Visakhapatnam is the largest and most populous city in Andhra Pradesh. It is also considered as the state’s financial capital with seafood exporting, IT, and pharma industries contributing majorly to the city’s economy.
Besides, Vizag is a prominent tourist spot with sites like Bavikonda stupas, Anakapalle, and Kambalakonda Wildlife Sanctuary. Tourist activities alongside rapid development have increased the cost of living in Vizag, notably over the years. Thus, several financial institutions in Visakhapatnam extend an online loan to help individuals cope with the rising expenses and address unprecedented costs efficiently.
An online loan in Visakhapatnam is a multi-faceted product that can support an array of expenses. Here are some common ones –
The low-interest-rate of secured instant online loan Visakhapatnam can help individuals to save substantially on loan repayments.
The substantial amount offered by an online loan can aid in making high-value purchases without any difficulty.
Online business loan Visakhapatnam can support an array of business expenses. Entrepreneurs can use these funds to facilitate working capital, procure inventory, and many more.
Instant online loans in Visakhapatnam get approved quickly, which allow borrowers to meet any unprecedented medical expense timely.
Since there are two types of an online loan, a borrower must go through the individual terms and features to make an informed decision. Even though the unsecured ones do not ask for any collateral, the associated eligibility criteria may be difficult to meet for some.
On the contrary, a secured one like gold loan comes with more lenient eligibility criteria and favourable loan terms. Along with that, it also provides a host of features that help individuals to meet any financial need that they may have.
Here are the notable features of gold loans that make it a preferred option among borrowers –
The features of gold loan online make it easier for borrowers to avail and manager their funds. Also, repayment is not a hassle. However, it is vital to opt for a reliable lender to make the most of these features. In this regard, prospective borrowers can consider Rupeek with its multiple industry-first benefits.
Rupeek is one of the leading fintech companies of India, operating in almost every part of the country. Our motto of fair, fast and flexible is further enhanced by the borrower-friendly benefits that we offer.
Here are some of the prominent features of this financial institution –
We offer more than one repayment schemes to make this process more accessible. Customers have the opportunity to select from traditional EMIs, interest pre-payment, or one-time bullet payment scheme, where you can pay off the entire debt in a single instalment after the tenure.
Also, repaying the loan is more affordable with our low-interest rate that starts from as low as 0.79% per month.
With Rupeek, one can avail up to Rs. 1.5 crores, and it is primarily due to the high LTV ratio that we offer. It can rise to 80% of the total value of your ornaments. Borrowers can use the gold loan calculator on our website to learn more about this.
We also offer a simple loan transfer facility that allows you to save up to Rs.12,377 per lakh. Once borrowers share their existing pledge card with our representative, they will guide them through the process.
Furthermore, the overdraft facility offered by us allows our customer to access funds without any delay. Termed as Rupeek Quick, it’s an extended credit line that our existing customers can access by pledging more gold.
Apart from instant funds, it also allows our customers to pay interest only on the amount they withdraw, and not the entire line of credit.
Furthermore, our presence in the top localities of the city allows us to respond to your immediate cash loan in Visakhapatnam requirements promptly.
An online loan offers a quick and affordable solution to any financial distress. With Rupeek, they can now maximise their borrowing experience with industry-first features like an instant online gold loan at doorstep in just 30 minutes.
|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||-|
Once you log in from the ‘Repay your loan’ page using an OTP, you can view your account details. After that, you can select the ‘part payment’ option and make the necessary payments. Nevertheless, your payment amount should be higher than the monthly interest, but lower than the foreclosure quantum.
The process is straightforward; once you apply via Rupeek’s website, a company representative will get back to you for further processing. After that, a loan manager will visit your address to evaluate the gold and validate the KYC details. Once they are satisfied, you will get your funds.
Yes, Rupeek offers a part-release option with its online loan against gold.
Rupeek offers modern, and robust safety measures to transport and store gold articles. The gold ornaments you pledge are kept in high-security vaults within a 5 km radial distance of your house. We place them in a GPS-traceable bag when carrying it from your location to the safe. Moreover, you also get complimentary insurance coverage.
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