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Meerut
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Instant loan in Meerut

Meerut is one of the fastest developing cities of NCR. It is also an ancient city with settlements tracing as far back as the Indus valley Civilisation. Located about 87 km northeast of Delhi, Meerut houses one of the largest army cantonments in central India. Traditional and modern industries co-exist in the city, including textile, tyres, transformer, paper, sugar, IT and ITES. Since Meerut is the biggest producer of sports goods, it is often called the Sports City of India. The city is also an education hub and the biggest producer of musical instruments in the country. To fund their short term needs, people often depend on instant loan in Meerut. Augharnath Temple, Shahpeer Sahab ki Dargah, Draupadi ki rasoi, Saint John's Church, Mansa Devi Temple, and Suraj Kund are among the major attractions of the city. The Nauchandi Mela of Meerut is an annual fair that is quite popular among the people.

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 Meerut 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.

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 you get tax benefits on an instant loan?

Owing to how quickly an instant loan can be availed, these funds are usually used to meet urgent fund requirements. However, if you wish to use these funds for planned expenses you may certainly do so and how! If you opt to invest your instant cash loan in the construction of a house or to buy a new property, you are likely to receive tax benefits of op to INR 2 lakhs. Alternately, if the money is only to flip or renovate your house, you will be able to claim tax benefits up to INR 1.5 Lakhs. Last but not the least, if you are availing a loan to set up or expand your business you will be eligible for tax benefits. However, this can only be claimed on the interest component and not on the principal amount.

What are the other types of short-terms loans I can take?

Loans whose loan term spans only up to one to two years is called a short term loan. Because of its features such as instant loan approval and collateral-free nature, these types of loans have been the most demanded in the market. The bridge loan is one type of short-term loan which the borrower can avail of while waiting for a high-value loan to be approved. There is another called a loan overdraft, which allows the lender to obtain another loan even when they have an already existing one. The third type, a demand loan is where you can obtain urgent loans against your savings certificates and insurance policies. There is also the collateral-based gold loan, where you can pledge your gold and obtain quick funds. You can get up to 75% of the market value of the gold as the loan amount. A gold loan is a collateral-based loan, but there are several benefits that are exclusive to it which makes it very popular with the Indian borrowers.

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 long does the gold loan application process take with Rupeek?

Placing a loan application with Rupeek is a smooth and hassle-free process. Rupeek’s procedure is very safe and transparent. When you apply for an instant loan with Rupeek, first, you have to download the app from Playstore or visit the web portal. You can also apply for a loan by calling their customer care desk. Once the loan has been requested, a company official will immediately get in touch with you to fix an appointment. Within thirty minutes from the loan request, the official will turn up at your doorstep to check the authenticity of your asset as well as to appraise your documents, such as your identity proof and address proof. Once they are validated by the company representative, your loan will be immediately approved. As soon as the loan approval is done, the loan amount will get transferred into your account. The whole process, from the placing of the loan request to the transfer of the loan amount, doesn’t take more than sixty minutes.

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