Gold loans in 30 minutes with Rupeek's new App By CIOReview Team

Gold loans in 30 minutes with Rupeek's new App

CIOReview Team | Friday, 18 August 2017, 12:10 IST

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Rupeek Fintech, a Bangalore based technology company founded by IIT-Bombay alumni, has recently launched a mobile app that allows you to take Gold loan online within 30 minutes.

Rupeek was launched in 2015 to provide Gold loans to borrowers at reasonable interest rates. Today, the Rupeek Family has more than 10,000 happy customers.

"People love us for the ease with which they can apply for Gold loans with Rupeek. They just need to install the Rupeek app on their phone and request a loan in less than 15 seconds" said Sumit Maniyar, Founder and CEO of Rupeek.

Rupeek has been working on the technology behind the product for more than two years now and Bangaloreans are the first ones to taste the benefits of its product.

"Online Gold loans help us cut on distribution costs and thus help the customers save more on their interest just like online insurance. Our Gold loan schemes are 25% cheaper than the alternatives available in the market from other Gold loan companies." said Prasad S, Chief Growth Officer at Rupeek.

Rupeek's Gold loan schemes start with a monthly interest rate of 1.5% with highest per gram LTV of 75% and long 12 month tenure. The interest rates remain fixed and do not jump unlike other Gold loan companies in the market. The borrowers have the flexibility of paying interest quarterly and in six months as per their comfort with doorstep delivery of the Gold at the time of the release in a fully secure way with insurance cover during the transit. The complete process is fast and paperless with KYC done using Aadhar based authentication and thus saves time and effort for the customers.

Rupeek has collaborated with Yogakshemam Loans, a Thrissur based NBFC to launch this service in Bengaluru. Yogakshemam Loans have more than 100 branches across India and have been operating in the Gold loans industry for more than 20 years now. Rupeek now has presence in Bengaluru across their offices in Mathikere, RT Nagar, JP Nagar, Malleswaram and Jayanagar. "Our Bengaluru business has seen phenomenal growth in the last one year thanks to Rupeek’s high-tech Gold loan disbursal model which saves customers time as well as money. The schemes with non-jumping interest rates and very long 12-month tenure are loved by the Gold loan borrowers", said Mr. Unnikrishnan, current MD of Yogakshemam Loans and ex-Deputy CEO of Manappuram.

With technology, the way we do our day to day tasks has been changing and that includes our financial tasks as well. Rupeek's success in Bengaluru is a testimonial to the changing times and they see many such changes to the traditional banking and financial services which will help the customers in the coming days.

Rupeek's services can be availed by downloading their app on the android play store. For those who do not have a smartphone, the customers can just call Rupeek call centre on 08039515252 and register a loan request.

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