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Noida
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Instant loan in sec 16 noida

Noida Sector 16 is situated adjacent to the Captain Vijyant Thapar Marg. It is a part of the Rajinder Nagar assembly constituency and New Delhi parliamentary constituency. Okhla and Hazrat Nizamuddin are the two major railway station nearby Sector 16. There is also a Metro station in Sector 16. There are several schools, colleges, shopping malls, and office complexes in and around the locality, making it an excellent place for real estate. Gurukul Institute of Management & Technology and Bridge School Of Management are the most prominent educational institutions in the area. The most prominent landmarks are Madrasa Qadira Raza - E- Mustafa, HCL Technologies Limited, Khandav Prasth Park, and Uttar Pradesh Power Corporation Ltd. Residents in the locality often rely on instant loans in Sector 16 Noida when they require cash instantly.

Eligibility to apply for an instant loan and documents required

Instant loans are typically of two types- Unsecured loans that don't require collateral security and secured loans that require the borrower to pledge collateral security against the loan. Borrowers that get a instant loan get access to various benefits as compared to those that borrow unsecured loans. For instance, borrowers that avail secured loans get to borrow a higher loan amount. Since borrowers are required to pledge an asset whose market value needs to be about 30% more than the loan amount, the eligibility criteria are also relaxed. To avail a secured loan, you'll only need basic documents such as PAN Card and Aadhaar Card. However, this isn't the case with unsecured loans. When you apply for an unsecured loan, your loan approval depends on several factors such as your debt-income ratio, existing credit profile, and income status. Additionally, to be eligible for an unsecured loan, as a borrower, you will need to have a minimum income of INR 21,000 per month. Along with this proof of income, you will also have to submit other documents such as PAN Card, Aadhaar Card, Age proof, Income tax file, Account transaction statement, and sometimes even a guarantor. If you are looking to avail a quick, hassle-free loan, secured loans are the way to go.

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 Noida 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.

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Frequently asked questions

What is an instant cash loan?

An online collateral-free loan that can be processed within a couple of hours is an instant cash loan. From the application to the disbursal of the loan amount, since most of the formalities take place online, the customers can complete the entire transaction online. As there is no security to the loan amount in the form of collateral, the borrower will not be able to avail a high-value loan and will have to pay a higher rate of interest. You can avail the benefits of a high-value and a low interest loan based on a collateral, by placing a loan request at the lender's website. After applying for the instant collateral-based cash-loan online, a representative of the company will be sent to check the authenticity of your documents, your collateral and verify them. The amount will get disbursed immediately. Upto 65% can be saved on EMIs by availing a collateral-based loan rather than the conventional collateral-free loan.

How long is the tenure to repay an instant loan?

The reason instant cash loans are considered so flexible is since it is highly customizable depending on the borrower's profile. The tenure of an instant loan is subject to change contingent on the borrower's existing credit profile, repayment capacity, and credit score. Usually, the maximum tenure you can avail a loan for is 5 years while the minimum is a month. Loan tenure also dictates the EMI. That is, a shorter tenure implies a higher EMI and vice versa. It is noteworthy that the longer your loan tenure, the more you will end up paying on interest whereas if your loan tenure is short, the loan interest rate will be much lesser. If you are to indeed opt for a short-term loan, you will receive a lot of incentives such as a specially determined interest rate or a lesser loan interest rebate. Availing a short-term loan also presents you with a better scope to repay your loan (interest + principal) earlier, hence enhancing your credit score.

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

When you want to apply for a loan in India, many lenders insist you have a credit score of 700 and beyond. A high credit score shows the creditworthiness of the borrower. A borrower with a high credit score can negotiate the rates in their favour. However, Rupeek's gold loan is unique in that sense since it does not require you to have a high credit score or high income. Your gold will be the collateral for your instant loan. As per the regulations of the RBI, you can avail up to 75% of the gold's value as a the loan amount. Since you will be pledging your gold to get the loan, this security is what prompts Rupeek to offer gold loans to its borrowers without a high credit score or salary slips.

Can I take an instant loan for education?

With the cost of quality education steadily increasing, there are chances that the money you have set aside for paying the education bills might fall short. An instant cash loan for education can be the easiest way to ensure an uninterrupted flow of fast funds required to pay the bills on time. Applying for an instant cash loan online is relatively easy. You can apply for an instant loan if you have PAN Card, Aadhaar Card, income statement, and a few other documents. The most significant benefit of an instant loan is that you can spend the loan amount on anything related to education, which may include capitation fees, tuition fees, admission fees, or other purposes. The EMIs start from a month after loan approval.

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