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Personal loans in Ahmedabad

Located on the banks of Sabarmati River in Gujarat, Ahmedabad lies 23 km away from the state capital of Gandhinagar. The Sardar Patel Stadium at Motera, Ahmedabad is the largest cricket stadium globally and bears testament to the city’s love for cricket. Once known as the ‘Manchester of the East’, the city has grown to be the second-largest cotton textile in India.

With a massive growth in automobile, IT, real estate and education sectors, Ahmedabad attracts a lot of students and young workers from other parts of India.

Resultantly, the cost of living here has also shot up in recent years. Due to that, sometimes it becomes exceedingly difficult for individuals to meet unprecedented events like medical emergencies and the likes. In that case, individuals in Ahmedabad can avail a personal loan to address various monetary crises and requirements.

Purpose of Taking a Personal Loan

A personal loan is unsecured, meaning banks or NBFCs do not demand collateral against the borrowed sum. By taking personal loans in Ahmedabad, individuals can remodel their house, meet any urgent medical expenses, opt for higher education, even purchase a phone or any electronic gadget, or fund a family vacation. Moreover, borrowers can consolidate their existing loans into one by availing a personal loan and save themselves the hassle of repaying multiple credits.

Personal Loan Eligibility

Before applying for a personal loan in Ahmedabad, applicants must fulfil specific eligibility criteria set by their preferred bank or NBFC. Some basic pointers that almost every lender looks for are:

  • Age
  • Salary
  • Income level
  • A credit score of 750 or above,
  • Employment history
  • Income stability
  • Repayment capacity

During application, prospective borrowers must submit some essential documents to further the procedure. This includes:

  • Proof of identity (Aadhaar card, Voter’s ID, Passport, Driving license or PAN card, etc.)
  • Proof of address (Utility bills of previous months, Aadhaar card or passport)
  • Income proof ( salary slip of the last 3 months and previous 6 months’ bank statements)
  • 2 passport-sized photographs.

Personal loans are not offered against any collateral or any asset. To mitigate any future defaults, lenders put special emphasis on credit score and credit report of applicants. That is why creditworthiness plays a crucial role to get approval for personal loans. Moreover, lenders often charge a higher personal loan interest rate on the borrowed amount owing to the risk they assume.

To avoid these inconveniences, individuals can opt for a gold-backed personal loan Ahmedabad, Gujarat.

Features of a Gold Loan

Over the past few years, the gold loan market has seen considerable growth in India as well as in Ahmedabad. One primary reason is it allows individuals to utilise the equity of their gold ornaments without actually selling it.

A gold-backed personal loan entails several other benefits, such as:

  • Faster Processing Time: Gold loans are secured, which reduces the need for stringent eligibility-checks or extensive documentation. Thus, it provides for faster processing of the loan.
  • Minimised Cost: As gold is taken as collateral, banks and NBFCs provide the loan at a reduced cost compared to unsecured personal loans.
  • Tenure: Borrowers looking to avoid a long-term liability can avail a gold loan. Within 4-6 months, borrowers can pay off the debts and release their valuables.

Once borrowers have made up their mind to avail a personal loan in Ahmedabad, the next crucial step involves choosing the right financial partner to rely on during their liquidity crisis. In this regard, Rupeek can help individuals with its industry-first gold loan features.

Benefits of a Rupeek Gold Loan

With our lending facility, prospective borrowers who are willing to take a personal loan in Ahmedabad can expect the following benefits discussed below:

  • Doorstep Service: Borrowers can enjoy an instant doorstep loan service in Ahmedabad with us. We complete the entire gold loan process, from KYC verification to fund disbursal, at the applicant’s home. It eliminates the risk of carrying one’s valuables to a lender’s branch.
  • Quick Disbursal: The entire process, from evaluation of gold to loan disbursal, takes only 45-60 minutes. We understand the urgency of borrowers when searching for “personal loan providers near me”, and thus, do not indulge in lengthy documentation or extensive processing time.
  • Minimal Documentation: We only require KYC documents and rental agreement or utility bills to approve a personal loan. Moreover, borrowers need not worry about a CIBIL Score of 750+ to secure a gold loan from Rupeek.
  • Highest LTV: Loan to Value ratio or LTV is the amount individuals get against their pledged gold. We offer the highest LTV up to 80%. Moreover, with our gold loan calculator, individuals can check the total loan amount they will be getting to make a strategic spending plan beforehand.
  • Lower Interest Rate: One of the prime benefits of availing a personal loan with us is our rate of interest which starts at 0.79% per month. This personal loan interest rate is lower than that of the traditional unsecured loans provided by banks and NBFCs.
  • Easy Repayment: We offer borrowers the flexibility to repay as per their convenience. To be precise, with our easy repayment procedure, borrowers can either pay monthly, or they can pay off the total amount at any time within 6 months.

Besides these, we also offer a credit line facility for individuals looking to secure a ready source of funds in Ahmedabad.

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Overdraft Facility Offered by Rupeek

For the existing borrowers, we have an overdraft facility known as ‘Rupeek Quick’. Through this facility, individuals can avail an extended credit line by pledging additional gold ornaments. They can access funds from the sanctioned limit anytime as per their financial requirements. Moreover, borrowers only need to pay interest on their utilised amount, which further reduces one’s interest burden.

Individuals looking to avail our services can do so easily since we are available in and around all the major locations in Ahmedabad.

Locality List in Ahmedabad Where Rupeek Operates

One can enjoy our services across the following locations in Ahmedabad –

  • Navrangpura
  • Asarwa
  • Bapunagar
  • Manek Chowk
  • Khadia
  • Maninagar
  • Sabarmati
  • Chandkheda
  • Vastrapur
  • Lal Darwaja
  • Naroda
  • Bhopal
  • Satellite road
  • CTM Char Rasta

It’s particularly because of the city-wide presence that we can offer doorstep service within 30 minutes to ensure you can address all your financial concerns timely. Apply for a personal loan in Ahmedabad against gold today and meet your financial goals with ease.

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Frequently asked questions

1. What are the minimum and maximum personal loan amounts I can get from Rupeek?

The minimum and maximum gold-backed business loan amounts are Rs.15000 and 1.5 crore, respectively.

2. Does Rupeek accept all gold items for a personal loan?

No, Rupeek does not accept items such as gold bars and coins. Only gold jewellery above 18 carats is accepted.

3. How fast can I get a gold-backed personal loan from Rupeek?

With Rupeek, you can get a gold-backed personal loan within 45-60 minutes.

4. What payment methods are available with Rupeek for repayment of a personal loan?

Rupeek offers several repayments methods. By using Rupeek website or Android App, borrowers can pay through internet banking, debit cards, UPI, and money transfer using RTGS & IMPS. 

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