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Kochi is touted as Kerala's financial capital and is one of the more developed residential regions in South India. Top-class civic amenities, well-connected transport systems, numerous MNCs, and pleasant weather year-round make it a suitable location for job-seekers.
Cochin SEZ and Infopark have augmented employment opportunities tremendously. However, it has also translated to heightened living costs and posh standards of living. To keep up, individuals often turn to options like a payday loan in Kochi. However, one must be well aware of the pros and cons before applying for this financing facility.
Payday loans online are ultra-short-term loan variants that financiers offer to salaried individuals to help them cover expenses until they receive the next paycheque.
It comes with specific features like –
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The following table shows the eligibility requirements of a payday loan and the documents one must submit to substantiate those.
Eligibility Criteria |
Documents Required |
The borrower must be above 21 years |
Scanned copy of any KYC document |
Must be a permanent employee of an organisation |
Recent salary slips, company ID card, bank account statements |
He/she must be an Indian resident |
OVDs for KYC |
Specific financing companies may also ask for additional documents for the payday loan online apply process. However, individuals must be aware of the shortcomings that make it an unpopular choice of financing in some cases.
‘Due to its unsecured nature, this loan comes at a high rate of interest and excessive associated charges. People without knowledge of systematic saving can find it challenging to repay the balance within the short tenure. It increases the chances of falling into a debt trap. Moreover, a business owner needing a high loan amount may find this payday loan Kochi insufficient.
If you face a similar situation, we suggest switching to a secured loan form like a gold loan. This credit form comes at competitive interest rates and a high loan amount. In case your concern is to get funds instantly, you can turn to Rupeek instead of searching ‘quick payday loan near me’.
As a leading gold loan lender in Kochi, we are working tirelessly to offer our customers the best banking experience. Here are some benefits you receive by availing a loan from us.
Besides these, here are some of our services tailored just for you!
Applicants can select from a range of loan schemes. They can opt for traditional EMI repayment or clear the dues any time before the tenure ends.
Instead of exhausting your salary every month and taking a payday loan, you can avail a credit line against gold from us. Also known as Rupeek Quick, you can withdraw funds from the sanctioned limit as and when you need. You need to repay only what you have used and incur interest only on the expended amount.
Get a gold-backed cash advance loan up to Rs. 1.5 crores without stepping out of your home. Enjoy instant services after applying online. KYC verification, gold appraisal, and loan amount disbursal will take place in your presence, at your house, no matter where it is in Kochi.
Here is a list of localities in Kochi where our service is available.
Steer clear of the hefty interest charges of a payday loan in Cochin. Get a gold loan from us and save on interest while meeting all necessary expenses instantly. Download the app today!
You can check the preferred financial institution’s website or app to apply. Fill out the online application form and submit the required documents subsequently.
You can receive a payday loan if you have a low credit score, but the interest rate will be higher.
With our instant services, you can receive the funds within an hour of applying. A payday loan takes more or less an hour as well.
You must have a savings account to avail a payday loan. That’s where you will receive the loan amount.
Yes, Rupeek makes a month’s interest free for borrowers who refer our services. To avail this service, you have to share your referral code with friends and family. After they redirect and take a loan of at least Rs. 50000, both yours and that person’s one-month interest will be exempt.
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