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Online Loan in Bangalore
online-loan-in-Bangalore

Online loans in Bangalore

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. 

Features Of Instant Online Loans In Bangalore

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.

  • Flexibility In Collateral: Online loans can be both secured and unsecured depending on the lender. Thus, borrowers have the flexibility to choose whether they want to pledge an asset (commonly gold) or not.
  • Convenience: Individuals can apply for online loans as per their convenience, irrespective of place and time.
  • Access Of Information: The online mode of loans enables borrowers to keep track of all the transaction and record. Through the online loan account, borrowers can track the progress of the loan application, outstanding principal amount, and the total number of due EMIs.
  • Round The Clock Service: By availing online personal loan in Bangalore, individuals can meet emergency expenses like medical contingencies and many other personal needs as these loans are offered 24x7.

Eligibility Criteria For An Online Loan

Lenders check the following parameters before sanctioning online loans in Bangalore

  • Age of the applicant
  • Place of residence
  • Employment type (Salaried or Self-employed individuals)
  • Income level
  • CIBIL Score of 750 or above
  • Credit and employment history

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.

Documents Required For An Online Loan

An eligible personal loan applicant must submit scanned copies of the following documents during online loan application.

  • As identity proof – PAN card, Voter’s Id Aadhaar Card, driving license, or passport
  • As address proof – Aadhaar card, lease or property purchase agreement or utility bill
  • As income proof (salaried individuals) – Salary slip, bank account statement, or Form 16
  • As Income proof (self-employed individuals) – Previous year’s ITR, audited P&L Statement and balance sheet, or bank account statement
  • Passport-sized photographs

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.

Collateral-Free Online Loan Vs Online Gold Loan

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.

Reasons To Avail Financial Services At Rupeek

Prospective borrowers can expect the following benefits and attractive feature with us at Rupeek –

  • Quick Disbursal

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. 

  • Doorstep Service

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. 

  • Minimal Documentation

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.

  • Highest LTV

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. 

  • Lower Interest Rate

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.

  • Flexible Repayment

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.

  • Gold Overdraft Facility

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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Rupeek In Bangalore – Locality List

Individuals looking for a ‘gold-backed online loan provider near me’ can avail our services in the following areas in Bangalore.

  • Koramangala
  • Hal old airport road
  • Sampangi Rama Nagar
  • Electronics city
  • Whitefield
  • Yelahanka
  • Hsr layout
  • Banashankari
  • Bommanahalli
  • Bellandur
  • Bannerghatta
  • Nelamangala
  • Hoskote
  • Jp nagar
  • Banaswadi

So, without further ado, get the best personal loan against gold online in Bangalore. Apply now!

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Benefits of Gold Loan over online loans.
  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
  • 20 lakh
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 -
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Frequently asked questions

  1. How to apply for an online loan against gold in Bangalore?

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.

  1. What documents do I need for a gold-backed online loan?

You need to submit only KYC documents. Also, provide utility bills, lease agreement of local address as address proof.

  1. Who are Rupeek’s lending partners in Bangalore?

Rupeek’s lending partners are ICICI Bank, Karur Vysya Bank and Federal Bank.

  1. How can I extend my existing gold-backed online personal loan?

You can do so by re-pledging your valuables. Contact our customer support team. They will guide you through the entire process.

  1. Does Rupeek accept all gold items for an online loan in Bangalore?

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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