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Aurangabad
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in Aurangabad

The erstwhile city of Khadki, which is better known as Aurangabad in present day, is a city filled with mystique, history, culture, heritage as well as economic success. The city was named by the Mughal price Aurangzed in the year 1653. The city is also popularly known as the tourism capital of Maharashtra. Aurangabad is home to the renowned Ajanta Ellora Caves which is a UNESCO world heritage site. Other archaeological sites such as the Bibi-Ka-Maqbara, Daulatabad Fort, Aurangabad Caves, Panchakki and Hazur Sahib Nanded accentuate the beauty of Mughal architecture. The influence of Mughal culture continues to manifest itself in various ways till date. The usage of Mughal designs in jewellery serves as an example. People continue take gold loans and invest in gold jewellery. Aurangabad is not just famous for its forts and monuments but it is also famous for the Naankhaliya, a luscious dish consisting of Naan and spicy Mutton Curry. The Himroo shawl and Paithani silk saris of Aurangabad is one of the best in the county, if not world.
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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

Can I close the gold loan earlier than intended?

\Yes, it is possible for the lender to close the gold loan in cityname before the end of the term. There are only rare cases when the option of prepayment wouldn’t be available to the borrower and that is if the lender has a lock-in period or if there are some prepayment penalties. Some lenders charge for the prepayment of the loan, called prepayment penalties. This charge can be up to 200 rupees, if you are looking to close your loan account 3 months or 1 month before the lock-in period set upon the lender’s discretion. The penalty charged by the lenders also depend upon your loan amount. Rupeek, on the other hand, does not levy any penalty charges for the preclosure of the loan account.

Which cities is Rupeek currently operational in?

At Rupeek, we understand that every loan applicant will have a different financial need and varying levels of urgency. At Rupeek, we ensure to serve each of these urgent loan requirements. Rupeek takes extreme pride in it’s fast, fair, and flexible loan services. Irrespective of whether or not you have all the required documentation or a healthy credit score, Rupeek ensures to have a solution for everybody. Which is how we have catered to about one lakh happy customers across the country! Here is a list of all the cities we currently operate in- 

  1. Bangalore
  2. Mumbai
  3. Delhi
  4. Chennai
  5. Kolkata
  6. Ahmedabad
  7. Pune
  8. Hyderabad
  9. Surat
  10. Jaipur
  11. Coimbatore

How is KYC done at home for online gold loan?

KYC documents are documents that prove the borrower’s identity and address. It can be the borrower’s Aadhaar card, PAN card, voter ID, driving license, or passport. These are the only two documents that a secured loan demands from its borrowers. When the representative from the company arrives at your doorstep to verify your documents and your gold, your documents will have to be uploaded to check its validity. The official will take pictures of the documents and upload them to the company’s system. Within minutes, the documents will be verified and the process will be completed.

Can I transfer my loan from my existing lender?

Yes, at Rupeek you can transfer your loan from an existing lender to another. In case you want to process a balance transfer for an existing loan from your current gold loan company to Rupeek, all you will have to do is arrange for the renewal amount and we will help you with the rest. Additionally, when you transfer a loan with Rupeek, we send you a consolidated and personalized report detailing how much more you will save with the loan amount. A loan transfer with us also entails maximum security measures for your gold, and flexible repayment, such as the option to pay interest once in every 6 months Kindly visit our loan transfer page for more details
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