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Gold Loan in ayodhya nagar

Ayodhya nagar is a locality in nagpur city in Maharashtra's indian state. There are lots of parks in the area for residents to spend some time with relatives. Sant gyaneshwar garden and raghuji nagar garden are some of those parks. There are also a number of hospitals in the vicinity including madhav medical, shree vighnaharta hospital and bajaj hospital. Kamla nehru college, nifm, and s.b city college are some of the well-known colleges within this region. Students are admitted to these colleges because of the availability of gold loan in ayodhya nagar, without caring about college tuition. For middle-class families these loans serve as a salvation. Some of the town's popular restaurants, such as crostino and om foods international, are also in the locality. These restaurants serve the tastiest dishes.

Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

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

Is there any maximum and minimum limit for availing gold loan?

When you want to obtain high loan amounts, a gold loan is the best option before you. When it comes to Rupeek, the least amount that you can obtain by pledging your gold is 15,000 rupees. The amount of loan that you can avail depends on your gold. As per the standard norms set by the industry, the borrower can obtain 75% of the market value of the pledged gold as collateral. For example, if you have kept gold worth 1 crore as collateral, you are eligible to get 75 lakhs as the gold loan amount. In some cases, the percentage can go up to 90%. The maximum amount that can be obtained at once by pledging your gold with Rupeek is 1.5 crores. 

Can I close the gold loan earlier than intended?

Yes, it is possible for the lender to close the gold loan in Nagpur 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.
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