sub_locality
Kanpur
Civil Lines
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

Instant loan in Civil Lines

Civil lines is a popular locality in Kanpur in Uttar Pradesh. It is a populous area with the Kanpur distric court situated in this area. This region is a residential area with a large number of homes. It provides several amenities to the residents such as shopping complexes, banks, ATMs, schools as well as hospitals. Phool bagh which is a nearby area is popular shopping area for the residents of Kanpur. Heer Palace, the cinema hall also holds emotional value for the localites. The residents of this region enjoy good socio economic status. Instant loan in Civil Lines is quite popular amongst them.

Difference between instant loans and personal loans

Although both personal and instant loans provide the lender with emergency funds, certain features make them different from each other. These pertain to their nature, their requirements, and their loan amounts. 

Nature: While a personal loan is always unsecured, an instant cash loan can be either secured or unsecured.

Collateral requirement: Personal loans are always collateral-free while instant loans can be collateral-free as well as collateral-based.

Required documents: Personal loans require more paperwork to prove the financial health of the borrower. In the case of secured instant loans, the paperwork is minimal, consisting only of the borrower’s identity and address proof. However, when obtaining an unsecured instant loan, the borrower is required to submit documents to prove their financial health, such as their credit score and income statement.

Upper limit: Up to INR 20 lakh can be procured using a personal loan. When it comes to a secured instant loan, there is no upper limit in the loan amount that can be availed. The lender can receive up to 75% of the market value of the pledged collateral as the loan amount. On the other hand, not more than INR 5 lakh can be obtained as the loan using an unsecured instant loan.

Reasons to take an instant loan

The flexibility in the end-use of an instant loan makes it one of the most popular loans in India. Denizens often avail instant loans in Kanpur for various reasons. The first reason why people avail an instant loan is to address sudden financial emergencies. Sometimes, in case of hospitalisation, the bill amount may exceed the available cash. An instant loan provides urgent money, which one can use on anything related to health. Another reason why people apply for an instant loan is to set up a business. In some cases, using the instant loan amount for business may also enable you to apply for tax rebates. Many borrowers also avail an instant loan to sponsor a vacation or a tour. The fourth reason why people apply for an instant cash loan is to spend it on sponsoring a big event like a marriage.

Rupeek ad

Instant Gold Loan Calculator

max LTV

We offer the highest per gram rate on our gold loans.

Today’s max loan value/gm () **

Today’s max loan value/gm ()
**

Frequently asked questions

What are the interest rates offered by Rupeek for an online gold loan?

When you take a gold loan from Rupeek, you can be assured that you are getting a higher loan amount for your gold at a low rate of interest. When you pledge your gold with Rupeek, you can get the highest LTV (Loan to Value) and get up to 75% of the market value of the pledged gold as your loan amount. Rupeek also offers the lowest loan interest rates in the market.

Rupeek offers four types of interest rates, depending on your loan amount and your location. When the loan amount that you are trying to procure is less, the interest goes up.

Rupeek offers you three different schemes under each loan amount: No Tension Max Value Loan (highest loan interest rate), Max Value Loan, and High Value Loan (lowest loan interest rate).

  1. When the loan amount is higher than INR 20 lakh, the interest rate falls between 0.89% and 1.39%.
  2. When the loan amount is between INR 5 lakh and INR 20 lakh, the interest rate can be as low as 0.89% and as high as 1.39%.
  3. When the loan amount is between INR 2 lakh and 5 lakh, the interest rate can range between 0.99% and 1.59%.
  4. When the loan amount is less than INR 2 lakh, the interest rate is at 1.29% at the lowest and 1.69% at the highest.




What is the minimal age requirement for an instant loan?

You can avail an instant loan and live life on your own terms! All you'll need is the app on your smartphone, the necessary documentation needless to say the right kind of eligibility. These eligibility criteria are usually subject to change from one lender to another. Typically, to avail a collateral-free instant loan, one needs to be minimum 21 years old. But in the case of a collateral-based loan that involves a security pledge, the minimum age requirement to meet the eligibility criteria is 18. In support of your age proof, you can either submit your birth certificate or the admit card from your secondary school examinations. It is noteworthy that meeting the minimum age requirement is only one of the eligibility criteria. To ensure that your loan application gets approved in the first attempt itself, you will have to ensure that you meet all the eligibility criteria involved.

How to deal with a loan default?

None of us want to skip our EMI payments. But there might be situations when we may have to skip the EMIs because of unprecedented difficulties. The failure of payment of an EMI can result in dire consequences. The lender will impose a heavy penalty on the future payments on you. The lender is also likely to resort to harsh modes for future repayments. There is no need to worry about it, as before you and your lender enter into a loan agreement regarding the EMIs and the loan interest rate, several measures are taken to prevent such an occurrence in the future. This is the reason why the lenders check if you have a stable income, assess your credit score, and calculate your debt to equity ratio. Since all these measures are taken beforehand, as a borrower, you are requested to keep your EMIs a priority. In case an unprecedented problem arises in loan repayment, you should contact your lender at the earliest and request to change your monthly payment to bullet payment.

Will an instant loan help pay off credit card debt?

When faced with some financial turbulence, it is common to find people opt for a credit card without realising the implications of failure of repayment of the debt. Although you can use an instant cash loan to pay off a credit card related debt, it is also advisable that rather than relying on a credit card for emergency funds, you can obtain urgent loans through an instant cash loan online since it is a better option. An instant loan is a better source for urgent loan for a variety of reasons. The loan interest rate on an instant cash loan is lower than that of credit cards.Credit card debt can also cause severe damage to your credit score, bringing down your eligibility for loans in the future.

Rupeek ad

Apply now for 30 minutes doorstep service#

+91
Please enter valid Mobile Number
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