Located on the banks of Sabarmati River, Gujarat's former capital is one of the leading industrial hubs of India. Ahmedabad is well-known around the world for its textile industry. In fact, India's first cotton mill was established in this city in 1861. Since then, the textile manufacturing industry has expanded rapidly.
Along with that, other sectors like automobile, gemstone and jewellery export are significant contributors to Ahmedabad's economy.
Ahmedabad's development has also increased the cost of living in this city. Individuals require a strong financial foothold to manage routine expenses, and after meeting those, one's disposable income may not suffice to meet any financial exigencies. In such cases, a payday loan in Ahmedabad can serve as an ideal option to meet requisite financial requirements.
As mentioned, instant cash loans like these are ideal to manage any number of financial emergencies. Following are few vital things that applicants must know about it, before applying –
Along with being aware of the features of a payday loan in Ahmedabad, one should also know how it works to have a clear idea before applying for it.
To understand how this financial product works, individuals can take note of the following example.
Aloke is a salaried professional, employed at XYZ Ltd. He is unfortunately faced with a medical emergency and is in urgent need of Rs. 30,000. However, he is still a week away from his salary date and has no liquid cash available. In a situation like this, payday loan can be a saviour.
Since his salary is just 7 days away, Aloke can opt for loan tenure of seven days with a principal amount of Rs. 10,000 at 1% daily interest. Therefore, Aloke's total outstanding after a week will be Rs. 10,000 + Rs. 700 = Rs. 10,700.
If anyone opts for longer loan tenure, the total interest amount will also increase accordingly.
The interest rate levied on a payday loan in Ahmadabad is considerably higher than other unsecured modes of credit. Resultantly, it becomes difficult for individuals to avail this financial product, and they search for alternatives.
In this regard, gold loans can serve as an ideal funding option. It offers similar benefits of a payday loan, but against more favourable terms.
Compared to any unsecured mode of financing, gold loans offer better benefits. Here are some highlights –
To make the most of these benefits, one needs to find a suitable lender. Rupeek, in this regard, is a renowned name, offering customer-friendly doorstep services, multiple loan repayment options, etc.
As a leading gold loan lender in India, Rupeek works extensively to increase customer convenience. The following features of Rupeek's gold loan promise to deliver a better borrowing experience –
The per-gram rate offered by us is one of the highest in this segment, and customers can use the gold loan calculator available on our website to learn more about it. Borrowers can, therefore, easily avail up to Rs. 1.5 crore against the value of the gold they provide.
The interest rate levied by us on loans against gold starts from 0.49% per month. Therefore, interest repayment with us is more affordable and imposes minimal liabilities on borrowers.
Moreover, to make repayment more accessible, we have introduced different plans. Here, one can opt for regular EMI payments, or choose to pay as per his/her convenience during or after the loan tenure.
The eligibility criteria to avail a gold loan from Rupeek requires applicants to be above 18 years and possess necessary KYC documents. However, we do not ask for any high credit score and additional documents to extend funds.
With our loan transfer system, borrowers can now save substantially on making repayments. The process is hassle-free, making it extremely convenient. Once an individual shares his/her current pledge card, our executive will guide him/her through the process.
Known as Rupeek Quick, our overdraft facility allows borrowers access to a pre-sanctioned credit limit from which they can withdraw funds, as and when required. The most significant benefit of this facility is that individuals need to pay interest only on the amount withdrawn, and until it is repaid, instead on the entire amount sanctioned. One can, therefore, save substantially with the Rupeek Quick facility.
With our first of its kind doorstep service, individuals can now avail funds without the hassle of visiting a branch. They can apply online, and our loan managers will visit their address to provide them with the required services.
Furthermore, our strong presence in notable places of Ahmedabad also helps to make our doorstep services more accessible to borrowers.
Individuals residing in the following areas can get in touch with us to avail instant financial support -
Payday loan in Ahmedabad is a perfect financing solution to meet any monetary emergency, but the related loan terms often make it challenging for potential borrowers to avail one. To bypass this hassle, one can opt for a gold loan, and enjoy better loan terms. Moreover, with Rupeek, they can enjoy industry-first benefits and have a more convenient borrowing experience.
So, stop searching for 'payday loan provider near me' and opt for a gold loan today!
You can use the official website of the lender or a dedicated payday loan app for this purpose. You can duly fill the form and upload necessary documents to complete this process.
The eligibility terms of a payday loan in Ahmedabad require an applicant to have a regular income source, preferably full-time employment. Since there is no credit check involved; one can avail a loan in minutes.
These calculators help individuals calculate the loan amount they are eligible to avail in seconds. Borrowers can also adjust different factors on them to find their required borrowing amount.
The easiest way to get out of a situation like this is to opt for debt consolidation. Here, individuals can calculate their total outstanding amount and get a new credit worth that amount. Therefore, instead of paying multiple loans at a time, they can focus on one. Instant approval gold loans offered by Rupeek at attractive terms can be a convenient option for debt consolidation.
You can apply online to get funds from Rupeek. Once you initiate the process by submitting your mobile number, a company executive will get back to you to learn about your requirements. Afterwards, loan managers will visit your address for document verification and jewellery evaluation.
No, Rupeek does not levy any extra charges on foreclosure.
Rupeek accepts any gold ornament of 18 carats and above to lend funds.
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