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Instant loan in Ghorpadi

Ghorpadi is a central residential area in Pune City. It is turning out to be a preferable area for residential properties as well as various industries. There are many top-rated educational institutes located nearby such as Clara Global School, Spectrum Kids School, Ness Wadia College of Commerce, and St Marys Junior College. Magarpatta, Amanora Park Town, and SP Infocity are located just within 4 km from Ghorpadi. The locality has seen significant growth within a span of few years. The cost of living is also on the higher end. In case of instant money requirement, many people apply for a instant loan in Ghorpadi to get out of financial distress.

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 related to instant loan guarantees that it can be put to any use. People in Pune 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.

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Frequently asked questions

Can I take an instant loan for home renovation?

There is always something that requires fixing when it comes to homes! Whether it is exterminating the house, buying an AC, installing insect nets, retiling the floor or installing a modular kitchen, you can meet all your expenses by simply availing an instant loan online. instant loans can be used to meet both emergencies as well as planned expenses and how! instant loan approvals ideally happen within an hour and can be availed right from the comforts of your home. As far as documentation is concerned, you only need the basic ones such as your Aadhar Card and PAN Card. Once these documents have been verified, the loan amount will instantly be credited to your account. However, it is important to note that factors such as the loan interest rate, the loan amount and the loan term are all contingent on your credit profile. Timely repayment of these loans boosts your creditworthiness when it comes to subsequent loan applications.

Which is the best loan to take for a marriage ceremony?

Marriage is undoubtedly one of the most auspicious occasions of any person’s life. When your dreams and plans are that grand, money is also likely to come in the way. An easy way to tackle this problem seamlessly is by opting for an instant cash loan. Many online platforms offer an instant cash loan online. Like it is obvious in the name, an instant cash loan is the answer for quick funds. With instant cash loans online, you do not have to sacrifice your dreams for a secure future. Instant cash loans can be easily availed against the submission of a few required documents as proof of your identity, address and your income. You can also get collateral-based instant loans against the pledging of collateral.

How to increase the chances of instant loan approval?

Whether or not your instant loan gets approved depends on several factors such as your nationality as per your identity proof, existing credit profile, debt-Income ratio, repayment capacity, to name a few. Though instant loans are designed to be flexible, speedy and hassle-free lenders are still vigilant when it comes to loan approval. There are a few measures you can follow to ensure that your instant loan gets approved. Ensure you have a respectable credit score (700 is considered the standard credit score). If not, this can be improved by ensuring timely repayment of prior credit. Alternately, if you apply as a co-applicant with someone with a steady source of income, this can strengthen your position as a borrower. the best and foolproof way of ensuring that your loan gets approved is to opt for a secured loan and pledge collateral that is at least 30% higher in value than the loan amount you are looking to avail. Once the basic eligibility criteria has been met, it is only a matter of minutes before your loan amount is disbursed.

Do I need a high credit score to apply for a gold loan with Rupeek?

Whether or not you need to have a high credit score depends on the type of loan you are applying for (collateral-based or collateral-free instant cash loan) and on your lender. You are required to have a credit score only as long as you are opting for a collateral-free instant loan. If you are opting for a collateral-based instant cash loan, you are not required to have a credit score. A credit score is requested by the lenders as it is a mark of your financial health. Your credit score and your financial health are directly proportional to each other. On the other hand, if you are placing an application for a gold loan with Rupeek, your credit score is not required. This is because of the security of the collateral that you have pledged with the lender. This also enables the lender (as per the RBI regulations) to disburse amounts equal to 75% of the market value of the pledged gold to the borrower. Besides, you can also get lower loan interest rates with Rupeek.

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