Payday Loan in Lucknow

Payday Loan in Lucknow

Lucknow sports a promising tourism sector landmarked with heritage sites like Rumi Darwaza and Bada Imambara. Besides it, the handicraft, medical, aeronautic and manufacturing sectors are also vital to this city’s economy. Lucknow is home to many government service employees, besides comprising several large-scale IT companies like HCL Technologies and Tata Consultancy Services (TCS).

With more residents struggling to accomplish effective budget allocation through a month, payday loan in Lucknow is gaining increasing popularity as an instant external funding solution in Lucknow.

Why Do Individuals Seek Payday Loans?

Paydays loans are a type of ultra-short-term personal loan that allows users to meet their mid-month financial crises until the next salary is credited. These loans act as advance salary Lucknow and borrowers typically need to repay the due on their next payday. Some of the prominent features that make these financial products a widespread borrowing option are as follows:

  • Easy Availability: Money lenders in Lucknow ensure speedy approval and disbursal of such financial products, making them a suitable means of quick loan.
  • No Credit Information Required: Most payday loan apps like Dave sanction this type of credit without performing any credit history check, unlike other personal loans.
  • Zero End-use Restriction: A significant benefit of such loans is their convenient usability, allowing borrowers to meet all sorts of short-term fund requirements, planned or sudden.
  • No Security Required: Borrowers do not need to provide a collateral or guarantor as security to acquire such funds.

To avail these benefits, applicants need to conform to specific payday loan requirements.

Who Can Avail A Payday Loan In Lucknow?

Every payday loan company in Lucknow makes sure individuals availing a successful payday loan application are:

  • Residents of India
  • Aged over 18 years
  • Full-time salaried employees
  • Having total income matching the lender’s criteria
  • Owners of active bank accounts

Additionally, they also need to produce the following documents in support of their eligibility claims.

  • Proof of identity
  • Residential proof
  • Age proof
  • Employee ID card or certificate
  • Recent passport-sized photographs
  • Income proof (salary slips and bank account details)

Although these lenient requirements of a payday loan might persuade any loan-seeker to choose payday loan online apply, a persistent question for any borrower should be if it is a convenient borrowing option.

Are Payday Loans Worth It?

Despite relatively easy eligibility, reduced documentation, and instant availability, these financial products come with expensive borrowing costs. As compensation for the lack of security, lending institutions charge exorbitantly high payday loan interest rates that can go up to 730% p.a. Added to this are substantial processing charges up to 7% of the total amount sanctioned.

Such high charges and extremely short repayment tenure of 2-4 weeks, make it increasingly difficult for borrowers to make timely repayment. And once defaulted, a payday loan in Lucknow can impose hefty late repayment charges, eventually leading individuals into a debt trap.

If you are already contemplating looking for alternatives to avoid this vicious cycle, consider a gold loan. These secured loans make for more affordable, high-value funding. Additionally, flexible eligibility and minimal documentation make gold-backed loans the best bet for individuals seeking payday loan without salary slip.

Trading ‘payday loan near me’ searches for the best gold-backed funds provider in Lucknow?

Save your energy and avail the best gold loan offers from Rupeek Fintech.

Why Is Rupeek The Best Gold Loan Provider?

Since its entry into India 4 years ago, Rupeek has amassed the trust of over 1 lakh borrowers with a variety of loan schemes to suit every need. Following are some of its contrasting advantages over a payday loan in Lucknow.

  • With a longer loan tenure and convenient repayment options, pay off your loan at ease with EMIs or however you wish within the term.
  • Rupeek offers remarkably higher loan amounts than most other funding options and practices complete transparency with an online gold loan calculator. Finance a wide range of requirements with funds worth up to 80% of your gold’s current market value and flexible end-usage.
  • Enjoy emergency cash immediately with our unique doorstep loan services. Upon a successful loan request, complete verification with our loan manager at your residence, and get funds transferred instantly.
  • Individuals willing to shift existing gold loans can utilise Rupeek’s loan transfer facility by submitting their loan pledge card and supplementary documents and enjoy savings ash much as Rs. 12,377 per lakh on interest payment.
  • Existing Rupeek customers can also pledge additional gold to avail an extended gold credit line under Rupeek Quick and enjoy the benefits of gold loan overdraft.

Avail our best deals on gold loan from anywhere India, including Lucknow.

Where To Find Us In Lucknow?

Rupeek extends all its offers on gold loan besides a 30-minute instant disbursal in the following areas in Lucknow.

  • Raibareli Rd
  • Mubarakpur
  • LucknowChowk
  • Gomti Nagar
  • Alambagh
  • Charbagh
  • Cimap
  • QaisarBagh
  • Indira Nagar
  • Mohanlalganj
  • Jankipuram

Leave behind all worries of a deteriorating bank balance with piling debt of payday loan in Lucknow. Address all financial emergencies with Rupeek’s gold loan and avail the best offers and discounts on repayment.

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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. What is the maximum loan tenure offered by Rupeek?

Rupeek offers gold loans with repayment tenure of 6 months, which can be extended to a maximum of 12 months.

  1. Can I avail a payday loan with poor CIBIL score?

Yes, most payday loan providers do not check credit scores or repayment records before sanctioning cheque advance loans.

  1. How long does it take to receive a payday loan?

Generally, payday loans are disbursed quicker than other personal loans, mostly within the same day.

  1. Can I get a gold loan faster than a payday loan?

Whether you can get a gold loan faster than a payday loan depends on the lending institution. We sanction loans within 60 minutes of application if you set an appointment with our loan representative promptly post application.

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