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Gold Loan in bahadurpura

Bahadurpura is a humble locality on the southern part of Hyderabad.The area is 5.6 kms away from the heart of the city. It is in between the Kabutar Khana and Bandlaguda districts. It is near to the prominent areas of business in Hyderabad, Also it is close to Srinagar-Kanyakumari Highway that provides high accessibility. People settled around mostly apply for gold loan in Bahadurpur to set up their businesses.

Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

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.

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Frequently asked questions

What happens if the loan amount is not repaid on the due date?

Delay in repayment of loan reflects poorly on the borrower's credit score which affects the borrower's credit health if he/she were looking to avail a subsequent loan in the future. As a borrower your number one priority has to be prompt repayment of loans. Despite that if a borrower is unable to complete gold loan repayments because of unforeseen circumstances, the borrower will face extra charges with jumping interest rates. The loan manager will also be in touch with you to discuss the issue. If the loan amount remains unpaid beyond a stipulated date, the gold will be auctioned off. 

What do I do if I have found a discrepancy in the returned gold?

At Rupeek, we are very keen on customer satisfaction. In the unlikely event that you find any qualms with our usually stellar customer service, you can always reach out to us for instant redressal. If at all you find that the gold jewelry or ornaments that you pledged as collateral is damaged or tarnished in any way upon return after loan repayment, you can raise a complaint on the Rupeek app from your profile. Alternately you can get in touch with a Rupeek executive on the Customer care number. A Rupeek loan manager will be assigned to tend to you and will go through your loan history and sort this out for you.
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