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Gold Loan in akhnoor

The incredibly beautiful archeological site, akhnoor is located on the banks of the chenab river at the foothills of the himalayas. The place gets its name from the mughal emperor jahangir who visited the place on recommendation when he named the place ankhon-ka-noor to try cure for his sore eyes. The town is declared for its historical and archeological significance as the last bastion of the indus valley civilization. Various buddhist relics were found on excavation which added religious significance to the site. To get a glimpse of this area, many tourists and visitors from all walks of life take a trip to akhnoor. The presence of numerous monuments makes it a very popular tourism destination, to keep up with the amount of gold loans made available to tourists in akhnoor.

Eligibility criteria for an online gold loan

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:

  1. Low rate of interest
  2. Minimal documentation
  3. High loan amount
  4. Flexibility in repayment options
  5. Instant loan approval, etc.

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:

  1. The borrower shouldn’t be a minor
  2. The mortgage loan should be of 18 karat or above
  3. The gold should be in the form of ornaments or jewelry.

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.

Documents required for an online gold loan

A gold loan is the perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:

  1. Identity proof – any document such as voter ID, PAN Card, Aadhaar Card, Passport, or driving license can act as the identity proof of the borrower.
  2. Address proof – the same documents as mentioned above, except for voter ID and PAN card can act as the address proof of the borrower.

Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.

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Frequently asked questions

Can I take a gold loan for my education?

One of the most flexible features of a gold loan is that you can spend it as per your discretion provided it is not with the intent of laundering money, terrorism, gambling, or any other such illegal activities. This implies that you can very well avail a loan for educational purposes. Easy repayment terms where you only have to pay interest each month and a flexible loan tenure ranging anywhere between 6 months to 12 months depending on your repayment capacity makes gold loans in Jammu one of the most favorable loans to opt for while pursuing higher education.

Can I take more than one loan at a time?

At Rupeek, it is possible to take more than one loan at a time! It is noteworthy that if you are looking to avail secured loans, the loan amount you are eligible for depends entirely on the value of the collateral. Since according to the norms set by the industry, the borrower can get up to 75% of the market value of the pledged gold as gold loan in Jammu. As long as your collateral is of a corresponding value, the minimum amount you are eligible to receive is INR 15,000 and the maximum amount is INR 1.5 Crores. 

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