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Personal loans in Hyderabad

Hyderabad is the capital of Telangana and the state’s largest and most populous city. It is also a significant tourist destination owing to locations like Charminar, Hussain Sagar, and the Qutb Shahi tombs.

Over the years, Hyderabad has emerged as a crucial economic hub, particularly because of the recent I.T. boom there. According to the 7th edition of City Momentum Index, Hyderabad bagged the first position in regards to technological advancements.

Along with such developments, the cost of living in Hyderabad has also increased considerably in recent years. To that end, individuals in Hyderabad can avail a personal loan to meet large-scale or unusual expenses.

Why Personal Loan?

Here are some notable features of a personal loan–

  1. No Restriction on Usage

Borrowers can use a personal loan to meet an array of expenses since it does not involve any end-use restriction.

  1. Flexible Tenure

Lenders offer a repayment tenure ranging from 12 – 60 months. Individuals can use a personal loan calculator to figure out their EMIs within seconds to ensure an informed decision.

  1. Loan Amount

The loan amount of any personal loan in Hyderabad depends on that individual’s eligibility. Borrowers with better eligibility can avail more funds than others.

  1. No Collateral Required

Individuals do not need to provide any collateral to avail a traditional personal loan. However, they must fulfil the eligibility criteria and submit all the necessary documents to qualify for this financing option.

Personal Loan: Eligibility

To successfully avail an online personal loan, one needs to fulfil the respective lender’s eligibility criteria. Here is a table containing relevant details –

Sl. No.

Criteria

Requirements

1

Age

Applicants must be above 21 years

2

Employment type

Both salaried and self-employed

3

Monthly income

According to the requirement of the lender

4

Work experience

At least 1 year

5

Credit score

750+

Personal Loan: Documents Required

One needs to keep the following documents handy during personal loan apply

  • KYC documents
  • Address proof
  • Income proof (salary slip, ITR documents)
  • Employee ID card, if required

Individuals in Hyderabad who are new to credit or ones with a low credit score might find it difficult to avail an unsecured personal loan due to the rigid eligibility criteria followed by lenders. Plus, the higher personal loan interest rates and long-term liability of this financing option often make it difficult for borrowers to service the loan.

Confused? Thinking of a solution? Stop worrying and choose gold loans.

How does a Gold Loan Work?

A gold loan is a financial product where individuals can pledge their gold ornaments to avail funds against their value. It allows individuals to manage their financial requirements without any hiccups. The popularity of this option has increased steadily over the years, owing to its customer-friendly benefits.

Benefits of a Gold-Backed Personal Loan in Hyderabad

Here are some notable features of gold loans that make them a unique financial product –

  1. Affordable Cost of Borrowing

Since it is a secured mode of credit, the cost of borrowing for a gold loan is comparatively lower than a personal loan. Resultantly, the EMIs become more affordable, and borrowers find it easier to service the loan. -

  1. Flexible Eligibility Requirements

Typically, a gold-backed personal loan’s eligibility requirements are lenient, especially due to its secured nature. Individuals with an unimpressive credit score can also avail financial assistance via this loan.

  1. Quick Disbursal

Owing to less stringent eligibility requirements, the loan application and disbursal process of a personal loan in Hyderabad against gold is swifter and quicker.

With the introduction of gold-backed personal loan apply online process, availing funds is not a hassle. However, one must opt for a reliable lender to optimise their benefits, and Rupeek stands out in that regard.

Advantages of a Rupeek Gold Loan

We offer a host of industry-first benefits and customised repayment options for a convenient and affordable borrowing experience.

Here are some notable features of a Rupeek gold loan –

  1. Doorstep Service

Now, individuals can avail a loan from the comfort of their home with our doorstep service. Following the online application process, loan managers will visit the applicant’s residence with a gold appraisal kit. Once the gold evaluation and KYC verification are complete, borrowers will receive funds in their account within a few minutes.

  1. Highest LTV Ratio

We offer the highest per gram rate. Based on the purity of gold ornaments, individuals can avail up to 80% of the total value of their pledged gold.

Individuals can use the gold loan calculator to check the current per gram ratio, and the amount of gold they need to submit to secure their desired amount.

  1. Lowest Interest Rate

Personal loan interest rate levied by Rupeek is one of the lowest in this industry. It starts at 0.79% per month, ensuring affordable interest payment.

  1. Repayment Flexibility

They can opt for traditional EMIs, or they can repay the entire outstanding amount in a single bullet payment method after the tenure. It becomes easier for borrowers to service the loan since they can choose any scheme as per their financial convenience.

  1. Credit Line Facility

With the introduction of Rupeek Quick, individuals can now have access to funds anytime, anywhere. It allows borrowers to take out a credit line against their gold ornaments. They can withdraw funds as per their requirements from the sanctioned limit, and only pay interest on the withdrawn amount.

This facility is mostly favourable for entrepreneurs who are planning to avail a personal loan to finance any business expenditure. It’s also ideal for addressing any sort of urgent obligation.

  1. High Security

Rupeek follows strict security protocols across the board. Our loan managers use a GPS-enabled bag to carry the pledged gold items. We store the items in high-security vaults. Plus, the gold items are insured during the entire loan tenure.

Besides these benefits, individuals can also enjoy instant service with Rupeek because of our presence across all the top localities in Hyderabad.

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Rupeek: List of Locations in Hyderabad

People can access our services from the following locations in Hyderabad:

  • Secunderabad
  • Banjara Hills
  • Kukatpally
  • Jubilee Hills
  • Begum Bazar
  • Vikarabad
  • Falaknuma
  • Begumpet
  • Golconda
  • Khairatabad
  • Himayathnagar
  • Miyapur
  • Chandanagar
  • Bowenpally
  • Ghatkesar
  • Sanjeev Reddy Nagar
  • Balnagar
  • Amberpet
  • Himayat Sagar
  • Erragadda
  • Somajiguda
  • Shamirpet
  • Yousufguda
  • Sainikpuri
  • Musheerabad
  • Alwal
  • Tarnaka
  • Bahadurpura
  • Gandhinagar
  • Film Nagar

Individuals searching for a “personal loan lender near me” can reach out to us to secure a loan for their personal loan needs instantly. Our company representative will be at your doorstep within 30 minutes from application, ensuring you can meet all your financial requirements promptly.

Contact us at Rupeek today to avail the best-in-class personal loan features.

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Frequently asked questions

1. How to apply for a gold-backed personal loan from Rupeek?

It can be done in three easy steps. Visit our website or app, or give us a call. Our loan manager will arrive at your preferred location within 30 minutes for KYC verification and gold appraisal.

2. How to avail rebate on repayment of my personal loan with Rupeek?

Rupeek offers a rebate on regular repayments. The rebate amount depends on the repayment frequency. Individuals can check our website for more information or contact our customer support portal.

3. Can I transfer my existing gold-backed personal loan in Hyderabad to Rupeek?

Yes, there is a balance transfer facility available with Rupeek. The process is hassle-free and lets you save Rs.12377 per lakh. Simply contact us, and we will guide you through the process.

4. What is the maximum amount I can avail as a personal loan against gold from Rupeek?

You can avail up to Rs.1.5 crore as a personal loan against gold from Rupeek. The minimum amount you can take out as a gold loan is Rs.15000.

6. What are the documents required to avail a personal loan from Rupeek?

One can easily avail a gold-backed personal loan by submitting only KYC documents and utility bills/rental agreements.

7. Can I avail a personal loan from Rupeek if my credit score is less than 700?

Yes, you can avail funds even with a credit score below 700. Your credit score does not impact the eligibility for a gold-backed personal loan.

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