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Gold Loan in balesar

Balesar is one of the 10 blocks in the Jodhpur district. There are around 271 villages in this block and about 400 families. The village is located at a distance of 65 kilometers from Jodhpur, in the rural area of Rajasthan and there is no train service. Taking the road is the only way to reach the village. The saddest part of the village is an incredibly high illiteracy rate, with an illiteracy rate of 38% for men and 68% for women. Most residents of the village unemployed due to the high illiteracy rate. The people employed are totally dependent on agriculture. Anyone who needs financial assistance apply for gold loans in Balesar.

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.

Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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Frequently asked questions

Can I increase my loan amount after taking the loan?

It is possible to increase the loan amount after a loan has already been obtained by pledging the gold of the borrower to get a gold loan in Jodhpur. The borrower will be able to get funds based on the current rate of gold. As the borrower submits the remaining collateral with the lender, the lender will disburse the rest of the funds to the borrower’s bank account. Rupeek offers much flexibility for the gold loans that it offers. If there is any adjustment that the borrower would like to resort to, Rupeek will make sure that it sees to it. 

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. 
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