with no significant practical use. Several NBFCs now provide an efficient utility of these items of jewellery by providing doorstep loans against them. With such services, borrowers do not require risking valuables by travelling to the lender. Providing gold as security also saves individuals the hassle of meeting stringent eligibility criteria and verification process.

In addition to the above categories, willing individuals can also avail doorstep services in Hyderabad for other collateral-free funding options and secured advances like loan against property, car loan, etc.

Key Characteristics Of Doorstep Loans In Hyderabad

Following are some prominent doorstep loan features contributing to its increasing popularity in India.

  • Applicants need not step out of their houses with valuables, in case of secured funds. Instead, a loan representative visits them to complete all the required formalities.
  • Upon loan approval, borrowers can get funds transferred to their account within a few minutes, or it can take up to 2 – 4 days, based on the variant.
  • Depending on the lender, you can even get repayments collected from your residence.

To enjoy the above benefits, individuals need to match specific eligibility requirements.

Eligibility Criteria For Doorstep Loan In Hyderabad

Financial institutions came up with the idea of doorstep service as a competitive tactic to outdo other loan services. However, in order to avail the benefits of such convenient services, applicants need to conform to the following doorstep loans eligibility requirements.

  • Should be aged above 18 years.
  • Must be salaried or self-employed.
  • Be a resident of India.
  • Possess a 750+ CIBIL score (especially for unsecured loans).
  • Have income matching the lender’s criteria.

Additionally, applicants need to produce mandatory documents like ID proof, recent passport-sized photographs, residence proof, employment proof, and income proof like bank statements, ITR, salary slips, etc.

Although these eligibility requirements seem comparatively relaxed, bank-facilitated doorstep loan in Hyderabad comes with a few significant drawbacks.

  • Doorstep Services Vary Across Financial Institutions

Different lenders extend different services at customers’ doorstep. These can be completing loan applicant completion, documents pick-up, or account opening, among others. Borrowers might not be able to avail all the desired services from their home.

  • Inadequate Loan Amount

The unsecured variants are generally short-term loans, which automatically makes the funds small in amount. They might not be an ideal financing option for high-cost requirements.

  • High Borrowing Cost

Due to the unsecured nature of most doorstep funds, lenders charge strikingly high interest rates against such loans. The processing fees and other charges further contribute to a high borrowing cost, making them unviable for most loan-seekers.

The good news is, borrowers can avoid all these inconveniences by opting for a gold-backed doorstep loan in Hyderabad from Rupeek. We are a fintech company that aims to make instant funds available to individuals with varying financial backgrounds, across India.

Avail Rupeek Gold Loan At Your Doorstep

Some of the most striking benefits of availing a Rupeek gold loan are as follows:

  • Affordable Interest Rates: Rupeek levies the lowest doorstep loan interest rates, starting from 0.49% per month. This helps reduce borrowing cost-effectively and makes such funds viable for all individuals.
  • Flexible Repayment: Borrowers have the liberty to choose from multiple repayment schemes, allowing them to pay either in traditional EMIs, or pay as per convenience within loan tenure.
  • Prompt Loan Transfer: We prioritise speedy loan approval and disbursal within as early as 30 minutes, depending on your location.
  • Large Loan Amount: Individuals can avail gold-backed doorstep loans from Rupeek up to Rs. 1.5 crore, depending on their gold’s quantity and current market value. Check available loan amount against your collaterals using our 100% transparent online gold loan calculator.
  • Balance Transfer Facility: Shift your current gold loan to Rupeek using our balance transfer Submit your existing loan pledge card along with required documents and enjoy interest savings up to Rs. 12,377 per lakh.

The list of benefits continues into a striking overdraft loan facility exclusive to our customer base.

Gold Credit Line Facility

Existing customers are eligible for a unique gold overdraft loan facility titled Rupeek Quick by collateralising extra gold items. Under this facility, they can avail a specific credit limit in their in-app wallets for withdrawal as and when required. This is especially beneficial for individuals seeking prompt, short-term funding since they only need to incur interest on the withdrawn amount, and not the entire loan limit.

Join our customer base to enjoy more such exclusive offers and spare yourself the search for ‘doorstep loan providers near me’ every time you require funds.

Localities Where You Can Avail Rupeek Gold Loan In Hyderabad

Avail Rupeek’s 30-minute loan approval policy from the following areas in Hyderabad.

  • Secunderabad
  • Kukatpally
  • Banjara Hills
  • Begum Bazar
  • Jubilee Hills
  • Vikarabad
  • Begumpet
  • Falaknuma
  • Golconda
  • Himayathnagar
  • Khairatabad
  • Miyapur
  • Bowenpally
  • Chandanagar
  • Ghatkesar
  • Balnagar
  • Sanjeev Reddy Nagar
  • Amberpet
  • Erragadda
  • HimayatSagar
  • Shamirpet
  • Somajiguda
  • Yousufguda
  • Musheerabad
  • Sainikpuri
  • Tarnaka
  • Alwal
  • Bahadurpura
  • Film Nagar
  • Gandhinagar

Forget the hassles of getting financial aid in India’s sixth-most populous metropolitan city. Apply for a gold-backed doorstep loan in Hyderabad from Rupeek and grab the best deals.

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Benefits of Gold Loan over Doorstep Loan.
  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
  • 20 lakh
Comparision Parameters Doorstep 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. Are all doorstep loans unsecured?

Although many financial institutions offer doorstep services on availing unsecured funds, borrowers can also avail secured loans like gold loans at their doorstep.

  1. Can I avail a doorstep gold loan without a credit check?

Yes, Rupeek does not mandate any CIBIL score or credit history check to approve applicants’ qualification for a gold loan.

  1. How do I check the credibility of a doorstep loan company?

Given the increasing rate of online loan scams, it is wise to check your lenders’ reliability when availing doorstep service from online platforms. This can be done by checking a few things like, if the lenders own a registered domain, display an active contact number, are professional in their marketing and approach, have verified reviews, and are authorised under the Financial Conduct Authority (FCA). Non-compliance with any of these factors, or any other unscrupulous activities should alert loan-seekers right away and prevent them from proceeding further with their applications.

  1. What should I look out for when choosing a gold loan provider?

Interest rates are undoubtedly an important factor to look out for when availing external funds, but it’s not the only criterion. Individuals must also consider other factors like loan value offered, and LTV provided. Plus, they must enquire the lending institution for repayment options and additional fees and charges.

  1. How do I make partial repayment of Rupeek gold loan?

In case you want to make part payment of gold-backed loans, head to the Repay your loan page. Sign in to your account with the mobile number registered with us and OTP. Subsequently, select ‘Part Payment’ and pay an amount that’s greater than the interest incurred per month, but lesser than the full-closure amount.

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