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Kolkata
ballygunge
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Instant loan in ballygunge

Ballygunge is an upmarket residential and commercial locality in South Kolkata. Surrounding Ballygunge is other major localities like Kasba, Park Circus, Dhakuria, Bhowanipur, and Lansdowne. The biggest market in the area is the Gariahat Market, which is located at the intersection of Old Ballygunge Road and Rash Behari Avenue. Several shops sell jewellery, garments, furniture, decorative goods, cutlery, electronic goods, etc. There are also many eateries where Kolkata's famous street foods are sold. Some of South Kolkata's most prominent educational institutions, such as Kendriya Vidyalaya, Ballygunge Government High School, Patha Bhavan, Army Public School, Basanti Devi College, Modern High School for Girls, and South Point School, are situated here. An instant loan in Ballygunge is the most popular loan option in the locality.

Reasons to take an instant loan

The flexibility related to instant loan guarantees that it can be put to any use. People in Kolkata procure instant loans for a variety of reasons - whether the expenses are planned or unplanned. The funds procured through an instant loan can be used to pay off unprecedented medical bills. It can also be used to finance a tour or a vacation, or to meet other unexpected emergencies. Whether it is for a house renovation that you need funds for, or it is to start a small business or just about anything, instant cash loans do not stand in your way. You can also use them to pay off your credit card debts, to sponsor an event, or to conduct a grand marriage function. The flexibility offered by an instant cash loan makes sure that you can use your funds for whatever need, as long as it is not for speculative or illegal activities. In some cases, it is also possible to apply for tax rebates when you use an instant loan.

Eligibility to apply for an instant loan and documents required

There are two types of instant loans

A collateral-based instant loan 

This type of loan is secured against a collateral property of the borrower. There are many benefits to a secured loan, such as minimal paperwork, lower interest rates, and high-value loans. Usually, the borrower is only required to present their identity and address proofs. 

A collateral-free loan

This type of loan is unsecured. The borrower doesn’t have to pledge his property with the lender for obtaining the funds. However, the borrower will be expected to have a high credit score and a stable source of income, usually above INR 21,000 per month. The lenders like to make sure that the debt to income ratio is appropriate for the loan so that the borrower can make the repayments on time. The borrower will also have to submit documents that prove their financial health, such as a salary slip or an income statement, their credit score, and sometimes even a guarantor.

For these reasons, a collateral-based loan is more popular among the lenders. 

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Frequently asked questions

Can I get an instant loan without a PAN card?

An instant loan is a flexible financial instrument that you may use to spend on anything you like. Unlike many other loans, the documents required to apply for an instant loan are much more straightforward. Generally, when you apply for an instant cash loan, the lender wants you to submit essential documents like identity proof, address proof, age proof, income statement, and other necessary documents. PAN Card works as an identity proof and is considered an essential document. However, you can still apply for an instant loan without a PAN Card. You have to fill, sign, and submit Form 60, along with Aadhaar Card, and all other documents to apply for the instant loan.

How long will the application process take?

One of the best features of the instant cash loan is the speed of the transaction. You can place a request to get a loan either by downloading the app or by visiting the web portal of the lender. After placing a request, within a few minutes, a representative will get in touch with you to fix an appointment. In case of a collateral-free loan, the entire process can be carried online. However, if it is a collateral-based loan that you have opted, an offcial representative will visit you wihtin 30 minutes from setting the appointment to check the authenticity of your collateral and verify the documents. After the approval of the loan, the loan amount would get transferred to your account. The entire process is very simple and convenient. It wouldn't take more than 60 minutes to carry out the entire process from the loan application to the disbursal of the funds.

What is the process of instant loan application online?

An instant loan is one of the most popular sources of funds available today. This is due to the flexibility associated with the loan as well as the quickness of the transaction. You can easily get an instant cash loan. First, you have to place an application for an instant loan either on the web portal of the lender or by downloading their app. You will then be required to submit a few documents such as your identity proof, address proof, and your income statement. In the case of a collateral-based loan, the lender will show up at your doorstep to check the authenticity of your collateral security as well as your documents. As soon as your documents and your collateral are approved, the lender will give the loan approval and the amount will be transferred to your account. The whole process can be completed in a matter of one hour if the documents and the collateral are in order.

How long does the gold loan application process take with Rupeek?

Placing a loan application with Rupeek is a smooth and hassle-free process. Rupeek’s procedure is very safe and transparent. When you apply for an instant loan with Rupeek, first, you have to download the app from Playstore or visit the web portal. You can also apply for a loan by calling their customer care desk. Once the loan has been requested, a company official will immediately get in touch with you to fix an appointment. Within thirty minutes from the loan request, the official will turn up at your doorstep to check the authenticity of your asset as well as to appraise your documents, such as your identity proof and address proof. Once they are validated by the company representative, your loan will be immediately approved. As soon as the loan approval is done, the loan amount will get transferred into your account. The whole process, from the placing of the loan request to the transfer of the loan amount, doesn’t take more than sixty minutes.

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