Faridabad is a major industrial city in the National Capital Region. The New Industrial Township was created to exclusively cater to various industries and provide residential amenities to the employees. The New Industrial Township is a vast area which is divided into five parts. The locality runs parallel to the Asian Highway 1, which connects it to Delhi, Chennai, and Srinagar. The nearest Metro stations are Bata Chowk, Escorts Mujesar, Lakhani Armaan, and Manav Rachna. The prominent hospitals in the township are C K Memorial Kapoor Hospital, Chugh Hospital, Medicheck Hospital, QRG Central Hospital & Research Centre, District Civil Hospital, and Apurva Hospital. The presence of many government and private offices in the locality prompt people to apply for an instant loan in Faridabad New Industrial Township and buy or construct a house.
People often turn to instant loans in Faridabad for several purposes.They can be classified into:
1) Unplanned expenses: Owing to how quickly it can be availed, instant cash loans are a convenient form of credit that comes very handy in case of financial emergencies. In scenarios such as hospitalization, sometimes the bill amount might exceed the insurance cover. Instant loans can be availed within an hour and are very helpful when one has to meet unplanned expenses.
2) Planned expenses: If you are looking to start or expand your business, you can avail an instant loan to help meet your fund requirements. The funds stemming from an instant loan can be spent as per the borrower's discretion. If you choose to spend the loan mount on business, construction, or renovation of your house you are even eligible for tax rebates. Be it a leisure trip or a wedding, instant loans can be availed for any reason.
Instant loans are typically of two types- Unsecured loans that don't require collateral security and secured loans that require the borrower to pledge collateral security against the loan. Borrowers that get a instant loan get access to various benefits as compared to those that borrow unsecured loans. For instance, borrowers that avail secured loans get to borrow a higher loan amount. Since borrowers are required to pledge an asset whose market value needs to be about 30% more than the loan amount, the eligibility criteria are also relaxed. To avail a secured loan, you'll only need basic documents such as PAN Card and Aadhaar Card. However, this isn't the case with unsecured loans. When you apply for an unsecured loan, your loan approval depends on several factors such as your debt-income ratio, existing credit profile, and income status. Additionally, to be eligible for an unsecured loan, as a borrower, you will need to have a minimum income of INR 21,000 per month. Along with this proof of income, you will also have to submit other documents such as PAN Card, Aadhaar Card, Age proof, Income tax file, Account transaction statement, and sometimes even a guarantor. If you are looking to avail a quick, hassle-free loan, secured loans are the way to go.
Although personal loan and instant loan serve the same purpose - to provide you with funds urgently, there are a few fundamental differences between the two loans. A personal loan is a collateral-free loan, and hence, is unsecured. An instant loan, on the other hand, can be secured or unsecured. When you apply for an unsecured, i.e. without-collateral loan, the lender charges a higher interest rate. However, when you apply for a collateral-based loan, like a gold loan or a loan against property, the lender gives a hefty discount in the interest rates and might also offer a longer tenure. Another difference between an instant loan and a personal loan is that a personal loan may or may not get approved instantly, but an instant loan generally does not take more than an hour to get approved. Hence, if you need urgent loans, an instant loan online can be the best bet.
As a homemaker, you have to keep a lot many things in your mind, which often includes paying urgent bills. An instant cash loan for a homemaker can ensure an uninterrupted flow of funds which you may use on anything related to your and your family's well-being. An instant loan usually takes no more than 60 minutes to be approved. Hence, you can stay assured about the availability of funds whenever the need arises. To avail an instant loan as a homemaker, you need to submit collateral security to the lender. Depending on the nature, status, and quality of your collateral security, you may get up to 75% of the asset's current market value as a loan. The documents you need to submit include PAN Card, Aadhaar Card, age proof, proof of income, and photographs.
A low credit score can create a stumbling block between you and your aspirations. While approving instant cash loans in India, lenders almost always factor in the credit score before determining the loan interest rate and loan amount. If your credit score is below 700, lenders would be wary of giving loan approvals. Even when they approve, the chances are high that the interest rates and loan terms will not be in your favour. An instant cash loan online is one of the safest and easiest ways to increase your credit score. If you choose a loan amount whose EMI you can pay easily, your credit score will increase every time you pay the EMIs. Hence, if your credit score is extremely low, consider applying for small amounts and repaying them in time. Doing so will not only increase the credit score but also enable you to increase your credit limit.
Placing a gold loan application with Rupeek is a very simple process. The procedure is very smooth and hassle-free. The borrower is required to submit a few documents to the lender before the loan approval. The borrower has to download the Rupeek app, or visit the lender’s portal to apply for an instant loan. The borrower can also apply for a loan by ringing up the customer service. Within thirty minutes of the loan application, an official from the company will arrive at your doorstep to check the authenticity of your gold as well as to appraise your documents. The documents the borrower is required to have are the identity proof and the address proof. These documents, also called the KYC documents, can include your PAN Card, Aadhaar Card, Driving License, Passport, Voter’s Id, etc. The other documents, such as a salary slip, or your income statement and your credit score, that would be required in the case of an unsecured instant loan are not required when you apply for a secured instant loan.
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