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Gurgaon
Sec 82
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Instant loan in Sec 82

Sector 82 is a popular residential society in Gurgaon, that is located close to the national highway (NH) 48 and Dwaraka Expressway, thereby enjoying good connectivity to Delhi and the rest of Gurgaon. Sector 82 is well connected to the Gurgaon railway station and is less than 30km away from the international airport T3 in Delhi. Due to its location, large and famous real estate projects are visible in this sector. One such example is Vatika India, one of the most popular real estate projects in Gurgaon. Some of the examples of Vatika projects are Vatika Primrose floors, Vatika Emilia Floors and Vatika The Seven Lamps. Instant loan in Sector 82 is easily available.

Eligibility to apply for an instant loan and documents required

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. 

Reasons to take an instant loan

People often turn to instant loans in Gurgaon 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.

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Frequently asked questions

Whats the minimum amount of gold loan I can take?

Gold is one of the most liquid and valuable assets. When you pledge your gold with a lender, because of its high LTV (Loan to Value) ratio, up to 75% of the market value of the loan that you have kept as collateral can be obtained as the loan amount. There is no minimum amount of loan that you can obtain in the case of a gold loan. On the other hand, it is possible to save much on the loan interest by opting for a high-value loan. It is possible to save up to INR 12,000 on the loan interest. The loan interest rate for a loan amount of less than INR 2 lakh begins from 1.29% per month. If the loan amount is between 2 lakh and 5 lakh, the interest rate starts from 0.99% per month. If the loan amount is over 5 lakh, the loan interest rate starts at 0.89% per month. There are also different schemes that Rupeek offers for the loan repayment.

What identity proof is valid for a instant loan?

When compared to other sources of quick funds, an instant cash loan is one of the best options as it requires a minimum length of procedures, paperwork, and other documents. When you avail an instant cash loan, there are three, or two main documents to present - depending on the type of the loan. There are two types of instant loans - a collateral-free instant loan and a collateral-based instant loan. In the case of collateral-free instant loans, documents to prove your identity, your address - such as your Aadhaar Card, PAN Card, Passport, Driving License, Ration Card, Birth Certificate, Electoral Photo Identity Card, Matriculation Certificate, etc, can be presented. Among these documents, the PAN Card is considered the most mandatory document. You will also have to give an income statement or a salary slip to prove that you have a stable source of income and that the loan repayment will be done within the loan term. But, in the case of a collateral-based loan, you neither have to present your income statement nor your salary slip. You are only required to present your identiy proof and address proof.

How long will the application process take?

One of the best features of the instant cash loan is the speed of the transaction. You can place a request to get a loan either by downloading the app or by visiting the web portal of the lender. After placing a request, within a few minutes, a representative will get in touch with you to fix an appointment. In case of a collateral-free loan, the entire process can be carried online. However, if it is a collateral-based loan that you have opted, an offcial representative will visit you wihtin 30 minutes from setting the appointment to check the authenticity of your collateral and verify the documents. After the approval of the loan, the loan amount would get transferred to your account. The entire process is very simple and convenient. It wouldn't take more than 60 minutes to carry out the entire process from the loan application to the disbursal of the funds.

Will an instant loan help pay off credit card debt?

When it is about choosing the right financial instrument for getting cash instantly, people often choose credit cards, without realising that the penalty for non-payment can often be detrimental for their financial profile. Credit card debt often causes irreparable damage to the credit rating of a borrower, thereby reducing the chances to apply for a new loan. However, by availing an instant cash loan online, you can settle off your existing card debts and start your financial journey afresh. By settling off your credit card debts, you can partially offset the damage caused to your credit score. And, as the instant loan interest rates are usually lower than credit cards, you may save a substantial amount by paying off your card dues with an instant loan.

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