Nesari is a village located under Gadhinglaj Taluka of Kolhapur district in Maharashtra. It stands about 20 km from Gadhinglaj city and around 83 km from the city of Kolhapur. Nesari gram panchayat is the local governing body responsible for the civic administration of the village. Nesari earns its revenue through the production of red chili and sugar. The inhabitants of the village often avail instant loan in Nesari to meet their immediate fund requirements. The village remains connected to the nearby towns and villages through several state highways. There are many educational institutions located in Nesari and they impart education to students from the nearby areas as well.
The flexibility related to instant loan guarantees that it can be put to any use. People in Kolhapur 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.
While both instant loans and personal loans help serve the same purpose there are a few factors that set them apart. For starters, all personal loans are unsecured loans by nature which implies that it does not require any collateral to be pledged to avail a loan amount. Owing to this when you get a personal loan, you are required to submit relatively more documentation to confirm the borrower's financial health. An important factor when it comes to personal loans is a healthy credit score which is an important determinant as far as personal loan eligibility is concerned. Additionally, when it comes to personal loans, the maximum one can avail is INR 20 Lakhs. However, when it comes to instant loans, it can be classified as either secured or unsecured loans. In the case of a secured instant loan, the documentation required is extremely minimal as borrowers are anyway required to pledge an asset whose market value needs to be about 30% more than the loan amount. The upper cap when it comes to a secured instant loan is contingent on the collateral pledged. For example: If you pledge an asset worth 1 Lakh, you can avail a loan of 75 Lakhs maximum.
Due to an increasing number of arrears as far as loan repayment is concerned, lenders prefer to be vigilant while loan applications of those individuals that do not have a continued source of stable income. In such a scenario, salary slips are used to confirm the borrower's source of revenue on account of repayment of the instant loan. However, submitting salary slips is not mandatory. A variety of alternate proof of earnings can be submitted including Form 16, Income Tax Returns, Bank Account Statement, and Income Certificate. In case of an exceptionally high credit score, the borrower is given an exemption and lent an instant loan simply based on the Aadhar card. Alternately, the borrower can apply as a co-applicant along with another borrower with a stable source of income, or pledging collateral such as gold.
If applying for a loan is easy, repaying the EMIs is easier, especially when you are availing a collateral-based instant loan, like a gold loan. Contrary to a collateral-free personal loan or credit card, lenders charge less interest rate on a collateral-based loan. You can make three types of payments during the loan tenure - interest, closure, and part. The interest payment is what you pay every month as EMI. Closure amount is what you pay to release your collateral and Part-payment is when you pay slightly more than what you are supposed to pay every month. To pay the EMIs, you have to either download the lender's app from PlayStore or visit their web portal. Generally, you may pay by using Internet Banking, Debit Cards, UPI, NEFT, RTGS, or IMPS. On choosing the monthly EMI payment mode, the lender would send you timely reminders about EMI payment.
Rupeek loan interest rates are extremely low, variegated, and practical. By applying for a gold loan at Rupeek, you could stand to gain more than INR 12,000 on the interest component for every lakh you borrow. What's more, your gold gets a full and free insurance cover as long as it is in Rupeek's possession. Rupeek offers various types of interest rates and amounts as per your preference. Here are the interest rates which are subject to change depending on the loan amount-
1) Above 20 Lakhs- Interest rate can range from 0.89% to 1.39%
2) Between 5-20 Lakhs- Interest rate can range between 0.89% and 1.39%
3) Between 2-5 Lakhs- Interest rate can range between 0.99% to 1.59%
4) Less than 2 Lakhs- Interest rate can range between 1.29% and 1.69%
The variation in interest is because Rupeek offers 3 types of loan schemes-
1) High-Value loan (Lowest interest rate)
2) Max Value Loan
3) No Tension Max Value Loan (Highest interest rate)
While the PAN Card is considered as a very important document, several lenders do approve instant loans sans the PAN card. A foolproof way of applying for an instant loan without a PAN card and getting it approved is to apply for a secured loan. Secured loans are those loans that are availed by pledging an asset or collateral against the loan. In such a case you are likely to receive up t 75% of the collateral's market value as your loan amount. If you wish to apply for an unsecured loan without a PAN card, you may still do so. However, you will have a higher chance of getting your loan application approved if you have a healthy credit score- 700 being the ideal standard. The lender may also ask for other document proofs in place of your PAN card such as a copy of your income statement to prove the creditworthiness of the borrower.
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