Online Loan in Chandigarh

Chandigarh is one of the first planned cities in post-independent India. It is famous around the globe for its urban architecture and modernised settlement. The neighbouring states Punjab and Haryana share this magnificent city as their capital. With India’s highest per capita income, Chandigarh contributes significantly to the nation’s economy.

The steep costs of living in Chandigarh more often than do not leave any financial leeway for individuals to meet unbudgeted costs, like that of a home renovation or children’s education. These individuals can opt for an online loan in Chandigarh to meet their cash shortfalls anytime from the comfort of their home.

The characteristics of online loans are not drastically different from traditional offline credit products. The main difference is the mode of application and the time taken for doing so. As its name suggests, an online loan is a type of credit facility that lets a borrower apply for it “online”. These are available in both secured and unsecured forms, depending upon the lender. Apart from NBFCs and traditional banks, there are also a few online-only lenders that provide these credit products.

These are better than its offline alternatives due to the following reasons:

Easy access at any time of the day. One can apply for instant online loans in Chandigarh on holidays and even after banking hours.
Less stringent documentation if opting for a loan from online-only lenders or certain NBFCs when compared with traditional banks.
A vast range of options can be browsed with just a few clicks, which can be very helpful for comparing requirements and benefits.

Even though online loan, in general, are a better credit option, the availability of numerous options can become overwhelming. Thus, it is imperative to know what type of loan should one look for when searching “online loan lenders near me”.

There are numerous types of online credit products offered by various lenders across the internet. But all of them can be categorised into two segments, which are secured and unsecured. The major differences between these two segments are:

	Secured	Unsecured
Rate of Interest	Reasonably less	Usually high
Collateral	Compulsory	Not necessary
Eligibility Criteria	CIBIL score is not required.	One should have a CIBIL score of at least 750 to be deemed eligible. Moreover, their monthly income should match the lender’s requirement.
Documentation	Documentation can be extensive if the loan is taken against a property. Otherwise, only KYC documents are enough.	Documents like income proof, tax invoice, etc., are required.
Approval time	Approval can take over a week.	Approvals are done within 1-2 days.
Loan Amount	Calculated through the LTV %	Depends on the borrower’s monthly income and overall eligibility

Even though an unsecured loan is often the intuitive choice to go for during a cash crunch, it may not be a smart option always. Plus, the stringent criteria make it inaccessible to people with low or no credit score.

Individuals might consider an online gold loan in Chandigarh to that end. It’s easily accessible, disbursal is quicker, and the cost of borrowing is lower. Besides, customers can reap a range of other benefits if they opt for Rupeek’s gold loan.

We have framed our gold-backed online loan facilities to provide the best credit experience to our customers. Alongside multiple repayment schemes to ensure you can service the loan with minimal hassles, we offer several other benefits. Some of our impressive aspects are:

Notably Less Stringent Documentation

No tax invoice or income proof is required to apply for our online gold loans. All you need to provide us with is your KYC documents.

Lenient Eligibility Requirements

Any loan seeker older than 18 years is deemed eligible for our gold-backed instant cash loan in Chandigarh.

Reasonable Interest Rate

Our rate of interest starts from as low as 0.49% per month, ensuring easy repayment by our customers.

Beneficial LTV Percentage

One can get a loan of up to 80% against their pledged gold’s value from us. To calculate your gold’s LTV, refer to our gold loan calculator.

Excellent Gold Overdraft Facility

Our customers can get an extended credit line by availing our overdraft facility called Rupeek Quick. It allows one to withdraw as much as they want from their approved amount and pay interest for only the amount they have used.

The array of benefits does not end here; we also provide doorstep loan facility ensuring complete safety of your gold assets. Currently, we are providing our gold-backed online loan to almost every part of Chandigarh.

Presently these are the locations in Chandigarh where we provide our services.

Sector 1 Chandigarh
Sector 20 Chandigarh
Ram Darbar
Sector 26 Chandigarh
Sector 15 Chandigarh
Sector 19 Chandigarh
Sector 40 Chandigarh
Sector 21 Chandigarh
Sector 9 Chandigarh
Manimajra
Sector 35 Chandigarh
Sector 22 Chandigarh

By opting for a gold-backed loan, one can utilise their gold ornaments that were lying idle in locker otherwise. So, if you are looking for a reliable and beneficial lender to get a secured online loan in Chandigarh, visit our website.

Comparision Parameters	Other online loans	Online Gold loan
Interest Rate	2.39%	0.49%
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	-