Online loans 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.

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

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.

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.

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 0.79% 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.

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	-