Vijayawada

Personal Loan in Vijayawada

Vijayawada is the second-largest city in Andhra Pradesh and one of the rapidly growing urban areas in India. Places like Prakasam Barrage, Bhavani Island, Victoria Jubilee Museum, Kondapalli Fort, and Kanaka Durga Temple are some of the notable landmarks of Vijayawada.

Numerous sectors, including construction, education, entertainment, food processing, transport, and hospitality, contribute to the city’s booming economy. This has also escalated the cost of living people in Vijayawada, leaving limited room for large-scale expenses, like the cost of higher education, wedding, and the likes. To ease the load on one’s finances, individuals can utilise a personal loan in Vijayawada, and meet all sorts of expenses efficiently.

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Personal Loan – Eligibility Criteria

Both salaried and self-employed individuals can apply for a personal loan in Vijayawada. However, banks and NBFCs check several parameters while sanctioning a personal loan. The basic factors include an individual’s age, income level, place of residence. More importantly, financial institutions check:

  • Credit Score –Individuals must have a CIBIL Score of 750 or above to avail a personal loan. Since there’s no asset backing a personal loan, lenders emphasise on a borrower’s credibility.
  • Repayment Capacity – It refers to the ability of a borrower to pay back the loan amount along with interest within the tenure. To ensure this, lenders check borrower’s earnings, existing debts, and term & type of employment.

Personal Loan – Documents Required

Along with identity proof and address proof,

  • Salaried individuals are required to provide salary slips of the past 3 months, bank account statements of the previous 6 months, and Form 16.
  • Self-employed individuals need to provide last FY’s income statement and balance sheet, past 6 months’ bank account statements, and ITR documents.

The strict eligibility criteria and lengthy documentation of traditional personal loans in Vijayawada can prove inefficient during emergencies. Individuals can consider a gold loan to avoid these and other inconveniences of an unsecured personal financing option.

Gold Loan – Advantages

As gold loans are secured financing options, they do not entail lengthy documentation. Moreover, borrowers not willing to service a loan for an extended tenure can opt for a gold loan, since they come with repayment periods of 4 – 6 months.

Borrowers who avail a gold-backed personal loan in Vijayawada can enjoy the benefits of both a personal loan and a gold loan. The latter does not have any end-use restriction either, and the loan amount can be higher than that of a personal loan.

However, individuals looking for an easy personal loan in Vijayawada must consider additional features to optimise their benefits. If you have landed on this page while searching for “personal loan lenders near me”, take a look at the industry-first benefits that set us apart.

Gold Loan offered by Rupeek – Advantages

Borrowers can avail the following benefits with Rupeek –

  • Quick Disbursal: To ensure quick funding during urgent cash shortfalls, we offer doorstep instant gold loan disbursal within 45-60 minutes in most cases.
  • Highest Per Gram Rate: Borrowers can avail a sizable loan amount with our offering of the highest per gram rate. Use our gold loan calculator to evaluate the total loan amount beforehand.
  • Lower Interest Rate: Unlike unsecured loans, our gold-backed personal loan interest rates are much lower. With us, borrowers can avail a loan at rates of interest as low as 0.49% per month.
  • Flexible Repayment: Our financial services provide individuals with the facility to pay as per their convenience. Repay via EMIs, with a single bullet payment, or pay the repayable amount in parts anytime within the tenure.

Alongside these benefits, people in Vijayawada can also enjoy instant financing with our overdraft facility against gold.

About Gold Credit Line offered by Rupeek

Applying for a loan during emergencies is never desirable. By availing our overdraft facility, Rupeek Quick, borrowers can access funds anytime from anywhere. One can take out this credit line by simply pledging their gold.

Our overdraft facility also enables borrowers to maximise savings as they only need to pay interest on the utilised sum instead of the total sanctioned limit.

To ensure every individual gets access to quick personal financing in Vijayawada, we have stretched our financial services at a great many numbers of localities as well.

Rupeek’s Availability in Vijayawada

Prospective borrowers can avail our financial services in the following locations in Vijayawada.

  • Gannavaram
  • Ramavarappadu
  • Satyanarayanapuram
  • Bhavanipuram
  • Nandigama
  • Vuyyuru
  • Autonagar
  • Gollapudi
  • Mylavaram
  • Kanchikacharla
  • Ibrahimpatnam
  • Kankipadu
  • Kondapalli
  • Nidamanuru

With our financial services at Rupeek, borrower’s search for an online personal loan comes to an end. For further information, call us on 0866-6480818 or fill out the form available at our contact page to get a clarification regarding any query on gold-backed personal loan in Vijayawada.

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Frequently asked questions

1. How can I re-pledge my existing gold-backed personal loan with Rupeek?

If you are an existing customer of Rupeek and want to re-pledge your valuables, you can contact our customer support team. They will guide you through complete the entire process.

2. How to apply for a personal loan against gold with Rupeek?

Applicants first need to request a loan by downloading the app, by visiting the official website, or by calling us. Subsequently, you can complete the KYC verification and gold appraisal process at your home with our loan manager. After that, borrowers can get the loan amount disbursed instantly to their account.

3. What KYC documents do I need to submit while applying for a gold loan for personal purpose?

The basic KYC documents that you need to submit are driver’s license, Aadhaar Card, PAN Card or passport. Also, borrowers need to provide a utility bill or lease agreement along with the other documents.

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