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Located on the banks of Vishwamitri River, Vadodara, previously known as Baroda, is the third-largest city of Gujarat. Immensely popular for the exquisite architecture of Laxmi Vilas Palace and the Khanderao Market, Vadodara’s enriched heritage and culture of this city have earned it the status of the ‘Sanskari Nagari’ and ‘Kala Nagari’ of India.
Apart from the rich cultural influence, Vadodara has a mighty presence in the industrial sector. Numerous large-scale corporations, including IOCL, ONGC, GAIL and many others stand as the building block of this city’s economy.
Vadodara’s ever-increasing financial prosperity reflects on the lifestyle of people living in here. However, unbudgeted or large-scale expenses can overstrain a person’s finances. In that case, individuals in Baroda can turn to a personal loan to address cash shortfalls.
The features of a personal loan include –
Individuals’ with a low-income profile or a poor credit score often find it challenging to satisfy the rigid personal loan eligibility requirements. Moreover, during urgent cash needs like a medical emergency, collating necessary documents may become a hassle. That is why gold loans for personal needs are gaining popularity among consumers in Vadodara because of their minimal documentation and faster processing time.
Although gold ornaments hold immense sentimental value, their utility is limited. Hence, individuals can utilise this idle asset to its fullest by availing a personal loan against it.
Here are a few differences between a traditional personal loan and a gold loan.
Pointers |
Personal Loans |
Gold Loans |
Loan type |
Unsecured |
Secured |
Interest rate |
Higher |
Lower |
Tenure |
1-5 years |
4-6 months |
Eligibility criteria |
Stringent |
Relaxed |
Documents |
Extensive |
Simple |
CIBIL Score |
750 or above |
Not required |
Disbursal time |
2-14 days |
1 – 2 days |
Besides these, borrowers can enjoy several additional benefits by opting for a personal loan against gold from Rupeek.
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Individuals willing to take a personal loan in Vadodara from Rupeek are assured of the following benefits.
Apart from these benefits, borrowers can enjoy additional advantage from our gold overdraft facility.
Also known as Rupeek Quick, our gold overdraft facility allows borrowers to get an extended credit line by pledging their gold. On top of that, they can avail the benefit of paying interest only on the expended money and not on the total sanctioned limit.
Individuals in Vadodara who are looking for a ‘gold-backed personal loan provider near me’ can get our financial services in the following areas.
With Rupeek’s strong presence across Baroda, availing an online personal loan is no longer a hassle. Enjoy instant loan at your doorstep within just 30 minutes. For more information, get in touch with us today.
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A personal loan against gold enables borrowers to enjoy a faster processing time, higher loan amount, lower interest rate, and quick disbursal against simple eligibility criteria.
No, you do not require a CIBIL Score to get the approval of a gold loan for personal purpose.
We follow best-in-class security protocols. The loan representative carries the pledged gold ornaments in a GPS-enabled bag. They are stored in a military-grade vault and are covered by complementary insurance during the entire tenure.
Yes, you can re-pledge the gold ornaments to extend a personal loan’s tenure. Kindly contact our support team for additional details.
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