Ludhiana is the largest industrial city in Punjab and one of the largest in India. It contributes to the economy through its businesses like bicycle manufacturing and hosiery. It is the hub of Asia’s largest bicycle manufacturing industry and home to the continent’s largest agricultural university called Punjab Agriculture University. The World Bank recognized Ludhiana to be the easiest city in India for business purposes.
While living in this city is of great pride, one also needs to keep up with the ever-increasing cost. People having their businesses there need to put extra effort and funds. On the other hand, Punjabi marriages are indeed extravagant. For such essential needs more than often, people seek an online loan. It’s not only an excellent personal financing solution but also saves people considerable time in loan processing.
An online loan is not just a time-saving way of availing credits. Depending on whether they are secured or unsecured, these can be highly beneficial for the borrower.
Some of its advantages are:
Even though an online loan offers a great set of benefits, the wrong choice of credit can offset the convenience one enjoys. It particularly holds for collateral-free loans, owing to its unsecured nature.
A few shortcomings of unsecured loans are discussed below:
Financial institutions will require the borrower to provide them with their income proof, address proof, tax invoices etc. Moreover, anyone with a CIBIL score below 750 or without a minimum income of Rs. 15000 may not be eligible for a collateral-free online loan.
Immediate cash loan in Ludhiana is provided by several types of lenders. As these credit products do not require any collateral, the interest rates levied on these tend to be higher.
Individuals can avoid these hassles by opting for a gold loan for smartly managing their finances. Individuals can check out the many advantages this option provides over other online financing facilities when searching for ‘online loan providers near me’. However, a brief about gold loans has been discussed below.
Gold, as stated above, is an idle asset, but its value is substantially high when compared with other assets. When you pledge your gold against a sum of money, you are converting the static nature of this highly-liquid asset and putting it to use.
A gold-backed online loan also does not come with any end-use restriction like the majority of online credit products. Its secured nature also proffers a range of advantages to borrowers over an unsecured financing option, like flexible eligibility criteria, comparatively low rates of interest. With Rupeek’s online gold loan, borrowers can reap a range of other benefits to further enhance their borrowing experience.
When you pledge your precious gold to us, you are opening gates for new possibilities with an array of practical benefits we have curated for you. With us, you get:
We are constantly trying to reach as many people as possible all across the nation. Currently, people can get an immediate cash loan in Ludhiana from Rupeek in the following locations.
If you want to know about our other operations in India, download our App or visit our website. We are here to ease your worries so if you need urgent funds, make the correct choice and avail our gold-backed online loan.
|Comparision Parameters||Other online loans||Online Gold loan|
|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||-|
As soon as you hand over your gold to our representative, its safety becomes our responsibility. The gold is kept concealed in a bag that you can track, and for the entire tenure, it is locked in a military-grade vault of our partnered bank, ensuring complete safety.
Yes, you can repay the entire loan amount as a single bullet payment. Also, we offer other repayment methods like interest pre-payment, monthly EMI payments, etc.
Anyone older than 18 years can apply for our gold loan with just their KYC documents.
You can get up to Rs. 1.5 crores as an online gold loan with Rupeek. You can use the loan calculator to estimate the amount you are eligible for against your gold ornaments.
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