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Instant loan in selaqui

Selaqui in Dehradun is an industrial area, away from the main city, and is quite crowded. The temperatures here are comparatively higher than the other city areas. It is one of the places in Dehradun that tourists like to visit owing to its attractive natural surrounding. However, being an industrial area, it is quite frequented by people from the industrial field, yet its picturesque surroundings make it a treat to spend a few days here. Being in close proximity to the main city of Dehradun, tourists like to visit and explore the many attractive sites situated in and around this area. Some of its major attractions are the Robbers Cave, Malsi Deer Park and so on. Also, since a lot of trade takes place from here, instant loan in Selaqui in Dehradun is a common requirement with most of the local traders here.

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.

Features of an instant loan

Instant loans are one of the simplest and most popular loans in India. Out of all loans offered by Indian lenders, instant loans are the most feature-rich and easy loan you can avail. Some of the prominent features of an instant loan are:

Flexibility- The first feature that makes an instant loan unique is its flexibility. You may use the loan amount for any purpose you want to. 

Loan approval- The second feature is the speed at which instant loan approvals occur. Usually, an instant loan gets approved within an hour of the loan application. 

Ease of loan application- The third feature is that you can apply for an instant loan online or offline. The entire process, from application to approval, is transparent, quick, and painless and is hassle-free when it comes to gold repayment. 

Minimal documentation-Last but not the least, instant loans are so popular due to the minimum documentation required to apply for an instant loan. You need to upload no more than five to six documents to submit your loan application.

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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.

Can I take an instant loan for travel?

Travelling to near and far can set you free from the mundane affairs of life. It prepares you to deal with routine tasks in a better way. However, there are times when money plays a hindrance between you and your travel dreams. An instant cash loan online is the best financial instrument that you can apply for when you need urgent cash. To avail an instant loan at attractive terms and interest rates, you must have a credit score of 650 and above. Credit score determines your repayment capability and can enable you to negotiate with your lender. To avail an instant loan, you have to submit documents like PAN Card, Aadhaar Card, income statement, bank account statement, and a few other documents.

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.

Should I take an instant loan to start a small business?

When you plan to start a business, money plays the most crucial role. An instant cash loan online is one of the best ways to get urgent funds when you want to establish a business. The best feature of an instant loan is that you can use it to spend on any business purpose you wish to. Applying for and getting an instant loan is as easy as 1-2-3. All you should do is download the lender's app, enter a few basic details, upload the required documents, and receive the loan amount in your account. Applying for an instant loan is better than borrowing money from other sources, as an instant loan boosts up your credit score when you repay on time. A high credit score may make you eligible to receive further loans at low rates of interest.

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