Online Loan in India
online-loan-in-India

Online Loan

An online loan is a virtual means of personal financing. Keeping up with the booming digitalisation, most lenders offer these loans to eligible individuals. Typically, there are a few online-only-lenders that extend funds over the internet exclusively. However, with recurring demands, traditional lenders are also offering online loans to ensure optimum consumer convenience. 

An Overview Of Online Loans

Although online loans cover a wide range of financial products, they have some standard features that one should consider while opting for any of them. 

  • No end-use limitation
  • Saves a lot of time 
  • A one-click loan application process 
  • Prompt loan approval and disbursal 
  • Dedicated free-to-use financial tools like EMI calculator, loan amount calculator, etc. 

Exclusive

  • Lender-specific app to view account summary and pay instalments. 
  • An easy loan repayment process
  • 24/7 customer support 

While these are some of the general specifications of an online loan, there can be some deviations when it comes to different loan products. 

To make things more transparent, we can classify online loans into two different parts- online secured loans and online unsecured loans. While for each of these products, one can borrow money online, they have some distinct differences. 

  1. Unsecured Loans Online 

Personal loans and business loans are two of the most popular unsecured loans available online in India. In order to get these loans, one does not need to pledge any collateral. It also implies that the chance of loan default is higher for these options and, thus, lenders are stringent about eligibility parameters. Moreover, unsecured loans are associated with higher interest rates.

  1. Secured Loans Online 

On the other hand, financing facilities like a loan against property and gold loan are the most common examples of a secured online loan. Since here, one needs to pledge collateral to get the funds; the interest rate is comparatively lower than an unsecured online loan.

However, to make an informed decision, check the eligibility criteria in detail when searching for ‘online loan providers near me’. 

Online Loan Eligibility in India

The eligibility parameters differ to a great extent when it comes to two different loan segments. To be eligible for an online personal loan, one should have a steady source of income and a credit score of 750 and above. Besides, there are several other parameters that lenders check to approve this online loan, like FOIR, credit utilisation ratio and so on. 

Similarly, to meet the eligibility for an online loan for business, individuals have to have a specific business vintage, profit ratio and lender-defined minimum annual turnover. 

On the contrary, while secured loans like a loan against property come with comparatively lenient eligibility requirements, the mortgage type and the documents related to that often make it cumbersome to get the funds. To get a LAP, one has to submit all the details of the collateralised property that delays the loan process. 

Nevertheless, people can reduce these hassles substantially by opting for a gold loan online from Rupeek. It is not only a mere option among other instalments loans online but also offers much more than that. 

Specifications of Rupeek’s Online Gold Loan

Following are some of the features of a Rupeek gold loan that makes it one of the most on-demand secured e-financing option. 

  • Doorstep Services 

Although online loans eliminate the hassle of visiting a bank branch, there’s still a sense of uncertainty concerning the credibility of the lender, especially if it’s not a reputed bank. With our doorstep services, however, borrowers can rest easy.

Applicants do not need to visit any bank branch. But the entire processing, from KYC verification to online loan disbursement, is done in the applicant’s presence. Our company representative visits the applicant’s house or office to that end in just 30 minutes. 

  • Substantial Loan Value 

We offer the highest per gram value of the gold to ensure borrowers can make the most of their gold articles. Individuals can draw a fund of as high as Rs. 1.5 crores. On Rupeek’s website, they also can access our online gold loan calculator that will help them to determine the gold quantity needed for a particular loan quantum. 

It can further be an excellent online loan for self-employed persons in particular, as they do not have to provide any professional documents to get a fund his high. Moreover, since this online loan does not come with any pre-condition on end-use, one can utilise the funds for any purpose. 

  • Borrower-Friendly Repayment Options

Rupeek’s online gold loan interest rate starts at 0.49% per month, making it an affordable borrowing option to address any financial requirement. Hence, with Rupeek online gold loan, the interest payment is made much more manageable. 

Another benefit of availing a Rupeek gold loan is that individuals can choose a repayment option that suits their financial capacities the best. They are provided with two schemes that allow them to repay the amount monthly or clear off the entire with instalments any time during the tenure. 

  • Robust Gold Security 

The pledged gold is absolutely safe with Rupeek as we adopted the most advanced security protocols to ensure optimum gold security. The borrower receives the sanctioned sum and the company representative leaves only after that with the pledged gold items. Those are transported in a GPS-traceable carry bag and deposited in a nearby bank vault.

We also offer free-of-cost gold insurance cover so that one does not have to bear any loss due to inadvertent damage or loss of the ornaments during the tenure.

Besides these exclusive features, our existing customers can also leverage the overdraft facility against gold to address all sorts of urgent financial obligations.

Overdraft Facility Against Gold Offered By Rupeek

Access ready funds to deal with any emergency 24x7 with our gold overdraft facility, Rupeek Quick. Individuals can avail a credit line against gold and withdraw funds from the sanctioned limit any time.

It’s an excellent personal financing facility if you want to avoid high interest charges. We calculate interest only the utilised sum and not the total limit.

Thus, no matter your financial needs, Rupeek’s online gold loan can be an excellent choice. Our gold loan is not only affordable but also straightforward to avail along with a host of other customer-friendly benefits that make this option stand out from other online loan types.

Get an online gold loan today from Rupeek and use the funds instantly for any financial shortfall!

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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% 0.49%
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 to get an online loan in India?

First, you need to decide which loan you want to apply for and then compare the lenders available. Check the highest loan ceiling amount, interest rate, eligibility, tenure, additional charges, etc. Then complete the lender-specific loan application procedure.

  1. How can I get a Rupeek gold loan online?

Visit Rupeek website and enter your mobile number to apply for a gold loan. Rupeek representative will contact you soon. The loan manager will visit your home in 30 minutes. You will receive the funds in another 30 minutes after completion of due formalities.

  1. Does Rupeek accept all kinds of gold for their online loan?

No, we only accept gold pieces of jewellery. The quality of those ornaments should be above 18 carats. 

  1. What is the minimum amount I can get as an online loan from Rupeek?

You can get a minimum of Rs.15,000 from Rupeek as an online loan. 

  1. What are the documents required for a Rupeek online gold loan?

To be eligible for a Rupeek gold loan, you have to present KYC documents along with address proof, like utility bills/rent agreements. 

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