Online Loan in Coimbatore

Online Loan in Coimbatore

Located on the banks of Noyyal River, Coimbatore is the second-largest city in Tamil Nadu after Chennai. The cosmopolitan city is famous for its art and culture. Places like Gass Forest Museum, Adiyogi Statue, Marudhamalai Hill Temple, Sree Aayappan Hill temple, Perur Pateeswarar Temple, and Geede Car Museum attract a lot of tourists throughout the year.

The strong presence in manufacturing (automotive components), education, exports (jewellery) and health care sectors has made Coimbatore, one of the fastest-growing among the tier-II cities in India. Apart from the large textile base that earned it the status of the ‘Manchester of South India’, Coimbatore has also expanded in the IT sectors over the years.

The advancement in technology as well as in economy has upped the lifestyle of people living in Coimbatore. It has also led to increased credit awareness. Individuals in Coimbatore rely on financing options, like an online loan to cover various personal expenses as well as meet urgent bills or payments.

Purpose Of Availing Online Personal Loan In Coimbatore

In this technologically advanced era, arranging cash during a liquidity crisis has been made easy with online loans. Individuals can get access to funding from various financial institutions (fintech companies, banks, and NBFCs) through digital medium and meet several personal expenses. The purposes may include the following:

  • Relocate in Coimbatore
  • Finance child’s higher education
  • Meet medical expenses
  • Cover a medical emergency
  • Clear outstanding credit card bills
  • Defray home renovation costs

Online Personal Loan Eligibility

To get a quick loan in Coimbatore for personal purposes, individuals must fulfil the required eligibility criteria set by the financial institutions. Though these parameters vary with each lender, the basic factors that are enquired include:

  • Age of the applicant
  • Place of residence
  • Employment type (Salaried or Self-employed)
  • A credit score of 750+
  • Credit and Employment history
  • Repayment capacity.

Online Personal Loan Documentation

While applying for instant online loans in Coimbatore for personal expenses, both salaried and self-employed individuals must accumulate the following documents.

  • PAN Card/ Voter’s Id/ Aadhaar Card/Driving License/Passport
  • Lease or Property Purchase Agreement/Utility Bill
  • Applicant’s income proof, like salary slips, bank account statements, Form 16

Individuals can avail both secured and unsecured online loans. However, the documentation associated with unsecured online loans is extensive. Also, unsecured online loans come with a higher interest rate, which increases the total repayable amount.

In this regard, individuals can opt for secured financing options like online gold loans due to their minimal paperwork and relaxed eligibility criteria.

Other Online Loans vs Online Gold Loans

Due to its secured nature, gold loans can provide instant funding during urgent cash requirements. Individuals can use the cash to meet various personal expenses. They can cover emergency expenses like pay medical bills and others. The benefits of availing secured gold loans online include:

  • Only KYC documents and address proof is necessary.
  • The secured nature of online gold loans reduces the overall cost of borrowing.
  • The loan tenures of other online loans (personal loans) usually range between 1-5 years. On the other hand, repayment terms of online gold loans are shorter (up to 12 months). With a shorter tenure, individuals can quickly repay the loan amount and ward off their burden of paying EMIs for years.

The multi-faceted advantages of online gold loans prove to be an optimal financing solution to individuals facing a liquidity crisis. In this regard, individuals of Coimbatore who are looking for a ‘gold-backed online loan provider near me’ can trust our 100% transparent gold loan processing and consumer-friendly financial services available at Rupeek.

Reasons To Avail Financial Services At Rupeek

At Rupeek, individuals are guaranteed to avail the following benefits.

  • Doorstep Services: The instant doorstep gold loan services offered by Rupeek makes us stand out from other online loans providers. Our gold financing option is designed to make the gold loan experience hassle-free and convenient. Individuals can avail instant funding up to 1.5 crores at the comfort of their home, maintaining the utmost privacy.
  • Quick Disbursal: With Rupeek, individuals can expect the fastest gold loan services. From requesting a gold loan for personal purposes to documents verification to gold valuation and cash transfer, the entire loan process takes only 45-60 minutes.
  • Lower Interest Rate: As opposed to unsecured online loans, the interest rate offered at Rupeek is much lower. Individuals can avail gold loan at a starting interest rate of 0.49% per month. The lower interest rate helps borrowers to manage the loan efficiently as well as save a considerable amount.
  • Highest LTV: Loan to Value ratio points to the amount individuals would get against their pledged gold. At Rupeek, we offer LTV up to 80%. Also, individuals can check the loan amount beforehand by using our consumer-friendly gold loan online calculator.
  • Flexible Repayment: Unlike EMIs, which demands borrowers to pay monthly, the repayment facilities at Rupeek are much more flexible. Individuals can pay whatever or whenever they wish.
  • Gold Overdraft Facility: Also known as ‘Rupeek Quick’, our overdraft facility lets borrowers secure a credit line against gold. This facility enables individuals to get quick funding during urgent and frequent cash requirements as they can transfer money 24/7 as per their requirement. On top of that, by availing the overdraft, borrowers get the advantage of paying interest only on the money they spent from that sanctioned limit.

To ensure individuals in Coimbatore get quick funding to meet various personal expenses, we have stretched our financial services across Coimbatore.

Rupeek’s Presence In Coimbatore

Prospective borrowers who are willing to avail our doorstep services can locate us in the following locations in Coimbatore.

  • Marudamalai Road
  • Saravanampatti
  • Coimbatore tidel park
  • Singanallur
  • Gopalapuram
  • Kovaipudur
  • Malumichampatti
  • Peelamedu
  • Thondamuthurvadavalli
  • Periyanaickenpalayam

To get an instant online loan in Coimbatore, click 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% 0.49%
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 -
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Frequently asked questions

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

No, we do not approve online loans against gold bars or coins. Our lending partners only accept gold jewellery of 18 carats or higher quality.

  1. Can I opt for part payment for an online gold loan with Rupeek?

Yes, you can opt for a partial payment for an online gold loan with Rupeek. If you want to partially pay for your gold loan, the payable amount must be between the monthly interest and any amount less than the full-closure sum.

  1. What are the processes of repledging gold with Rupeek?

If you want to repledge jewellery for extending the tenure, contact our customer support team. Our team will help you to further continue the process.

  1. What are the factors one should keep in mind while availing online gold loans?

To make an informed choice, one should know about the Loan to Value ratio, additional fees and charges, interest rate, gold security, repayment schemes, etc.

  1. How to apply for an online gold loan with Rupeek?

You can visit our website or app to apply for an online gold loan. Our company representative will contact you thereafter. He/she will visit your residence or office per your convenience for the rest of the processing and loan disbursal.

  1. What is the process of changing a registered phone number with Rupeek?

If anyone wishes to update the contact details during the gold loan tenure, they need to contact the customer support team for the alterations. The team will update the details in Rupeek’s database. 

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