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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in begunia

Begunia is a bocktown located in odisha district of khordha. Some popular tourism attractions in the city are bhubaneswar, chilika bay, cuttack and nandan kanan national park. Every year chilika lake draws thousands of visitors. It is a lagoon of water spread over 1100km, and is a unesco world heritage site. It is the main wintering ground for migratory birds, and is considered to support a variety of endangered species. It provides broad sources of fishery, and several villages are located on its shores. Locals depend on it for their survival. It has a large catholic minority, too. The town's inhabitants are primarily interested in fishing and other small enterprises, and are taking gold loans to support them in begunia.

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Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

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.

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Frequently asked questions

Will gold items with stones be accepted for gold loan?

If you are looking to pledge or repledge your gold as collateral to avail a gold loan in Bhubaneswar, you may do so provided you are only pledging gold in the form of jewelry or ornaments as most lenders don't accept gold bars or coins. You can still pledge your gold even if your jewelry is encrusted with stones. It is noteworthy that during gold valuation, the weight of the stone will be calculated separately and deducted from the total weight of your gold. When it comes to gold valuation only the purity of the gold is taken into consideration.

What can I do if my lender is charging high interest?

If after the loan has been sanctioned and after a couple of repayment you realize that the rate of interest you have been charged with is high, if you wish to, you have the option to transfer your loan from your current lender to another lender. Most lenders offer this facility to their potential borrowers. As long as the borrower has a good repayment history, there is nothing to worry about. When a borrower wishes to transfer their loan to Rupeek, Rupeek sees to the matter at once. All the help from Rupeek’s end will be provided to the borrower to the extent that the only factor that the borrower has to be concerned about will be regarding the arranging of the loan renewal amount.
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