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Kanchipuram is renowned nationally and globally for its textile industry, especially the Kanchipuram sarees. Agriculture is also a vital sector of its economy. Food processing, light machinery, electrical goods manufacturing industries are also essential in Kanchipuram.
Modernisation in recent years and wide-scale availability of phones has improved the lifestyle standards of individuals as well. Managing additional expenses when salary has run out is no longer a challenge because of financing options like a payday loan in Kanchipuram.
It is a short-term, unsecured cash advance loan that enables individuals to meet an array of expenses. Owing to its restriction-free usage, one can meet the following obligations –
Apart from zero end-use restriction, an emergency same day loan has the following features –
Along with these, the loan quantum of an instant cash loan depends on an individual’s monthly income. Also, individuals need to pay off the outstanding amount at one go when the borrower receives his/her next paycheque.
Besides, a payday loan in Kanchipuram is an expensive financing method because of its high interest rates. Financing costs can be quite excessive, especially if the loan is unpaid for weeks. That’s because interest is levied daily.
Borrowers can instead look for alternatives like gold loans. It offers better loan terms and rate of interest that makes the borrowing experience hassle-free and more affordable.
Borrowers can check the following table to learn the differences between them to make a sound choice.
Points of difference |
Payday loans |
Gold loans |
Required documents |
KYC and income proof |
Only KYC |
Interest calculation method |
It is calculated daily |
It is calculated monthly |
Loan quantum |
Depends on the borrower’s monthly income |
Depends on the pledged gold’s value |
Repayment tenure |
Short |
Comparatively long |
Repayment flexibility |
Rigid; shall be repaid at one go |
Flexible |
Based on this comparison, it is safe to say that gold loans can be a suitable alternative if someone needs emergency cash immediately. Hence, one can stop searching for ‘payday loan provider near me’ and start looking for gold loan providers. If their requirement is a loan in minutes, individuals can opt for Rupeek’s services.
Rupeek offers a suite of benefits that enable customers to have a better borrowing experience. Here are the prominent ones –
Apart from these, you can also enjoy the benefits of a gold loan overdraft facility with us.
The gold overdraft facility extended by us, known as Rupeek Quick, allows our existing customers to submit additional gold and get a credit line against it. Borrowers have the freedom to withdraw funds within the limit sanctioned at their will and pay interest only on the amount utilised. This facility can prove to be more beneficial as a cash advance loan in Kanchipuram.
Furthermore, our presence in the top localities of Kanchipuram allows us to offer quick services at the doorstep.
Although a payday loan in Kanchipuram is quick, exorbitant interest charges offset the monetary benefits it offers. In this regard, our gold loans can be an exceptional substitute as we provide funds within 60 minutes at rates as low as 0.79%.
It is a situation where individuals need to take additional credit to meet their current debts. Availing a payday loan to get out of another can often give rise to such a situation. One can consider a secured variant, like a gold loan, to that end.
You can apply for a Rupeek gold loan online by registering your mobile number on the website. Following your application, a company representative will contact you to know your requirements and further process it. Afterwards, loan managers will visit your address for document verification and gold jewellery evaluation.
A payday loan has negligible to nil impact on a person’s credit score. Lending companies do not report these loan activities to credit rating agencies.
Rupeek has a dedicated online payment portal that helps you to make necessary payments. Once you log in with the OTP, you can view your account summary, and make required payments.
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