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Gold Loan in barkatpura

Barkatpur is located quite centrally from all the other prominents areas in Hyderabad. It is full of hospitals, diagnostic centres, schools, colleges and parks. The closest railway station is Kacheguda Railway Station.The place enjoys maximum connectivity though bus, train and metro. Gold loan in Barkatpur is popular among people to achieve their financial goals.

Eligibility criteria for an online gold loan

As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-

1) Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.

2) You must be an independent major, that is of the age 18 or above

3) Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.

4) The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)

It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days. 

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

Which cities is Rupeek currently operational in?

Rupeek has been in the industry since 2015 and has since been giving urgent and immediate loans to its customers. It has been gaining popularity since its commencement, thanks to the quick, transparent, and hassle-free procedure it follows. It has been operating in over a three thousand location spread over the following cities:

  1. Bangalore
  2. Mumbai
  3. Delhi
  4. Chennai
  5. Kolkata
  6. Ahmedabad
  7. Pune
  8. Hyderabad
  9. Surat
  10. Jaipur
  11. Coimbatore.

Growing by leaps and bounds, it has become India’s largest growing platform for online gold loans. Rupeek is also under a mission to expand to other cities in India as well. It has embarked on a mission to provide the best gold loans at affordable interest rates to people across the country.

What about the tenure of the loan, lock-in period, and prepayment penalties?

The specifics of a loan vary from one lender to another. The loan tenure, prepayment penalties, lock-in period are all subject to change depending on the lender. For instance, at Rupeek the tenure of a loan is on average 12 months. However, the borrower can exercise a great range of flexibility and even choose to repay the loan within a few days as well. Rupeek strives to provide affordable, convenient, and flexible solutions that suit the requirements of every borrower, there is no lock-in period, nor are there any prepayment penalties! 
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