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Online Loan in Surat
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Online loans in Surat

Situated beside the Tapti River, Surat is a large city in Gujarat. It is listed as the second cleanest city of India as per the annual survey of 2020. The city’s economy largely depends on diamond cutting and polishing, accounting for a significant portion of all the diamonds sold globally.

On the backs of this industry, several other sectors have also emerged in the city over the years. These developments have also led to steepening standards of living. To cope up with the rising costs, meet unprecedented expenses, or for any other cash shortfalls in Surat, individuals can opt for an online loan.

Features Of Online Loans

Online loans for personal expenses are the perfect tools to manage emergency liquidity crisis efficiently. Following are some of the basic attributes of online loans.

  • Easy Accessibility: Online loans enable borrowers to keep track of loan details at points. Individuals can log in to the account to view the outstanding amount, payable interest, and remaining numbers of EMIs.
  • Round the Clock Services: Online personal loans come with round the clock services. Individuals can apply for this financing option 247. The round the clock services of online personal loans ensure borrowers can cover any contingencies without waiting for traditional banking hours.
  • Fast Disbursal: Individuals can get access to quick funds with online personal loans. The processing time is usually 1-2 business days, and the loan amount gets transferred to their account directly without any manual intervention.
  • Loan Calculator: Different online calculators featured by financiers help prospective borrowers to calculate the eligible loan amount, interest payable, EMIs, etc.
  • Types: Online loans are of two types – secured and unsecured. In the former case, applicants need to provide collateral, like gold. In the latter case, individuals are not required to pledge any asset to get funds.

Online Loan Eligibility Factors

The eligibility parameters one must satisfy depend on the type of loan. Usually, lenders of online gold loans are considerably less strict with factors like credit score, age, FOIR, income level, or earning stability.

To avail an unsecured online loan, however, applicants need to meet the following criteria:

  • 750+ CIBIL score
  • 2 year’s work experience, 1 year with the current employee (for salaried individuals)
  • Min 2 years’ experience in self-employment (for self-employed individuals)
  • monthly income of Rs. 15000 (for salaried individuals)
  • gross annual income of Rs. 5 lakhs (for self-employed individuals)

Online Loan Documentation

The documents required while applying for an online personal loan in Surat also vary based on the type of loan. The following table shows the generic documents required for an unsecured online loan and online gold loan.

Particulars

Unsecured Online Loans

Online Gold Loans

ID proof

Aadhaar card, PAN card, driving license, Voter’s ID card, etc.

PAN card, Voter’s ID card, Aadhaar card, passport, driving license, etc.

Address proof

Rent agreement, ration card, utility bills

Ration card, rent agreement, utility bills

Income proof

Salary slips, Form 16, bank account statements, ITR, etc.

Not required

Individuals must also note that interest rates for online cash loans without security is comparatively higher than that of secured options, like a gold loan. Besides these, prospective borrowers in Surat may want to check factors like processing time and loan amount offered when looking for ‘online loan lenders near me’.

In general, gold loans are a suitable option for people searching for an affordable yet high-value and straightforward financing option.

Online Gold Loan As A Substitute For Other Online Loans

During emergency liquidity crisis, an online gold loan can provide enormous financing support. The benefits of availing an online gold loan include:

  • Minimal paperwork hastens the processing time. Individuals need not upload endless documents.
  • Online lenders do not enquire about the credit history and CIBIL score, which makes the loan easier to avail.
  • The short loan tenure of gold loans helps borrowers to repay the loan amount quickly as opposed to unsecured online loans.
  • As gold loans are secured, it helps to reduce the overall cost of borrowing.

Besides these, borrowers can enjoy a host of other benefits like doorstep service, highest per-gram rate, and multiple repayment schemes with Rupeek’s online gold loans.

Reasons To Avail Financial Services At Rupeek

Our customers can expect the following benefits from Rupeek.

  1. Faster Processing Time

By availing an online gold loan with Rupeek, individuals are assured of faster processing time and quick disbursal. Individuals can avail up to Rs. 1.5 crores as an instant cash loan in 1 hour in Surat with us. Addressing urgent situations, such as a medical emergency, has never been easier.

  1. Doorstep Services

To save borrowers from uploading a vast number of documents online and make the loan availing experience convenient, we provide doorstep instant gold loan services. Opposed to other online loan procedure, our gold loan executives reach at the client’s preferred location within 30 minutes to verify the documents and evaluate the gold. Therefore, individuals can avoid the risk of carrying their valuables outside as well as enjoy immediate cash loan in Surat from the comfort of their home.

  1. Reduced Interest Rate

Unsecured online personal loans come with a higher interest rate. But with our financial services at Rupeek, individuals can avail an online loan at a starting interest rate of 0.79% per month.

  1. Highest per Gram Rate

At Rupeek, we provide the highest per gram rate of gold. Individuals can check the loan amount by using our advanced gold loan online calculator. Also, they can find out how much gold they need to collateralise for getting a particular loan amount.

  1. Easy Repayment

While other online loans in Surat compel borrowers to strictly pay monthly EMIs, our clients can choose to pay as per their convenience. With our easy and flexible repayment schemes, individuals can choose to pay any amount whenever during the tenure or opt for standard EMI payments.

The benefits of our financial services do not end with the above-mentioned facilities. We provide our clients with the additional facility of a gold credit line.

Let’s take a quick glance over the credit line facility of Rupeek.

Rupeek’s Gold Credit Line

Also known as ‘Rupeek Quick’, the gold overdraft facility enables borrowers to secure a credit line against additional pledged gold. Individuals can withdraw cash from that credit line any time as per their requirement. Moreover, they can save a substantial amount by paying interest only on the expended amount and not on the entire sanctioned limit.

Localities In Surat Where Rupeek Serves

Prospective borrowers can avail our online loan doorstep services in and around the following locations in Surat.

  • Sachin
  • Dumas
  • Dumas Road
  • Hajira
  • Udhana - Magdalla Road
  • Mota Varachha
  • Katargam
  • Pal
  • Olpad
  • Amroli
  • New textile market
  • Adajan
  • Umarwada
  • Piplod

Click apply now and get the best online loan against gold in Surat instantly.

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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. How is KYC verified by Rupeek for an online loan?

The loan executive of Rupeek will ask the borrower to provide the KYC documents and will take photographs of the documents. Next, he/she will upload it in the Rupeek’s system for further verification from the loan approval team, which usually takes a few minutes.

  1. Can I pledge any gold bracelet for online gold loan in Surat?

Yes, you can pledge a gold bracelet to avail an online loan. Make sure the gold’s quality is above 18 carats.

  1. Can I part release pledged gold during the repayment tenure?

Indeed, you can opt for part release during the gold repayment process. However, remember that each gold jewellery that you want to part release should weigh approximately 10 gm or more.

  1. Are any family members allowed during the gold appraisal for online loans?

Individuals applying for online loans must be physically present during the gold appraisal.

  1. What points should I consider while applying for online gold loans?

Before applying for online gold loans, one should consider Loan to Value ratio, additional charges and fees, the safety of the gold, repayment schemes and interest rate.

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