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Online Loan in Mysore
online-loan-in-Mysore

Online loans in Mysore

One of the fastest-growing cities of Karnataka, Mysore is famous for its tourism and IT sector. IT giants like Infosys and Wipro have their offices here. Tourism is also a significant part of Mysore’s economy, and places like Mysore Palace, Zoo, Brindavan Garden are notable points around this city.

Mysore’s rapid economic growth in recent years has made staying here significantly costlier. Unforeseen expenditures, big-ticket purchases can be a challenge to meet with only savings. In such situations, an online loan in Mysore offers an apt solution for any financial shortfall.

Features Of Online loans

An online loan is a financial product that comes with a series of borrower-friendly features to help them meet any monetary requirements. Here are some notable ones –

  1. Multi-purpose
  2. Quick processing
  3. Flexible repayment options
  4. Favourable eligibility and documentation

These features of an online loan in Mysore make it a go-to financing option for many. However, a point to note here is that online loans are of two types, secured and unsecured.

In terms of unsecured loan, the eligibility criteria are stringent, and at times it is difficult for some to meet them as well. Therefore, individuals can opt for a secured instant online loan Mysore as an alternative.

Here is a comparison table to provide a better insight –

Particulars

Secured Loan

Unsecured Loan

Collateral

Needed

Not needed

Interest rate

Lower compared to unsecured loans

Higher compared to secured loans

Eligibility Criteria

Only valid KYC is necessary alongside ownership of the to-be-pledged asset

The applicant must have a credit score above or equal to 750, low FOIR and credit utilisation ratio, minimum income as specified by the lender, etc.

Processing time

If gold is pledged, the processing time is only a few hours. It can go up to more than a few days if it’s a real estate.

Around 1 – 2 days

Loan amount

Based on the LTV

Based on eligibility

Even though an unsecured loan in Mysore does not require collateral, the associated eligibility and loan terms are often not favourable for many. In such cases, one can opt for a secured loan, especially a gold loan, to avail better loans terms.

Gold Loans As An Alternative

Online gold loan in Mysore allows borrowers to avail funds at favourable terms. It offers benefits like low-interest rate, quicker processing (within a few hours), and many more. Furthermore, restriction-free usage of gold loans allow borrowers to address an array of different expenses, such as –

  1. Supporting business working capital
  2. Meeting medical expenses
  3. Funding house renovation costs
  4. Supporting higher studies
  5. Financing wedding expenses

To make the most of gold loan online benefits, however, one needs to select a reliable lender. In this regard, Rupeek is a name to consider.

Merits Of Online Gold Loan Offered By Rupeek

Rupeek is one of the leading gold loan providers in India, offering a host of different customer-friendly benefits. Here are some prominent ones –

  1. We offer instant loan in Mysore without income proof. Here, customers need to submit only the KYC documents to avail funds from us.
  2. Our doorstep service and strong presence in Mysore enables borrowers to avail instant cash loan in 1 hour in Mysore.
  3. Customers can make the most of their gold with our highest per gram rate. With a loan of up to Rs. 1.5 crores, borrowers can meet any number of expenses adequately.
  4. The rate of interest charged by us on online loans starts from as low as 0.79% per month, making interest payments more affordable.
  5. Rupeek also features multiple repayment schemes to help with loan payments. Individuals who prefer recurring payments can opt for EMIs. Whereas, borrowers with irregular cash flow might consider paying instalments of any amount at any time during the tenure.
  6. Along with these, we also follow best-in-class security protocols to ensure the safety of the gold articles. Besides being transported in GPS-traceable bags so that borrowers can track their valuables in real time, we also deposit the pledged items in a best-grade partner bank vault.

Alongside these, our borrowers can further benefit with an overdraft facility against gold, Rupeek Quick. It lets borrowers deal with unforeseen expenses more efficiently.

Gold Overdraft Facility In Mysuru By Rupeek

Our existing customers can pledge more gold to avail credit line from which they can withdraw funds as per their will. Also, they are liable to pay interest only on the amount they have used.

Places Of Mysore Where Rupeek Extends Its Services

Individuals residing in and around the following locations can avail a quick loan in Mysore in just 30 minutes.

  • Bannimantap
  • Bylakuppe
  • Bettadapura
  • K.G Koppal
  • Hunsur
  • Periyapatna
  • Kuvempunagar
  • Vijayanagar
  • Gokulam
  • Jayalakshmipuram
  • Udayagiri
  • Saligrama
  • Saraswathipuram

An online loan with its favourable features offers an excellent solution for any financial crisis. Plus, with Rupeek’s online gold loan, individuals can enjoy lower interest rates, doorstep service, highest security of gold, and complimentary gold insurance.

Thus, instead of voice searching for ‘Online loan providers near me’, you can contact Rupeek for a quick and hassle-free financing solution.

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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% 0.79%
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 -
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Frequently asked questions

  1. What is the process to close a gold-backed online loan with Rupeek?

Once you log in to your Rupeek account, you will find a ‘close loan’ option. Clicking on that will display your account summary, which includes a detailed breakup of the outstanding amount, interest payable, etc. You can pay the full amount thereafter to close your loan.

  1. Can I get an instant loan in Mysore without income proof?

Yes, you can get a loan without submitting an income proof. However, it’s only possible if you opt for a secured financing option, like a gold loan.

  1. Which gold items does Rupeek accept?

Rupeek only accepts gold ornaments of quality above or equal to 18 carats.

  1. Is there any refund offered by Rupeek for gold-backed online loans?

Yes, Rupeek offers a rebate on repayments. However, it depends on the frequency of payment. Therefore, you can fetch a better refund with a higher frequency of payments.

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