Mysore

Personal Loan in Mysore

The city of Mysuru, or popularly known as Mysore has a rich cultural history and ample tourists attractions. Places like Mysore Palace, Brindavan Gardens, Sri Chamarajendra Zoological Gardens, and Chamundeshwari Temple, attract tourists from all over the country. Along with tourism, I.T. is a major contributor to this city’s economy. 

The economic growth of Mysore has also contributed significantly to the rising cost of living in this city. Hence, the need for a quick financial solution to bridge the economic shortfall has also increased. In this regard, a personal loan in Mysore offers individuals an option to mitigate such constraints without burning through their savings.

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How can Personal Loans help?

A personal loan in Mysore does not come with any restriction over the usage of funds, which provides freedom to borrowers, allowing them to use it for purposes such as –

  • Supporting medical expenses
  • Pursuing higher education
  • Debt consolidation
  • Paying for travel expenses
  • Making high-value purchases
  • Renovating house

Along with this, quick disbursal of a personal loan is helpful during any financial emergency. Certain NBFCs offer funds within a day or two.

However, before availing an online personal loan, one must fulfil stringent eligibility requirements. It includes the following –

  1. Credit score of more than 750
  2. Applicants must be at least 21 years old
  3. They must satisfy the monthly income criteria of lenders
  4. They must have work experience of more than one year

Fulfilling these personal loan eligibility criteria is not easy, particularly for new borrowers who do not boast of a substantial credit history. Lenders that offer an unsecured personal loan despite a lack of credit history or poor credit score might charge high interest rates, making repayment challenging.

Individuals can bypass this hassle by opting for a gold loan. Gold-backed personal financing options are secured in nature, and they ask for minimal eligibility requirements and have a more straightforward documentation process. Hence, availing funds is convenient.

What is the Difference between a Personal Loan and a Gold Loan?

Here is a comparison between gold and personal loans in Mysuru to help borrowers have a better idea about both –

Particulars

Gold loans

Personal loan

Loan type

Secured

Unsecured

Eligibility requirements

Lenient

Strict

Documentation process

Short and quick

Lengthy

What are the Features of a Rupeek Gold Loan?

Rupeek is one of the leading gold loan providers in this country, offering a variety of schemes that can help individuals find a solution, as per their financial requirements. Here are some of our top features that borrowers can enjoy.

  1. Doorstep Service

Rupeek is the one of the few lenders offering instant gold loan at the applicant’s doorstep. After you successfully apply for a personal loan in Mysore, our loan representative will be at your residence or office to complete the loan disbursal process.

  1. High Security

We use the highest possible security measures to transport and store the pledged gold articles. Our loan managers use GPS-enabled bags to carry the gold, and we store them in military-grade vaults. Additionally, these gold ornaments enjoy complimentary insurance cover during the tenure of the loan. Therefore, in case of any accident or theft, our customer’s financial interests remain safe.

  1. Highest Per Gram Rate

Rupeek offers one of the highest per gram rates. Borrowers can use the gold loan calculator on our website to check this rate and the gold quantity they need to submit to avail their desired amount.

  1. Balance Transfer Facility

We offer loan transfer facility to improve our customer experience further. Borrowers can transfer their existing gold-backed personal loan in Mysore to Rupeek and save up to Rs.12377 per lakh.

  1. Overdraft Facility

We also offer an overdraft facility, Rupeek Quick, to further ease the process of personal financing. Individuals in Mysore can take out a personal credit line against their gold ornaments and access funds from the sanctioned limit anytime, anywhere. What’s more, borrowers can save on interest considerably, as it’s only calculated on the utilised sum.

Along with these, availing an instant personal loan from Rupeek is more convenient due to our presence in major localities of Mysore.

Mysore Localities where Rupeek’s Services are Available

  • K.G Koppal
  • Kuvempunagar
  • Jayalakshmipuram
  • Udayagiri
  • Bannimantap
  • Hunsur
  • Periyapatna
  • Bylakuppe
  • Bettadapura
  • Vijayanagar
  • Gokulam
  • Saligrama
  • Saraswathipuram

Availing a personal loan in Mysore is now hassle-free with Rupeek offering customer-friendly schemes and doorstep service in 30 minutes. Individuals can now borrow funds for their financial emergencies within an hour at lowest interest rates and flexible repayment options. Apply now for a personal loan against gold today and enjoy exclusive benefits!

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Frequently asked questions

1. What is the interest rate on personal loan levied by Rupeek?

Rupeek’s personal loan interest rates start from 0.49% per month. You can check the different schemes we offer get a better understanding of the interest rates charged.

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

To avail a personal loan against gold from Rupeek, one needs to submit only the KYC documents and utility bill/rental agreement.

3. Can I avail a Rupeek gold-backed personal loan with gold bars?

No, you cannot avail a gold-backed personal loan from Rupeek with gold bars. Our lenders only accept gold jewellery.

4. What to look for when applying for a gold-backed personal loan?

Check factors like the LTV, interest rate, additional fees and charges, repayment options, and the security protocols that the lender follows.

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