Formerly identified as Calcutta, the “Cultural Capital of India” is home to institutions like Indian Science Congress Association, the National Library of India, and the Academy of Fine Arts. Kolkata comprises several historical structures like Rabindra Setu, Victoria Memorial, Vidyasagar Setu, and St. Paul’s Cathedral, drawing in a significant number of tourists every year. A prominent trade and financial hub, West Bengal’s capital city comprises prominent industries in the public and private sectors with companies like United Bank of India, Coal India Limited, Exide Industries, and ITC Limited, providing a major percentage of urban employment.
Living in one of the country‘s 4 major metropolitan cities can cause one’s financial demand to exceed his/her disposable income, spelling disaster during emergencies. In such situations, earning individuals may seek a payday loan in Kolkata to make ends meet.
Technically making up for advance salary Kolkata, payday loans are a type of personal loan offered by lending institutions to formally salaried individuals. The borrower needs to repay the sum on the next payday. Some of the prominent features of these financial products include:
To back their eligibility claims, applicants also need to provide specific documents when availing online payday loan.
If the features mentioned above of a payday loan in Kolkata are compelling you to get one, you might as well have prior knowledge of the application process.
Follow the given steps to avail payday loans online seamlessly.
Step 1: Approach a lender of your choice or download payday loan apps like Dave to create an account.
Step 2: Sign in to your account to check eligibility and fill in the payday loan application form with name, contact and other credentials.
Step3: Submit scanned copies of all necessary documents and select your required loan amount and repayment tenure.
Step 4: Once the lender verifies all documents, get the loan transferred to your account within the same day.
Now that you know about the prerequisites and benefits of such instant funds, you must also be aware of the difficulties they can land you in, before typing ‘payday loan near me’ into the search bar.
The eligibility requirements make it impossible for individuals to avail a payday loan without a salary slip. For those who make it to successful approval, cash advance loan can have undesirable consequences like:
Additionally, a small loan amount often fails to suffice for some extensive funding requirements that might arise unanticipated.
Wonder if there were a less intimidating substitute for such quick loan?
To your relief, there is! Address your emergency cash requirements with a gold loan, instead.
The following table lays a brief overview of how gold-backed funds can be contrastingly beneficial over a payday loan in Kolkata.
Parameters |
Payday Loan |
Gold-backed Loan |
Collateral |
Not required |
Items of gold jewellery |
Loan amount |
Low, based on the applicant’s salary |
Much higher, depending on gold’s current market value |
Repayment tenure |
Until the next payday, i.e., 2-4 weeks |
Relatively long |
Borrowing cost |
Expensive, including high interest rates, and additional charges. |
Much more affordable |
Eligibility |
Comparatively complex |
Applicants only need to be aged above 18 years and own adequate gold |
Documentation |
Lengthy |
Just KYC |
Rupeek Fintech offers gold loans suited for individuals with varying financial backgrounds, in addition to the above advantageous points. With various loan schemes, we have successfully helped over 1 lakh customers with viable financial assistance.
Some of the prominent features that make Rupeek’s gold-backed funds the best substitute for a payday loan in Kolkata are as follows.
Additionally, Rupeek also extends an exclusive gold overdraft facility to existing customers to make emergency cash immediately available.
If already a member of our reputable customer base, you can pledge some additional gold under Rupeek Quick to avail a line of credit that you can access at any time via our app. A prominent advantage of this gold credit line facility is that borrowers only need to pay interest on the withdrawn amount, instead of the entire credit limit, unlike payday loans. Plus, it facilitates hassle-free funds without further documentation.
Apply for Rupeek gold-backed funds from anywhere across India, including your hometown, for unique benefits over a payday loan in Kolkata.
Here is a list of some of the most prominent localities in Kolkata Rupeek operates in.
Bridge the month-end gap in cash flow with a gold loan from Rupeek. Visit our website to place a loan request or contact us for more details.
If you feel a fake payday loan provider has deceived you, visit reportfraud.ftc.gov and follow instructions to file a complaint with the FTC.
Yes, payday loan companies do not mandate any security to avail such emergency funds.
The annual percentage rate of cash advance loan interest can vary across lending institutions. It also depends on the borrower’s eligibility and repayment tenure, but on an average, can range up to 730%.
Kindly contact our customer support team to help us update your modified contact details in our database.
Rupeek offers funds up to Rs. 1.5 crores against gold jewellery. You can also take a loan as low as Rs. 15000 to meet small-ticket expenses.
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