Sarsaul is a town in Kanpur district in the state of Uttar Pradesh. It is a development block in Kanpur nagar tehsil and comes under Kanpur metropolitan area. Sarsaul is well connected by road. National Highway 19 (India) passes through Sarsaul connecting it to Kanpur city and Allahabad. Sarsaul has a railway station on New Delhi-Howrah railroad and the nearest airport is Kanpur Airport. The kanpur central jail is to be constructed near sarsaul adding to the administrative value of this region. Financially, this region fairs well. Instant loan in Sarsaul in Kanpur is quite popular and easily and readily available.
There are two types of instant loans -
A collateral-based instant loan
This type of loan is secured against a collateral property of the borrower. There are many benefits to a secured loan, such as minimal paperwork, lower interest rates, and high-value loans. Usually, the borrower is only required to present their identity and address proofs.
A collateral-free loan
This type of loan is unsecured. The borrower doesn’t have to pledge his property with the lender for obtaining the funds. However, the borrower will be expected to have a high credit score and a stable source of income, usually above INR 21,000 per month. The lenders like to make sure that the debt to income ratio is appropriate for the loan so that the borrower can make the repayments on time. The borrower will also have to submit documents that prove their financial health, such as a salary slip or an income statement, their credit score, and sometimes even a guarantor.
For these reasons, a collateral-based loan is more popular among the lenders.
People often turn to instant loans in Kanpur 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.
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.
If you are worried about the safety of your collateral as well as of the personal details you have shared with the lender, all you have to do is check if the lender has been approved by the Reserve Bank of India. Rupeek is an approved lending institution that has been in the market since 2015, providing excellent services to its customers. Rupeek is one of the best instant gold loan lending institutions in India, gaining popularity, thanks to its quick, hassle-free services as well as for its doorstep loan services. Rupeek offers your collateral the maximum protection. As soon as you hand over your gold assets to Rupeek, it makes sure that your assets get a 100% free insurance cover. It also makes sure that the deposited gold is safe in the vaults of a partner bank where it is heavily guarded with round the clock security and real-time monitoring. The personal details that you share with Rupeek are also given equal protection. The details you enter are secured with 256-bit encryption and SSL technologies.
To avail an instant loan online, you must have a smartphone or a computer with an internet connection. All you should do is to visit the lender's website or download the app from PlayStore and place a loan request. Alternatively, you may call the lender's customer care number. The loan application to loan disbursal process takes around 60 minutes. As soon as you request for a loan, a relationship manager would call you and seek appointment. After this, a company-approved loan officer would visit your place of residence or office and verify documents like Aadhar card, PAN Card, and other things. The Appraiser would also check your financial records to ascertain your repayment capability. Depending on your financial status, the officer would inform the loan amount you are eligible to receive. If you agree to the amount and the interest rate, the officer will process the loan. Generally, the amount gets transferred to your account within five minutes of loan approval.
Instant cash loans fund the borrower more abundantly as compared to overdrafts. On the other hand, overdrafts are more flexible as far as repayment is concerned. Usually, all overdrafts come with an upper cap. On the contrary, in the case of instant cash loans. the loan amount is determined based on several factors such as the borrower's credit profile, income status, the magnitude of liabilities, and repayment history. In the case of secured loans, the lender is most likely to approve about 75% of the collateral value. Loan Interest rates also vary vastly. Overdrafts have a higher interest rate as compared to an instant loan due to the absence of collateral. Make sure to assess your need and repayment capacity before availing a loan. If you bite off more than you can chew, it is bound to reflect poorly on your credit profile.