Online loans in Ludhiana

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:

• One can avail these credit products whenever they want. That means after banking hours as well as on weekends and even on holidays.
• An online loan in Ludhiana can be ideal for people who are in urgent need for funds and cannot wait for long.
• Depending upon the lender, these can take much less documentation when compared to its traditional counterparts.

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:

1. Strict Eligibility And Documentation

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.

1. Impractical Rate Of Interest

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:

• Better Rate Of Interest – We understand how troublesome repayment can become; thus, we offer an interest rate as low as 0.79% per month to ease your worries a little.
• LTV Up To 80% - Get the most out of your gold jewellery with such high loan-to-value ratio. If you want to know how we calculate LTV, check our gold loan calculator.
• Precise Repayment Tenure – With our short-term loan in Ludhiana, you do not have to carry the burden of loan repayment for years and can move forward efficiently.
• Impressive Overdraft Facility – Get an extended credit line with our overdraft facility called Rupeek Quick. Withdraw as much required from your sanctioned sum and pay interest only for what you have used.
• At your Doorstep – We offer doorstep loan facility to ensure that you feel safe while handing your gold to use. Our representative will visit your house and do all procedures there itself and leave after the approved amount has been credited in your account.

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.

• Shimlapuri
• Brown Road
• Ferozpur Road
• Moti Nagar
• Basti Jodhewal
• Focal Point
• Sarabha Nagar
• Shivpuri
• Mundian Kalan
• Gill Road
• Model Town
• Dhandari Kalan
• Basant Avenue

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.