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Gold Loan in balmatta

Balmatta is a big commercial area that is part of karnataka's mangalore central business district. Located in the city's center, balmatta is one of the city's busiest localities. It remains surrounded by a number of other prominent localities, including hampankatta, kadri, and kankanadi. The city is dotted with many restaurants, shopping malls and other commercial establishments. Company owners can easily set up or extend their businesses in this part of town, thanks to the fast availability of gold loan in balmatta. Some of the famous shopping spots in this locality are bhima jewellers, soch store, tanishq jewellers, children's corner and impact computer store.

Benefits of an online gold loan

The benefits a borrower can reap from an online gold loan are boundless! All you need to do to avail an online gold loan is download the lender's app and place a loan request. One of the best features of a gold loan is that this process can be done online entirely without manual intervention provided that is what the borrower prefers. The borrower also has the flexibility to place a call on the lender's customer care number to avail the same if he/she were to feel like they might need assistance with the process. All this happens right from the comforts of your home. Even when it comes to gold valuation, you do not need to venture out with expensive gold in your pocket! The lender assigns a representative that will visit you at a location and time as stipulated by you. While an online gold loan does require a few basic documents, you can also avail a loan with just your Aadhar card! As a borrower, you are eligible to receive up to 75% of the gold you are pledging. If both parties are in agreement with the loan amount, the loan is disbursed to your account within a matter of 10 minutes. What's more, the entire process takes only an hour end-end!

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

Are all gold items accepted?

Gold loans are those loans that are availed by securing it against gold. These gold loans are very simple to avail and have several benefits, the most important of them all being the range of flexibility offered by lenders. When it comes to gold loans, most lenders accept gold in any form, as only the purity and quality of your gold matters. Rupeek currently only accepts jewelry and ornaments. Gold bars and coins are not accepted by lenders. Our lending partners only accept gold jewelry of 18 carats and above, which is subject to valuation reports for any loan on gold. 

Who can avail Rupeek gold loan?

Rupeek's motto is to make loans easily available to everyone. It is because of this that the eligibility criteria have been intentionally relaxed. That is, any individual above the age of 18 and of Indian nationality is eligible to avail a loan with Rupeek. Since these are secured loans, the applicant is also expected to be in possession of gold with a purity of 18 Karat or above. Ideally, the gold is expected to be of the form of ornaments or jewelry. Gold coins and bars are not acceptable forms of collateral when you are looking to get a loan against gold.
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