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Instant loan in tekanpur

Takanpur is a town in Gwalior district in Madhya Pradesh. This town is also known for the Border Security Force (BSF) Academy. In this academy, the training of Sub-Inspectors and Assistant Commandants of the BSF (CentralArmed Police Force) is done. The literacy level of this town is more than the average national literacy percentage. As this town is only 29 km from Gwalior's central city, it is well connected with road to other parts of the Madhya Pradesh. The nearby railway station is Gwalior railway junction. The nearest airport is Gwalior Airport, which is about 21 km from the center of the town.

Eligibility to apply for an instant loan and documents required

An instant loan can be of two types - 

Secured instant loans- If you apply for a secured loan, i.e. an instant loan against collateral, you can get a higher loan amount. The eligibility criteria are also relaxed. Usually, it does not matter whether you can show income proof or not. You may also apply for a loan with only two documents - PAN Card and Aadhaar Card. 

Unsecured instant loans- If you apply for an unsecured instant loan, the lender would approve the loan based on your income and expenditure ratio, credit score, and the stability of income. To avail an unsecured loan, you have to satisfy the minimum monthly income criteria set by the lender and is usually above INR 21,000 per month. Moreover, you have to submit documents like PAN Card, Aadhaar Card, income proof, age proof, income tax file, bank account statement, and quite often, a guarantor.

 Hence, if you want a no-frills loan, it is prudent to apply for a secured instant cash loan online.

Reasons to take an instant loan

The flexibility related to instant loan guarantees that it can be put to any use. People in Gwalior procure instant loans for a variety of reasons - whether the expenses are planned or unplanned. The funds procured through an instant loan can be used to pay off unprecedented medical bills. It can also be used to finance a tour or a vacation, or to meet other unexpected emergencies. Whether it is for a house renovation that you need funds for, or it is to start a small business or just about anything, instant cash loans do not stand in your way. You can also use them to pay off your credit card debts, to sponsor an event, or to conduct a grand marriage function. The flexibility offered by an instant cash loan makes sure that you can use your funds for whatever need, as long as it is not for speculative or illegal activities. In some cases, it is also possible to apply for tax rebates when you use an instant loan.

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Frequently asked questions

Can I get an instant loan if I'm a homemaker?

As a homemaker, you have to keep a lot many things in your mind, which often includes paying urgent bills. An instant cash loan for a homemaker can ensure an uninterrupted flow of funds which you may use on anything related to your and your family's well-being. An instant loan usually takes no more than 60 minutes to be approved. Hence, you can stay assured about the availability of funds whenever the need arises. To avail an instant loan as a homemaker, you need to submit collateral security to the lender. Depending on the nature, status, and quality of your collateral security, you may get up to 75% of the asset's current market value as a loan. The documents you need to submit include PAN Card, Aadhaar Card, age proof, proof of income, and photographs.

Can I take an instant loan for home renovation?

An instant cash loan is often considered as the best loan when you want to carry out urgent home repairing. You may use the funds to carry out plumbing work, electrical work, painting, or structural repairs. Alternatively, you may use it to buy an air conditioner or any other device or gadget which would enhance the aesthetic beauty of your house. The application and the instant loan approval process is pretty straightforward. Keep a few essential documents like PAN Card, Aadhaar Card, and two or three other documents ready, and you would most likely get the funds in your account within an hour of the loan application. The loan interest rate and loan term will depend on your credit worthiness and your ability to make the loan repayment on time. If a home renovation is high on your priority list, an instant loan can be your best friend.

What can an instant loan be used for?

An instant loan is a highly flexible source of funds, which makes it one of the most popular sources of funds. The borrower can use the acquired funds for any purpose, as per his requirements, except for illegal and speculative activities. Most people take an instant cash loan for business requirements or to meet other capital requirements. People also use the acquired funds to renovate their house, which can make them eligible to obtain tax benefits up to INR 1.5 lakh. If the funds have been acquired for the construction of a house, the borrower can receive tax benefits up to 2 lakh. The funds obtained through an instant cash loan can also be used to purchase electronic equipment or a motor vehicle. The borrower may also borrow money to meet unprecedented expenses such as a medical emergency.

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

Whether or not you need to have a high credit score depends on the type of loan you are applying for (collateral-based or collateral-free instant cash loan) and on your lender. You are required to have a credit score only as long as you are opting for a collateral-free instant loan. If you are opting for a collateral-based instant cash loan, you are not required to have a credit score. A credit score is requested by the lenders as it is a mark of your financial health. Your credit score and your financial health are directly proportional to each other. On the other hand, if you are placing an application for a gold loan with Rupeek, your credit score is not required. This is because of the security of the collateral that you have pledged with the lender. This also enables the lender (as per the RBI regulations) to disburse amounts equal to 75% of the market value of the pledged gold to the borrower. Besides, you can also get lower loan interest rates with Rupeek.

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