Famous for historical structures like Qila Mubarak and Sheesh Mahal, Patiala is a notable tourist spot in Punjab. The city is a significant trade centre with manufacturing, weaving, and cotton as its prominent industries, particularly renowned for the world-famous Patiala pants. The fourth-largest city of Punjab also houses several academic institutions.
Naturally, living costs in Patiala has also surged owing to the massive influx of students and professionals that migrate to this city every year. People in Patiala can, thus, opt for a personal loan to meet large-ticket and unplanned expenses instead of exhausting their savings.
A personal loan in Patiala does not come with any end-use restriction. Hence, borrowers can use this financing option to address any number of their financial concerns. Some of its common uses are –
Besides, a personal loan is typically unsecured, which saves borrowers from committing an asset. But, it’s also the reason why lending institutions need borrowers to satisfy stringent criteria to qualify for a personal loan.
Applicants must satisfy the following parameters to successfully avail an online personal loan.
Borrowers must also satisfy the income level set by the financial institution to qualify for a personal loan with them.
Additionally, applicants must also submit necessary documents for ID proof, address proof, and income proof that include –
Moreover, personal loan interest rates can go up to 36%, based on an individual’s eligibility. Thus, it can be a deterrent for individuals with a poor credit history or an unstable source of income. For uninterrupted cash flow in such circumstances, the gold loan comes as an excellent substitute for a personal loan in Patiala.
Because this personal financing option is backed by gold, the eligibility criteria and documentation process are much more relaxed. Also, the interest rates charged are relatively lower than that of an unsecured personal loan due to the same reason.
But, these are the standard benefits of a gold loan over a personal loan. To maximise your benefits, you may want to select a lending institution with features like high LTV, wide network coverage, etc. when searching for a “personal loan provider near me”. To that end, one can consider Rupeek’s gold-backed personal loan in Patiala, Punjab.
Besides simple personal loan eligibility criteria and minimal documentation, we extend the following benefits to our customers –
Additionally, we also offer an exclusive gold overdraft facility, Rupeek Quick, to our existing customers to provide them with easy access to emergency funds.
Rupeek Quick allows individuals with an ongoing loan with us to avail an extended credit line by pledging additional gold jewellery. The greatest advantage of this facility is that no additional documents need submitting since credit is sanctioned on top of an existing loan, and you only pay interest on the borrowed amount, thereby saving remarkably on repayment.
Additionally, our strong network of services throughout Patiala enables us to stick to our promise of 30-minute loan disbursal.
Have a look at the list of localities where you can avail Rupeek’s instant doorstep service in Patiala.
Rupeek offers gold-backed personal loan in Patiala at interest rates starting from 0.49%. The applicable interest rate depends on the scheme an applicant opts for.
In case you need to modify your contact details, kindly contact our customer helpdesk. We’ll be glad to guide you through the process.
Visit the “Repay your Loan” page and sign in with your registered mobile number and an OTP. Choose “Part Payment” as your payment option and proceed with any amount between monthly interest and the full-closure sum.
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