The Gariahat Market region is the central shopping hub for all kinds of apparel, electronics, home decor, and anything related to fashion and lifestyle, with the inclusion of pets. The area is the go-to destination for all South Kolkata people for their purchases and includes some of the best shopping malls, namely AC Market, Dakshinapan Shopping Center, and Mukti World. Garia market has many restaurants and small shops as well, other than those within the malls. The area is well connected with roadways and is close to Jadavpur, where the famous Jadavpur University is situated. The people in Gariahat Market are also in love with chess. Every night, underneath the Gariahat flyover, illuminated by floodlights, both experienced and new chess players duel on an open space public tournament. The people in this locality shop a lot, especially during Puja, and often require instant loans in Gariahat Market to support their expenses.
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.
People often turn to instant loans in Kolkata 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.
In addition to being cheap, quick, easy, and flexible, Rupeek is also as safe as it can get! With over a million borrowers, Rupeek has continually been gaining momentum since its establishment in 2015. Rupeek is well known for its stellar customer service, speedy redressal system and unparalleled doorstep loan disbursal to name a few. Rupeek offers the utmost security of your collateral. That is, when you pledge your gold either in the form of gold bars or ornaments with Rupeek, it comes with a 100% free insurance cover. Wile your gold will be stored with a partner bank equipped with iron-clad security and constant CCTV surveillance, the personal information you share with the team through the app is transmitted through 256-bit encryption and protected by SSL technologies.
An instant loan is one of the best options to obtain immediate cash or urgent loan from. The loan amount can be procured by submitting a few necessary documents, that can be used as your identity proof, your address proof and your income proof. These documents include your PAN Card, Aadhar Card, credit score, income statement, etc. If you do not have a steady source of income and is unable to meet the requirement of your income statement or your credit score, you can always procure the desired funds using a gold loan. A gold loan is one of the easiest and most efficent ways to obtain funds at a quick notice. Apart from being one of the low interest rate loans in the market, a gold loan also makes it possible for you to avail of the maximum funds by pledging your gold. Further, you are also not required to present your salary slip or your credit score. Most lenders also provide a flexible loan repayment option with the provision of various schemes.
The EMIs or the Equated Monthly Installment that the borrower pays every month comprises of the principal loan amount as well as the interest. The EMI is calculated after consideration of the loan amount, the loan interest rate as well as the loan term. During the early months of loan repayment through EMIs, the amount paid is the interest. It is towards the end of the loan term that the principal amount is repaid. There is a tabular list called the loan amortization that shows the principal amount as well as the loan interest components. If a borrower takes gets a loan amount of INR 10 lakh whose loan term stretches over 12 months and the loan interest rate charged is 10%, the monthly EMI of the borrower would come to INR 87,920. The EMI has a direct relationship with the loan interest rate. If the loan interest rate increases and the loan term remains the same, the EMI will increase. On the other hand, EMI has an indirect relationship with the loan term. If the loan term increases and the loan interest remains the same, the EMI will decrease.
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The best feature of an instant cash loan is its speed. To avail a loan, you have to download the lender's app or visit their web portal and place the loan request. Generally, within a few minutes of lodging the application, an official representative will call you and fix an appointment. After this, an approved loan officer would visit your house or office and verify the documents. However, in case of a collateral-free loan, lenders often carry out the verification online. In case of a collateral-based loan, the officer would reach the place of your convenience within 30 minutes of placing the loan request. After physical verification of documents, the officer would approve your loan and ensure seamless transfer of the loan amount to your account. Ideally, the entire process from loan application to loan disbursal takes no more than 60 minutes.
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