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.
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:
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.
Rupeek takes extreme pride in the fact that we have closed out 25,000 loan applications with utmost care and safety. Here's how we systematical ensure the safety of your ornaments while it is in our possession:
1) ISO Certification- Rupeek's gold appraisal process has been certified by ISO 9011:2015
2) Trusted Partner Banks- We have done an at-length background check with all of our partner banks before we carefully handpicked them. These include but is not limited to Karur Vysya Bank, Federal Bank, and ICICI Bank.
3)Trusted Security Partner- Brinks- an internationally trusted security service is our official security partner.
4) Transporting your Gold- Your gold is transported in a sealed, secured bag embedded with GPS.
5) Storing your Gold- Your gold is stored in secure bank lockers under bank-grade security and surveillance to ensure the utmost safety.
6) 100% Insurance Cover- While in our possession your ornaments have a 100% insurance cover from New India Assurance against theft or accident.
Your request has been received, our customer relationship manager has been notified and will call you shortly