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Amravati

Low Interest Gold Loans in India

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Low Interest Loans

Get a New Gold Loan
flash Instant 30 minuntes
Shift your Existing Gold Loan
save Save ₹37,131*

Gold secured by
Trusted Bank Partners

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We offer the highest per gram rate on our gold loans.

We offer the highest per gram rate on our gold loans.

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Gold secured by
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lender banks

Gold Loan in Amravati

The region is named after the Goddess Ambadevi, who is the reigning deity of the city. This historic city in the state of Maharashtra has many proud histoical monument and landmarks standing tall on it. Some of them include the temples of Ambadevi, Ekvira Devi, Sri Krishna, Sri Venkateshwara Swamy, and Sant Gadge Maharaj. Among the other prominent tourist attractions are Osmania Masjid built by the Nizam of Hyderabad, Chatri Talao, and Wadali Talao. One of the top-most institutes for physical training in India, the Hanuman Vyayam Prasarak Mandal (HVPM) is located in the region. Mainly dependent on agriculture for its economy, to meet their financial needs, people often turn to gold loans in Amravati. Holi, Diwali, Eid, Makar Sankranti are celebrated with a grand festivity every year. Amravati also has an array of lip-smacking dishes such as Sambhar Wadi, Gila Bada, and Gupchup. To meet their urgent fund requirements, the people depend on gold loans in Amravati.
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What is an online gold loan?

Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

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Frequently Asked Questions

Is there a processing fee while applying for an online gold loan?

Gold valuation, loan amount, interest rates all factors that vary from lender to lender. One of the important factors to keep in mind while looking to avail a gold loan is the overhead charges that could increase the cost of your loans such as processing fees. Processing fees for gold loans vary from one lender to another and range between 0.20% and 2% of the loan amount. Loans can have high processing fees and other additional charges. Rupeek is dedicated to offering affordable and convenient loan solutions, which is why our processing fees are one of the lowest in the market.

In case of default, when will the gold jewellery be auctioned off?

In case of default of payment or arrears, the gold that you have pledged as collateral will be put up for auction about 30 days after the end of the loan term. To avoid such unfortunate consequences after your loan has been sanctioned, make your EMI payment as a primary priority. If the lender plans to auction your gold, it will be processed only after informing the borrower. Borrowers are requested to self evaluate if they are capable of handling the weight of EMI as well as personal expenses before opting for the loan scheme.

Why should I take a gold loan with Rupeek?

Rupeek gold loans are the perfect solution to all your urgent financial needs. Several advantages can be enjoyed by obtaining gold loans from Rupeek. They offer instant gold loans online with which the borrower can enjoy several benefits that are unique to them. Some of the benefits that can be availed using Rupeek are listed as follows: 1. Low rate of interest – the interest rates can be as low as 0.89%. 2. Flexible repayment options – there are several repayment options from which the borrower can pick which suits his interests best 3. Quick disbursal of funds – the loans are usually disbursed into the borrower’s account within an hour from placing the loan application. 4. Minimal paperwork – the only documents that the borrower has to submit before the lender are their identity proof and address proof. There are also provisions under which the lender can get loans with just their Aadhaar Card. 5. High-value loans – the borrower can get high-value loans with Rupeek. The loan amount that is available to the borrower is determined by the value of the gold that has been pledged.

Under what cirumstances will my gold loan get rejected?

There are quite a few circumstances under which granting a gold loan can be rejected for the customer. In the very first step which is KYC. If the documentation provided by the borrower is not sufficient or of suspicious authenticity or found to be forged/fake then the gold loan will be rejected. Secondly, your credit score may be too low for the lender to trust your ability to repay the loan and hence will reject your loan. Thirdly, the gold you pledged may not be meeting the standards of purity which have to be a minimum 18 karat to be offered as security.

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