Chennai, or formerly known as Madras, is located on the Coromandel coast of Bay of Bengal. The capital of Tamil Nadu, Chennai is one of the largest economic, cultural and educational centres of South India. The city’s strong presence in automobile, healthcare sectors has earned it the badge of ‘Detroit of Asia’ and India’s health capital’.
Moreover, growth in Information Technology, hardware manufacturing, real estate and the retail industry has attracted people from the other parts of India as well.
With the best educational and other facilities and the status of the safest city in India, Chennai’s cost of living has upgraded in the past few years. The thriving economy involves major young workforce, and while the metropolitan cities like Chennai offer higher salaries, various necessities and demands seem to encumber a smooth living even with a handsome salary or income in these cities. To cover expenditures, both small and large, individuals in Chennai can avail a personal loan.
Personal loans are unsecured loans taken for a short or mid-term and offered by banks and NBFCs to fund personal expenses and needs. Personal loans enable borrowers to meet emergency cash shortfalls, and as it entails no-end use restriction, individuals possess the liberty to spend the money without being monitored. Various purposes constitute the need for a personal loan in Chennai. A personal loan helps:
As personal loans are unsecured ones and lenders do not pledge anything as collateral, individuals need to fulfil rigid eligibility criteria to avail one. The eligibility criteria vary with each bank and NBFCs. The factors which are generally taken into consideration include:
After fulfilling the eligibility criteria, applicants need to provide some key documents while applying for a personal loan in Chennai.
(For salaried individuals) - Salary slip/ Bank account statement/ Form 16
(For self-employed individuals) - Previous year’s ITR/ P&L Statement and Balance sheet/ Bank account statement.
Due to rigid eligibility criteria and extensive documentation process, individuals in Chennai might find it difficult to avail a personal loan. Lenders that do offer unsecured loans on simpler terms charge exorbitant personal loan interest rates.
Thus, individuals can turn to alternative options, like a gold loan, to bypass these issues.
People living in Chennai who possess gold ornaments but lack the required CIBIL Score or documents can easily utilise those to overcome any sudden cash shortfall with a gold loan. A gold-backed personal loan can be thought of as an alternative to personal loan for various reasons, such as:
The presence of various personal loan providers in Chennai often baffles borrowers during an urgent financial requirement. However, the right choice during their trying time may prove beneficial later during the repayment period. To that end, borrowers can turn to Rupeek to see to their monetary obligations.
Individuals can enjoy the following benefits with us:
Our financial services have stretched in every nook and corner of India. Therefore, Chennaities need not worry when faced with any medical emergency or miss any higher educational offer with us standing beside them.
Borrowers who are looking for ‘gold-backed personal loan provider near me’ can find our financial services in the following areas,
To meet ends in metropolitan cities like Chennai can become troublesome. Moreover, the demands of modern life along with unprecedented events, can thrust individuals into financial crisis and compel them to turn to savings to overcome various adversities. In cases like this, gold-backed personal loan in Chennai from our financial services at Rupeek can save individuals from additional agony.
Only KYC documents including any of the Aadhar Card, Voter Card, Pan Card, Passport, Driving License. Also, you have to provide utility bills, lease agreement of local address as address proof supported by any of these document.
Rupeek offers several repayments methods. By using Rupeek website or Android App, borrowers can pay through Internet Banking, Debit Cards, UPI, Money transfer using RTGS, IMPS.
With Rupeek, you can get a gold-backed personal loan within 40-60 minutes.
No. Rupeek does not accept all gold items such as gold bars and coins. Only gold jewellery above 18 carats is accepted.
Anyone above 18 can apply for a gold-backed personal loan from Rupeek.
Three processes go into applying a gold loan for personal purpose. At first, individuals need to request a loan from the Rupeek website by clicking on apply now option or entering the phone number. Then they have to complete the KYC documentation and gold valuation process at their home. After that, they can get the money transferred to the account.
The minimum and maximum gold-backed business loan amount are RS.50 lakhs and 1.5 Crore respectively.
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