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Personal loans in Faridabad

Situated in the National Capital Region, Faridabad is the most populous city in Haryana. The major attraction in Faridabad includes places and malls like Raja Nahar Singh Palace, Surajkund Lake, Badkhal Lake, and Crown Interioz Mall.

Reckoned as the eighth-fastest growing city globally, Faridabad is a leading industrial hub in Haryana. The recently established residential and industrial part of Faridabad, known as Greater Faridabad, stands testimonial to the expanding population as well as their growing needs. Resultantly, to comply with a rising standard of living, more and more people in Faridabad are opting for a personal loan.

Purpose of Availing a Personal Loan

Since a personal loan in Faridabad does not entail end-use restriction, borrowers can use it to address any number of monetary obligations. Some of the common ways a person uses this financing option are –

  • Cover emergency medical expenses
  • Finance a child’s higher education
  • Buy gadgets
  • Purchase home appliances
  • Manage wedding expenses
  • Home renovation
  • Debt consolidation

Personal Loan Eligibility and Documents

To get approval of a personal loan in Faridabad, applicants must fulfil specific eligibility criteria. The essential factors that almost all banks and NBFCs check include, age, income level, place of residence, CIBIL Score of 750 or above, credit and employment history, and the repayment capacity of the individual. Applicants must also furnish their KYC documents and income proof to apply for a personal loan.

As personal loans are unsecured in most cases, banks and NBFCs set stringent eligibility criteria and lengthy documentation to minimise the risk of any future loss. Personal loan interest rates are generally high for that reason as well. Thus, individuals looking for quick and hassle-free financing may consider a gold loan for their personal needs.

Gold Loan – Benefits

As gold loans are secured in nature, they come with numerous beneficial features. A detailed comparison between a personal loan and gold-backed personal loan will help borrowers to understand the underlying benefits of the latter.

Particulars

 Personal loan

Gold-backed personal loan

Loan type

Unsecured

Secured

Eligibility criteria

Stringent

Relaxed

Documentation

Lengthy

Simple

CIBIL Score

750 or above

Not required

Tenure

1-5 years

4-6 months

Besides these standard benefits, individuals can enjoy a host of other customer-friendly benefits with us at Rupeek.

Take a look!

Advantages of a Rupeek Gold Loan

Prospective borrowers can expect the following features and benefits with Rupeek:

  • Doorstep Service: Borrowers unwilling to risk their valuables by taking it outside and who want to complete the entire process from the comfort of their home, our doorstep instant gold loan services are perfect for them.
  • Minimal Documentation: Availing personal financing becomes a lot easier when it involves lesser documents. That is why we have set a minimal documentation process to ensure fund disbursal within just an hour.
  • Lower Interest Rate: Our interest rate starts at 0.79% per month. With such a lower personal loan interest rate, borrowers can easily manage the interest payment. Also, it helps borrowers to curtail down the overall cost of borrowing.
  • Highest LTV: Loan to Value ratio is the amount borrowers get against their pledged gold. With us, individuals can enjoy the highest LTV up to 80%. Also, by using a gold loan calculator, individuals can evaluate the sum for which they’re eligible. Moreover, they can check how much gold is required to get a certain loan amount.
  • Gold Credit Line: Borrowers can secure a sizeable credit line against their gold’s value with our exclusive facility, ‘Rupeek Quick’. It lets borrowers withdraw cash any time from the sanctioned limit. They can also avail the benefit of paying interest only on the utilised money through this facility.

What’s more, our financial services are well available from all major locations in Faridabad. Thus, individuals need not look any further for their financial needs.

Rupeek’s Availability in Faridabad

Here’s a list of localities where one can avail our services in Faridabad –

  • Ballabgarh
  • Faridabad Sector 16
  • Faridabad Sector 3
  • Faridabad Sector 7
  • Faridabad Sector 15
  • Faridabad Sector 29
  • Faridabad Sector 8
  • Faridabad Sector 48
  • Faridabad New Industrial Town
  • Faridabad Sector 9
  • Jawahar Colony
  • Greater Faridabad

Conclude your search for a ‘gold-backed instant personal loan provider near me’ with our financial services at Rupeek. Get in touch with us today for assistance or any query that you may have.

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Frequently asked questions

1. What payment methods do Rupeek offer for a gold-backed personal loan?

We offer various repayment methods. Individuals can opt for money transfer using RTGS or IMPS, UPI, internet banking, or debit card to repay their loan via our online portal. 

2. Does Rupeek accept gold bars for a personal loan?

No, Rupeek does not accept gold bars and coins. Only gold jewellery above 18 carats or above is admitted as collateral.

3. Is a CIBIL score of 650 enough for a personal loan in Faridabad?

A credit score of 650 may not qualify you for a collateral-free personal loan. However, it is sufficient for a personal loan against gold.

4. What are the maximum and minimum personal loan limits with Rupeek?

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

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