Payday Loan in Ahmedabad

Payday Loan in Ahmedabad

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.

Things To Know About Payday Loan Ahmedabad

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 –

  1. Quick Disbursal: Payday loan in Ahmedabad serves as a convenient funding avenue for its swift disbursal nature. Typically, it gets disbursed within a couple of hours and helps individuals meet any financial emergency.
  2. Collateral-Free: Being unsecured in nature, an emergency same day loan does not require any collateral hypothecation.
  3. Short DocumentationPayday loans online require potential borrowers to submit his/her income proof and KYC details to avail it.
  4. No End-Use RestrictionsCash advance loans have no limitations on usage. It means one can meet any number of financial needs.
  5. Single Instalment RepaymentCash loans online come with a single instalment payment option. It means borrowers need to pay interest and principal together at once.
  6. No Credit Check Required: A vital point to know about payday loan same day in Ahmedabad is that lenders do not perform any credit check to extend funds. Thus, one can avail it with a bad credit score as well.
  7. Loan amount: The loan amount of this financial product depends on an individual's monthly income. Usually, it is a portion of his/her monthly earning.

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.

Payday Loan In Ahmedabad – Know How They Work

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.

Gold Loans - A Robust Alternative

Compared to any unsecured mode of financing, gold loans offer better benefits. Here are some highlights –

  • The loan amount is typically high.
  • Interest rates are more affordable.
  • Eligibility criteria are lenient.
  • Minimal documentation.
  • Better repayment options.
  • Longer loan tenure.

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.

Rupeek – A Trusted Gold Loan Provider

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 –

  1. High Per-Gram Rate

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.

  1. Low Interest Rates And Better Repayment Terms

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.

  1. Easy Eligibility Criteria

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.

  1. Hassle-Free Loan Transfer Facility

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.

  1. Gold Overdraft Facility

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.

  1. Doorstep Services

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.

Localities Of Ahmedabad Where Rupeek Is Operational

Individuals residing in the following areas can get in touch with us to avail instant financial support -

  • Asarwa
  • Bhopal
  • Bapunagar
  • CTM Char Rasta
  • Chandkheda
  • Manek Chowk
  • Maninagar
  • Navrangpura
  • Naroda
  • Lal Darwaja
  • Khadia
  • Satellite Road
  • Sabarmati
  • Vastrapur

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!

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Benefits of Gold Loan over Payday Loan.
  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
  • 20 lakh
Comparision Parameters Payday Loan 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 apply for an online payday loan?

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.

  1. What are the payday loan eligibility norms that one needs to meet to avail it?

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.

  1. What is the purpose of a payday loan calculator?

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.

  1. How to get out of a debt trap?

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.

  1. How to apply for gold-backed funds from Rupeek?

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.

  1. Are there any additional charges on the foreclosure of Rupeek gold loans?

No, Rupeek does not levy any extra charges on foreclosure.

  1. What gold items are accepted by Rupeek?

Rupeek accepts any gold ornament of 18 carats and above to lend funds.

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