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Instant loan in lakkavaram

Lakkavaram is a developed village in the East Godavari district in the state of Andhra Pradesh. It is a part of the Malikipuram mandal. Lakkavaram stands separated from Malikipuram, the sub-district headquarter, by about 5 km. Kakinada, the district headquarter, lies at a distance of about 90 km from the village. Lakkavaram covers an area of 507 hectares. The nearest town is Narasapur, which stands about 25 km away from the village. The social infrastructure of Lakkavaram includes a weekly market, trust hospital, government hospital, primary health centre, places of worship, bank, and post office. The village also boasts of a VG Cinemax Projector that serves as a great entertainment option for the villagers. To overcome their financial hardships, many villagers avail instant loan in Lakkavaram.

Reasons to take an instant loan

People often turn to instant loans in East godavari 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.

Features of an instant loan

Instant loans are one of the most popular forms of credit in India. Instant cash loans come equipped with several perks and features that make it the most preferred form of credit or most borrowers. There are several reasons why Instant loans have been a roaring hit. The first and foremost reason would have to be its flexibility. It can be availed within a matter of hours, with or without collateral, with or without a healthy credit score, and can be spent as per the discretion of the borrower. Secondly, the speed at which these loans are approved. It is usually only a matter of an hour before these loans are approved. The third reason would have to be the loan application process which can be done both online as well as offline and is an extremely hassle-free process. Last but not the least, the reason instant loans are most borrowers' go-to choice of credit is because of the minimal documentation that is required. Depending on the type of instant loan the borrower is looking to avail, the documents required will vary but are minimal nevertheless.

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Frequently asked questions

Can I get an instant loan if I'm retired?

As a retired person, you might need funds for sponsoring an event, paying medical bills, renovating your house, buying something special, or for any other purpose. An instant cash loan is a one-stop financial instrument for fulfilling all your funds-related needs. Just because they are no longer employed, the option of an instant loan is not closed to a retired person. As long as they have a steady source of income, like pension, or collateral, like gold, they can still get urgent loans. Applying for an instant loan is extremely easy and straightforward. All you should do is call the lender's customer care number and express your desire to apply for a loan. Alternatively, you may download the lender's app and place the request all by yourself. Before the loan approval, the lender might seek a few simple documents for identity, and address proof, and income statement. If the entire process goes as is expected, you may receive the funds in your account within an hour from the time of loan application.

How to deal with a loan default?

Despite your best intentions to repay the EMIs on time, there might be situations when you have to skip the EMIs. When you stop paying the loan EMIs, the lender considers you as a defaulter and imposes a hefty penalty on further payments. In the worst case, they may take legal recourse. To avoid all these hassles, you should create a budget and keep loan EMIs on the high-priority list. On getting the slightest hint of a default, you should immediately contact the lender and request them to change your EMI payment plan. Many lenders offer you the facility to shift from a monthly payment mode to a bullet repayment mode, where you pay the principal and interest at the end of the loan tenure.

How secure is my gold with Rupeek?

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.

How to apply for an online gold loan with Rupeek?

The loan application process at Rupeek is short and sweet! All you'll need to do is download the Rupeek from the PlayStore, create an account with a unique username and password and place a loan request. If you wish to directly get in touch with a Rupeek loan executive you may do so by placing a call on the customer care number. If you are applying for an unsecured instant loan, the necessary documents can be uploaded online. Whereas, if you are applying for a secured loan, a Rupeek representative will visit you at a location and time as stipulated by you. This visit is primarily for the verification of certain essential documents such as Aadhaar Card, PAN Card, and collateral valuation. Post successful verification, the amount is disbursed. Ideally, whether you apply for a secured or unsecured loan the approval will only take about an hour.

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