Payday Loan in Noida

New Okhla Industrial Development Authority's planned city, popularly known as Noida, is one of Delhi's satellite cities. Located in Uttar Pradesh, this city is known for its lush greenery and impressive infrastructure. It is home to great architectural marvels like Rashtriya Dalit Prerna Sthal and Green Garden, Supernova Spira, Amity University, etc.

Noida is a hub for mobile app and software companies, with a presence of giants like Samsung, Arm Holdings, Microsoft, Barclays and several more. As of 2020, it has less than 10 lakh people residing there, majority of whom are employees from these companies. One of the primary reasons for the population there being so low is the city's high standards of living. Thus, most salaried individuals find themselves opting for a payday loan in Noida every time they face a financial emergency.

These are a type of personal loan that one can avail through a mobile app. They are often called microloans for their short-term characteristics and nominal amount. When in need of immediate funding, salaried employees can use these as an advance loan Noida and pay for their expenses.

All one needs to do is download the mobile application of their preferred lender and fill in the required fields. Once they have provided all the necessary details and attached required documents, the loan amount is credited instantly to their bank account.

Though a payday loan in Noida might seem like a very convenient credit option, these have several disadvantages. These negative aspects of this loan can be so severe that one might even get caught up in a never-ending debt trap. Thus, it would be wiser to stop searching for ‘payday loan lender near me’ and opt for a better alternative like a gold loan.

A gold loan is more advantageous than payday loans in numerous aspects and offers other benefits as well.

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The following table illustrates the most significant differences between the two loan types -

	Payday Loan	Gold Loan
Required documents	Lenders ask for documents like income proof and letter from the employer along with the KYC documents.	The only piece of document one requires is their KYC papers.
Eligibility requirement	To opt for a payday loan in Noida, one needs to have a regular income source, an active current account, etc.	If you are 18 years or older, you can avail a gold loan.
Tenure	It ranges from one to three months.	The tenure offered is usually up to 6 months.
Loan amount	Individuals cannot avail a high amount for these payday loans online, as they are calculated based on their monthly salary.	Borrowers can avail a substantial amount from a gold loan. It is because its value depends on the amount of gold they pledge.
Rate of interest	It is charged daily, and the percentage fluctuates frequently. Due to this, one might end up incurring a pretty hefty interest amount.	One does not lose a lot of money by paying interest as they are charged monthly, and the percentage is also nominal.

A gold loan is far better than a payday loan in Noida, and if you avail it from a reliable lender, these benefits can be doubled. At Rupeek we have curated exclusive facilities and features to provide the most convenient gold-backed financial facilities to our customers.

Our loan product has unique features that contribute to its borrower-friendly aspect. We have curated these benefits to make our loans a solution and not another problem. With us, you can enjoy -

Gold Credit Line – When you opt for our overdraft facility called Rupeek Quick, you get an extended credit line. With its help, you can withdraw a section from your approved amount as per your convenience, and the interest will be charged only on the amount you have used, and until the time you repay it.
Approval Within 60 Minutes – Our credit product can also be classified as a quick loan as it does no take more than an hour to get approved and disbursed.
Easy Repayment Methods – The repayment schemes we offer are also extremely beneficial as one can opt for different methods to repay, such as single bullet payment, interest pre-payment, etc. However, if you feel comfortable with standard EMIs, you can repay your loan that way, as well.

These are only a fraction of all that we offer with our gold-backed cash loans online. Besides, we also take care of your comfort by offering a doorstep loan service when you apply for our services. Currently, we operate in all the significant parts of the city, and we are constantly trying to place our representatives in more locations.

In Noida, you will find our representatives and partner banks in the following locations -

Dadri
Greater Noida
Sec 16 Noida
Sec 122 Noida
Gurjinder Vihar
Sector 30 Noida
Sec 27 Noida
Phase-II
Sec 12 Noida
Sec 128 Noida
Rabupura
Maharshi Nagar
Sector 125 Noida
Sec34 Noida

A payday loan in Noida will only consume what you earn and leave you in excessive debt. It is recommended to stay clear from availing such facilities, especially when alternatives like gold loans are readily available. If you require urgent funds, apply for a Rupeek gold loan instead.

Comparision Parameters	Payday Loan	Gold Loan
Interest Rate	2.39%	0.79%
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	-