Bangalore

Personal Loan in Bangalore

Bangalore, often touted as India’s Silicon Valley and also the Garden City of India is one of the nation’s major economic hubs. The Bengaluru Innovation Report 2019 revealed that Karnataka’s capital would become the fastest growing city in the world within 15 years, and its GDP is estimated to grow at 8.5% until 2035. 

Migrants comprise nearly 70% of the city’s population, of which graduates and post-graduates constitute the highest share due to the ample employment opportunities present here. Resultantly, this has driven up the cost of living in Bangalore considerably over the years. This factor leaves individuals with little disposable income to undertake big-ticket or unusual expenses. That’s why several people in Bangalore often resort to a personal loan to see to defray such costs.

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What are the Features of a Personal Loan in Bangalore?

Following are some of the crucial features of personal loan in Bangalore

  • Loan Value 

Most lenders offer a loan amount of up to Rs.50 lakh to those with proper personal loan eligibility

  • Interest Rates 

Personal loan interest rates generally start from 8% and can go up to 24% and onwards. The applicable interest rate of a personal loan depends on several factors like the borrower’s credit score, income, employment stability, etc. 

  • Loan Tenure 

The tenure of a personal loan in Bangalore generally extends up to 60 months. Hence, prospective borrowers must plan their repayment judiciously to ensure efficient repayment sans hiccups.

  • Eligibility 

Individuals need to fulfil several eligibility criteria to get an instant personal loan. While meeting the eligibility criteria is mandatory for all credit facilities, its importance increases ten-fold for unsecured loans like a personal loan. 

Therefore, willing individuals need to check the lender-specific criteria while searching for “personal loan providers near me”. It generally includes 750+ credit score, income above Rs. 25000, a steady repayment history, stable income source, etc.

  • Documentation 

It is an integral part of a loan application process. Individuals need to submit multiple documents to prove their credibility to avail a personal loan in Bangalore

Mainly due to these stringent requirements and high interest rates, not everyone can avail this financing facility. In such cases, individuals can consider Rupeek gold loan as an alternative. 

Prospective borrowers can not only get the funds with less hassle but also apply for a higher amount to meet large-ticket expenses efficiently with a gold loan offered by Rupeek. They can also use our gold loan calculator to estimate the amount they can take out. Besides these, individuals can also enjoy a host of other benefits with Rupeek.

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What Does Rupeek Gold Loan Offer?

Here’s a glimpse of the critical features of our gold loan facility: 

  • Robust Gold Security 

We follow a robust security protocol to ensure optimal safety of the pledge gold items. After collecting the gold, our loan manager carries the gold in a GPS-traceable bag to the nearest bank vault. We also offer complimentary door-to-door insurance of the pledged gold for the entire tenure. 

During the release of the gold also, the same procedure is followed. 

  • Highest Per Gram Rate 

Another significant advantage borrowers enjoy with us is our offering of the highest per gram rate. Individuals can acquire a high loan value of up to Rs. 1.5 crore against their pledged gold articles. 

  • Lowest Interest Rate

If you are looking for the lowest personal loan interest rates, Rupeek gold can be your best bet. We offer loans starting at just 0.49% per month. Borrowers can also save a substantial amount on interest payment since the loan tenure is shorter than a personal loan. 

  • Convenient Repayment Structure 

Individuals can choose a repayment schedule based on their financial capacity, unlike a traditional personal loan that requires one to pay monthly EMIs. They can either repay the amount every month throughout the tenure or repay the entire amount via a single bullet payment option. 

  • Minimal Documentation 

The only documents required for a gold loan are KYC documents and utility bills or rental agreement. Moreover, the verification process takes place at the applicant’s residence.

  • Instant Approval and Disbursal 

The approval and disbursal take around 45 – 60 minutes via our doorstep services. This lets borrowers meet urgent financial obligations efficiently.

For further convenience concerning immediate mitigation of emergencies, borrowers can utilise our extended credit line against gold facility. 

What is a Gold Loan Overdraft Facility?

Besides regular gold loan schemes, we also offer a gold loan overdraft facility, called Rupeek Quick. Customers can secure funds on top of their principal borrowing by pledging additional gold items through this facility. 

One does not need to submit any additional documents to avail this credit line. Moreover, we approve and disburse the amount directly to their wallet so that they can use the funds for any short-term, emergency purposes. Another USP of this facility is that they only need to pay interest on the amount withdrawn or utilised. 

Furthermore, our presence across the major localities of Bangalore makes it simpler and quicker for individuals to avail our services.

Rupeek Bangalore Location List

We offer our facilities in and around the following localities of Bangalore –

  1. Koramangala
  2. HSR Layout
  3. Electronics city
  4. Yelahanka
  5. Whitefield
  6. Banashankari
  7. Bommanahalli
  8. Bannerghatta
  9. Sampangi Rama Nagar
  10. Hoskote
  11. Hal old airport road
  12. Bellandur
  13. Nelamangala
  14. Banaswadi
  15. JP Nagar

You can get an instant online gold loan at your doorstep within 30 minutes with us at Rupeek. It ensures that you don’t have to wait for long to get funds during an emergency. 

Apply for a Rupeek gold loan today and meet your expenses timely! 

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Frequently asked questions

1. What is the maximum LTV available with Rupeek?

Depending on the gold’s purity and weight, individuals can avail funds up to 80% of their gold’s value with us.

2. What are the eligibility criteria for a Rupeek gold-backed personal loan?

Any person of 18 years and above with sufficient gold is eligible for a personal loan from Rupeek. Along with that, one also needs to submit KYC documents to satisfy the eligibility requirements. 

3. What credit score is needed to avail a Rupeek gold loan?

You don’t need a credit score to avail a Rupeek gold loan.

4. Does Rupeek have any rebate program on a personal loan against gold?

Yes, Rupeek offers rebates on regular repayment of the loan. The rebate amount directly depends on the payment frequency.

6. How to make part-payment for Rupeek gold-backed personal loan?

Borrowers can make the part-payment of their gold loan anytime, by logging into their Rupeek account. Then choose “part payment” as repayment option and complete the transaction using any online payment mode. 

The part-payment amount can be anywhere between the monthly interest and less than the full-closure amount. 

7. Does Rupeek accept gold-plated jewellery to sanction a loan for private use?

No, Rupeek currently accepts gold jewellery of 18 carats and above to sanction a loan for personal use.

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