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Gold Loan in bheraghat

Bheraghat is jabalpur is a small town in the indian state of madhya pradesh, and a nagar panchayat. Located about 20 km from the city of jabalpur, this town lies along the yamuna river. It has some spectacular attractions to discover for travelers such as the marble cliffs, the dhuandhar falls and the chaunsath yogini temple. Such is the charm of this small town that many bollywood movie songs were filmed in its neighbourhood. People here are not very exposed to urban life and gold loans in jabalpur's bheraghat help them fulfill their cash crunch needs in times of crisis and meet other big household spending.

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.

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

Is there a possibility of damage to the ornaments at the time of appraising?

In a country like India, people tend to have a sentimental attachment to their gold. This is because gold gets handed down from generation to generation in the form of ancestral property. For this reason, it is hard to let go of a piece of jewelry, fearing some damage. The borrower might be worried that their property might be stolen/ misplaced or mishandled. At Rupeek, we fully understand how valuable your gold ornaments can be to you. We make sure that your ornaments are dealt with caution and care. The evaluation of your gold will happen right before your eyes, bearing you as a witness to the treatment that the ornaments get. From the moment that your gold gets transferred into the hands of Rupeek, they are 100% insured. 

Is there a processing fee while applying for an online gold loan?

The components of a loan always vary from one lender to another. There is no standard method in which your gold is valued, the loan amount you are eligible to receive, the gold gram rate, and loan interest. As a rational borrower, you are required to conduct due research before availing an online gold loan because even minute factors like overhead charges can increase the cost of your loans. The processing fees for your gold loans can vary from one lender to another and range between 0.20% and 2% of the loan amount. The processing fee at Rupeek is at the lower end of the spectrum and is in fact, one of the lowest in the market.
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