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Bangalore, or officially known as Bengaluru, is the capital of Karnataka and the third-most populous city in India. Bangalore is immersed in historical events that mirror the mesmerising places and architecture, like Lal Bagh, Botanical Garden, Bangalore Palace, and Tipu Sultan’s Summer Palace.
Apart from its pleasant weather and scenic beauty, Bangalore is famous for its booming Information Technology and is widely renowned as the ‘IT Capital of India’. The city hosts the Indian headquarters of several multinational companies, like Amazon, Yahoo, Oracle, Texas Instruments, Google, etc. With such IT moguls present in Bangalore, the city has become the destination for young professionals.
The sky-scraping growth of Bangalore also entails an expensive lifestyle. However, the balanced lifestyle in this technologically advanced city explains how people have started to depend on financial products like online loans to meet personal needs. Whereas the fast-pacing life in Bangalore hardly allows individuals to go to financial institutions, individuals with the help of online loans can meet personal expenses any time without worry.
Technological development has brought about a considerable change in all segments, including the financial sector. Though a newcomer, online loans have acquired massive acknowledgement among millennial. The points described below will help individuals to understand the various features and benefits of availing online loans in Bangalore.
Lenders check the following parameters before sanctioning online loans in Bangalore –
The parameters mentioned above are usually checked for unsecured loans. Lending institutions may not check the credit score or employment history of the applicant in question if it’s an online gold loan.
An eligible personal loan applicant must submit scanned copies of the following documents during online loan application.
Contrarily for online gold loans, one only needs to submit the address and ID proof. Because a collateral-free loan implies a more perceived risk for the lender, such stringent checks are necessary. As such, certain individuals may not meet all eligibility criteria to avail such advances. Moreover, such loans come against high rates of interest.
That is why individuals can consider online loans against gold as an alternative because of its lower cost of borrowing and hassle-free processing.
Here are a few key distinctions between an online personal in Bangalore and a gold loan online.
Pointers |
Unsecured online loan |
Online loan against gold |
Interest Rate |
Higher |
Lower |
Eligibility criteria |
Rigid |
Relaxed |
Documentation |
Lengthy |
Quick |
CIBIL Score |
750 or above |
Not required |
Loan amount |
Lower |
Higher |
Once borrowers have made up their mind to avail gold-backed online loans in Bangalore, the next crucial job involves finding the right financial institution that aligns with the borrower’s requirements. In this regard, individuals can trust our financial services at Rupeek Fintech Pvt. Ltd.
Prospective borrowers can expect the following benefits and attractive feature with us at Rupeek –
From applying for instant online loans in Bangalore against gold on our website, to document verification to gold appraisal, all these take only 45-60 minutes to get completed. As an emergency can befall anybody at any time, we make sure borrowers can quickly get the funds to deal with any emergency timely.
Opposed to online loans, our online gold loans involve human intervention and in effect ensure transparency during the whole process. We make sure applicants need not take the burden of scanning and uploading several documents. At Rupeek, we provide doorstep online instant loan services to ensure maximum convenience.
We only verify the KYC documents of our clients. This instant loan in Bangalore without income proof is processed in minimal time, which enables borrowers to meet emergency expenses like paying medical bills and others efficiently.
Loan to Value Ratio refers to the amount individuals will be getting against their pledged gold. With our highest per gram rate, one can take out an online gold loan as high as Rs. 1.5 crores. Borrowers can check the loan amount they would get by using the gold loan calculator, which will help to streamline their expenditure.
Unlike payday loans online with exorbitant interest rates, we offer a rate of interest as low as 0.79% per month. The lower interest rate helps individuals to manage the overall cost of borrowing easily.
Enjoy flexible repayment options with us. Borrowers can repay as per their convenience whenever and however they wish, which means they can choose to pay monthly or pay instalments anytime within the tenure. They can also pay the entire amount at one go.
Through our gold overdraft facility, also referred to as ‘Rupeek Quick’, we extend a credit line against pledged gold’s value. Borrowers can withdraw any amount as per their need whenever. The benefit of this particular facility does not end here. Through this facility, borrowers can save a lot of money as they only pay interest on the expended amount and not on the entire sanctioned limit.
Another factor that gives us the edge over an unsecured online loan in Bangalore is our strong presence across Bangalore.
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Individuals looking for a ‘gold-backed online loan provider near me’ can avail our services in the following areas in Bangalore.
So, without further ado, get the best personal loan against gold online in Bangalore. Apply now!
Comparision Parameters | Other online loans | Online Gold loan |
---|---|---|
Interest Rate | 2.39% | 0.79% |
Monthly Interest Amount | ||
Eligibility & Documentation | More Documents Needed | Only KYC Needed |
Processing Time & Disbursement | 2 days to 1 week | Within a day |
Required Gold Weight | - |
It’s a simple three-step process. At first, individuals need to request a loan from the Rupeek website by clicking on ‘apply now’ option or by entering their phone number. Then, they need to complete the KYC documentation and gold valuation process at their home with our loan representative. They can get the money directly transferred to the account after that.
You need to submit only KYC documents. Also, provide utility bills, lease agreement of local address as address proof.
Rupeek’s lending partners are ICICI Bank, Karur Vysya Bank and Federal Bank.
You can do so by re-pledging your valuables. Contact our customer support team. They will guide you through the entire process.
No. Rupeek does not accept items such as gold bars and coins. Only gold jewellery above 18 carats or above is accepted.
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