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Chandigarh
sector 23 chandigarh
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Instant loan in sector 23 chandigarh

Sector 23 is a locality situated in Chandigarh city. Its pin code is 160023 and its postal head office is situated within the locality itself. Some of its neighboring areas are Sector 22, Sector 36 and Sector 15. Major well-known cities such as Panchkula, Mohali and Karoran can be travelled from this locality. Sector 23 has a good connectivity to other parts of Chandigarh via rail as well as bus. Some of the closest railway stations to this locality are Chandigarh Junction Railway Station and Sas Nagar Mohali Railway Station. The closest bus stations to Sector 23 are 23 Mkt. Bus Station and 22/23 Bus Station. Instant loan in Sector 23 in Chandigarh is easily available to residents in and around the locality.

Features of an instant loan

Thanks to the flexibility and the simplicity associated with an instant loan, it is the most popular and demanded source of funds in India. An instant loan offers many exclusive features that makes it a favorite among the borrowers in Chandigarh. Listed below are some of the most attractive features of an instant loan:

Flexibility - The funds that are obtained through an instant loan can be put to any use, as long as it is not for speculative or illegal purposes.

Loan approval - Usually within an hour from the loan application, the loan amount will get disbursed into your account, just as the name suggests.

Loan application - An instant loan can be placed online as well as offline. The borrower can use the app, the website, or can also call the customer service desk to make a request for the loan. The procedure, from the loan application to the transfer of the amount remains smooth, transparent, and quick.

Minimal paperwork - One of the reasons why instant loans are so popular is that they hardly require any paperwork at all. Not more than five documents are to be uploaded under any circumstance.

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Difference between instant loans and personal loans

Difference between instant loans and personal loans

While both instant loans and personal loans serve the same purpose, that is to provide you with cash, there are some differences between the two.

Difference

Personal Loan

Instant Loan

Nature

A personal loan is an unsecured loan.

An instant loan can be either secured or unsecured.

Collateral
Requirement

You do not need to submit any collateral guarantee to avail the loan.

If you opt for a secured loan you will have to pledge collateral, which isn’t the case if you apply for an unsecured loan.

Documents Requirement

Due to its unsecured nature, lenders require various documents that prove the stability of your income and keep the loan amount low.

You only need to submit certain basic documents such as identity proof in case of a secured loan. Documentation requirement is low as you will anyway be pledging collateral. In case of an unsecured loan you will have to submit documents such as income statements, payslips. address proof, etc

Maximum Limit

The limit of an unsecured personal loan or an unsecured instant loan is typically up to INR 20 lakh.

In the case of a secured loan, the limit depends on the collateral pledged. If you apply for a secured instant loan, the lender would sanction up to 75% of the collateral’s market value. Hence, if you deposit collateral whose market value is INR 1 crore, you may get a loan of up to INR 75 lakh. In case of an unsecured instant loan, the limit is INR 5 lakhs.

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Frequently asked questions

How to apply for an online gold loan with Rupeek?

The loan application process at Rupeek is short and sweet! All you'll need to do is download the Rupeek from the PlayStore, create an account with a unique username and password and place a loan request. If you wish to directly get in touch with a Rupeek loan executive you may do so by placing a call on the customer care number. If you are applying for an unsecured instant loan, the necessary documents can be uploaded online. Whereas, if you are applying for a secured loan, a Rupeek representative will visit you at a location and time as stipulated by you. This visit is primarily for the verification of certain essential documents such as Aadhaar Card, PAN Card, and collateral valuation. Post successful verification, the amount is disbursed. Ideally, whether you apply for a secured or unsecured loan the approval will only take about an hour.

How long does the gold loan application process take with Rupeek?

Rupeek believes in a fair and transparent loan approval process. To apply for an instant gold loan, you have to download the Rupeek app and create an account. The next step is to place the gold loan request. Within a few minutes of placing the loan request, you would receive a call from the loan officer. The loan officer will schedule a meeting with you. Once the loan officer or gold appraiser arrives at your house or office, s/he would evaluate the gold and verify your documents. On satisfactory verification of documents, the officer would inform you the amount you are eligible to receive. If you reply in the affirmative, the officer will process your loan, and you would get the money in your account within five minutes. Usually, the entire process takes no more than one hour.

Which is the best loan to take for a marriage ceremony?

Marriage is undoubtedly one of the most auspicious occasions of any person’s life. When your dreams and plans are that grand, money is also likely to come in the way. An easy way to tackle this problem seamlessly is by opting for an instant cash loan. Many online platforms offer an instant cash loan online. Like it is obvious in the name, an instant cash loan is the answer for quick funds. With instant cash loans online, you do not have to sacrifice your dreams for a secure future. Instant cash loans can be easily availed against the submission of a few required documents as proof of your identity, address and your income. You can also get collateral-based instant loans against the pledging of collateral.

What is the minimum monthly income needed for an instant loan?

For the security of the instant loans that the lenders have lent to the borrowers and to prevent the non-repayment of the debt, the lenders evaluate the income-to-debt ratio of the borrower before giving the loan approval. It is only after making sure that the borrower has a steady source of enough income that the lenders approve the loan amount. The lenders make sure that the borrowers can pay off the loan, without the EMIs burning a hole in their pocket. The borrower has to earn a minimum amount of 18,000 to 21,000 every month to be eligible for the loan. Among the required documents that the borrower has to submit before the loan approval are the income statement and the salary slip. But you can dodge this requirement by opting for a collateral-based instant loan that does not require your salary slip or your income statement.

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