Located in the rural area of Jodhpur, Aau is one of the 272 villages in Phalodi. The village has very less population, but the illiteracy rate is high. 71% of women are illiterate and 49% of men are illiterate. These ratios affect the career opportunities of the students in the village. Most people are still unemployed, and those employed are agricultural farmers and laborers who generally choose gold loans in Aau to meet their agricultural needs. The village also does not have good amenities and transport facilities. The nearest railway station is more than 15 kilometers away.
Since a gold loan is a secured loan, it offers many benefits that the other sources of funds do not offer. Some of the benefits offered by a gold loan include:
The requirement for eligibility for a gold loan isn’t much. To avail a gold loan, the borrower has to fulfill the below-mentioned criteria:
The loan amount is then calculated by the lender by multiplying the quality, purity, and weight of the gold. The lender then multiplies it with the average price of gold for the past thirty days. The resultant amount id the loan amount that the borrower can borrow.
The benefits a borrower can reap from an online gold loan are boundless! All you need to do to avail an online gold loan is download the lender's app and place a loan request. One of the best features of a gold loan is that this process can be done online entirely without manual intervention provided that is what the borrower prefers. The borrower also has the flexibility to place a call on the lender's customer care number to avail the same if he/she were to feel like they might need assistance with the process. All this happens right from the comforts of your home. Even when it comes to gold valuation, you do not need to venture out with expensive gold in your pocket! The lender assigns a representative that will visit you at a location and time as stipulated by you. While an online gold loan does require a few basic documents, you can also avail a loan with just your Aadhar card! As a borrower, you are eligible to receive up to 75% of the gold you are pledging. If both parties are in agreement with the loan amount, the loan is disbursed to your account within a matter of 10 minutes. What's more, the entire process takes only an hour end-end!
Rupeek provides one of the highest gold loan amount per gram in the market. It offers one of the lowest loan interest rates of 0.89%. Additionally, the loan terms are one of the longest you can ever find! Borrowers can avail various online schemes depending on your repayment capabilities. This gives the borrowers the latitude to choose whichever scheme suits them best. These schemes are classified into four categories depending on the loan amount.
1) Loans below 2 lakhs
2) Loans between 2 lakhs - 5 lakhs
3) Loans between 5 lakhs -20 lakhs
4) Loans above 20 lakh
It is noteworthy to identify that the loan amount is inversely proportional to the interest rate increases. The schemes available also vary based on the various loan amounts
1) High-Value Loans
2) Max Value Loans
3) No Tension Max Value Loan.
The loan interest rate ranges between o.898% - 1.69% This is decided based on the loan amount you are looking to borrow.
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