close btn

Service Update- (Covid-19)

In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

Doorstep Loan in Vadodara
doorstep-loan-in-Vadodara

Doorstep Loan in Vadodara

Commonly referred to as Baroda, Vadodara is one of the largest cities in Gujarat. Located near River Vishwamitri, this city has several known architectural marvels such as Maharaja Sayajirao University and Lakshmi Vilas Palace. It is also home to the oldest cricket ground in Asia, called Moti Baug and a privately-owned Reliance Industries stadium called the Reliance Stadium. The city has also given our nation notable cricketers like Hardik Pandya, Irfan Pathan, Yusuf Pathan, Deepak Hooda, and the list goes on.

Vadodara’s economy is highly influenced by numerous large-scale industries such as Vadodara Manufacturing Division (VDM), Indian Oil Corporation (IOCL), and Gujarat State Fertilizer & Chemicals (GSFC), among the others. Apart from these, multiple public-sector units substantiate the city’s revenue generation. With rapid developments in its corporate sector, city residents often have to deal with several financial difficulties with little to no time to act on them. Thus, to curb this situation, financial institutions have introduced credit products like a doorstep loan in Vadodara. If one wisely selects a doorstep loan, they can gain substantial benefits from it.

Benefits Of A Doorstep Loan

A doorstep loan can be both unsecured and secured depending upon which type the borrower avails. The most prominent advantages of these loans are:

  • Shorter Processing Time

Be it a personal loan or a collateral-backed loan, if it falls under the doorstep category, the entire process of application and approval shortens. Keep in mind that it is only shorter than their standard counterparts, and the approval time may vary from one doorstep loan in Vadodara to another.

  • Zero Additional Charges

Though a bank representative personally visits you for a personal loan from private finance, they do not charge any additional fee. Even if you avail this as a private finance loan from an NBFC or other financial institution, there is no additional fee for doorstep services.

  • Straightforward

The very premise of this credit product is to be hassle-free and provide the utmost convenience to borrowers. Not only does it come to your “doorstep” but the process is also mainly done by the representative, and you are present there to cooperate with the basic formalities.

  • Personalised Private Service

All the verification and documentation are done in your personal space by authorised officials. Thus, there is no chance of forgetting any document as you are in your home.

Though packed with benefits, there can be potential disadvantages if you select an unsecured doorstep loan instead of a secured one.

Secured Vs Unsecured Doorstep Loan In Vadodara

A secured version of a doorstep loan can be beneficial for the following reasons.

Parameters

Secured

Unsecured

Eligibility

Any adult who can pledge substantial collateral can obtain a secured loan.

One should have a stable monthly income, an active account, a permanent residence, and a 750+ credit score to be eligible.

Documentation

The documents of pledged collateral, income proof, and KYC documents are required. For gold loans, one only needs OVDs for KYC.

Documents like income proof, ITR return, bank statement, and address proof are required.

Rate of Interest

It is comparatively low than unsecured loans as borrowers provide collateral.

The lack of collateral increases the risk for lenders, so they charge high interest rates.

Loan Amount

The value of your collateral can fetch you a high loan amount.

The amount depends on your eligibility and FOIR.

The abovementioned table makes it clear that a secured doorstep loan in Vadodara is beneficial on several fronts than its unsecured alternative. However, secured loans can still pose complications like lengthy asset documentation and approval time. It should also be kept in mind that doorstep loans usually come at a higher rate of interest. So, even if secured doorstep loans have a lower interest rate than personal loans, it can still be considerable.

Thus, you should carefully decide which loan you will opt for while searching “doorstep loan lenders near me”. A great option to avail is a gold-backed loan as it removes the requirement for complicated documentation. Moreover, if you also want a lender that charges a reasonably low interest rate, apply for a Rupeek’s short-term loan in Vadodara.

Get a beautiful CSS code with the new free online tool hosted by HTML Cleaner.

Doorstep Loan From Rupeek In Baroda – Advantages

We provide various features with our gold loan to make it simpler and more useful for borrowers. Some of these advantages are:

  1. Convenient Overdraft Facility – If you do not need to use the loan amount at once, it’s unreasonable to incur interest on the same. Instead, you can do it in small sections by getting our extended instant credit line online. Existing customers can go for our overdraft facility called Rupeek Quick, with which you also get the opportunity only to pay interest on what you use.
  2. Vast Loan Amount Range – In our endeavour of aiding all types of financial needs, we have also kept a wide range of loan amount. You can obtain a loan from Rs. 15,000 up to Rs. 1.5 crore and finance your expenses.
  3. Simple Documentation – As the collateral is gold, you do not have to provide any document to substantiate its value. You can avail our doorstep loan in Vadodara against gold by just providing your KYC documents.
  4. High LTV Rate – We feature a loan-to-value ratio as high as 80%. If you want to know the LTV for your loan, refer to our gold loan calculator.

Besides these advantages, we have our representatives across all the significant Vadodara areas along with several partnered banks. This way, we can reach as many loan seekers as we can.

Rupeek Operations in Vadodara

You can acquire our doorstep loan in Vadodara in and around the following locations.

  • Por
  • Padra
  • Akota
  • Karelibaug
  • Makarpura
  • Waghodia Road
  • Manjalpur
  • Dabhoi
  • Khanderao Market
  • Savli
  • Alkapuri
  • Navlakhi
  • Bajwa
  • Manjusar
  • Bodeli
  • Ajwa Road

Without sufficient knowledge, it’s likely to get yourself stuck with a highly disadvantageous financing option. Understand your requirements and select something that will provide emergency financial aid and help you through the repayment process. Visit our website or download our app to know more about how you can take advantage of our gold-backed doorstep loan in Vadodara.

Rupeek ad
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% 0.79%
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 -
Rupeek ad

Frequently asked questions

  1. Do I need to provide CIBIL score for a doorstep loan in Vadodara?

Yes, if you are availing an unsecured doorstep loan, your CIBIL score is significant. You can only apply for it if your credit score is above 750. However, it is not the case for a secured option like a gold loan. Lenders do not check your score under such circumstances.

  1. Can I transfer my existing gold loan to Rupeek?

Our finance company in Vadodara is there to help every individual in need, even if they already have a repayment commitment. If you want to transfer your gold loan to us, avail our loan transfer facility by contacting our customer service.

  1. What is the lowest loan percentage charged by Rupeek?

The lowest interest we charge is 0.79% per month, helping you repay your loan without providing any hefty interest charges. The rate primarily depends on the repayment scheme you choose.

  1. Do I need a gold insurance policy to take a loan from Rupeek?

No, we provide 100% insurance on all the gold articles that you pledge against our loan. You will receive compensation for any loss or damage of your pledged items, however unlikely that is to happen.

  1. Where will Rupeek keep my pledged gold?

Our representatives take your pledged gold in a safe GPS trackable bag when you avail our gold-backed doorstep loan in Vadodara. The box is taken to one of our partnered banks, not more than 5km away from your house. Your gold is then kept in the military-grade safety vault for the entire repayment tenure under 24x7 surveillance.

  1. What is required for a partial release of my gold?

  1. The criterion for part release is that pieces of jewellery you intend to part-release should weigh at least 10gms. You can better understand the entire procedure by contacting our customer service.

  1. Can I re-pledge my gold for a doorstep loan in Rupeek?

  1. Yes, we are here to help you with re-pledging. To understand the procedure, contact our customer care directly.

Rupeek ad
gold img
Apply for Gold Loan 30 Minutes Doorstep Service
close
+91
Please enter valid Mobile Number
close
success img

Loan Request Successful

Your request has been received, our customer relationship manager has been notified and will call you shortly