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

Gold Loan in bhokar

Bhokar is a town, tehsil, and municipal council situated in the Nanded district of Maharashtra, India. It belongs to the Aurangabad Division and part of the Marathwada region. The Bhokar Railway Station serves Bhokar. Another railway station close to Bhokar is the Tharban Railway Station. Towns such as Peth Umri and Mukhed have a very good connectivity to Bhokar. Pochamma Devi Temple, Lord Dattatreya Temple, Mahadev Mandir, Hanuman Temple and Santoshi Mata Temple are some of the famous religious sites in Bhokar. Gold loans in Bhokar is very famous among the residents due to the easy of availing it.
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Gold Loans at the privacy of your home

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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

How to apply for a gold loan with Rupeek?

Applying for a gold loan with Rupeek can be done in 3 easy steps.

  1. Request a loan: Download our app, give us a call, or visit our website
  2. Get gold valued at home: Complete the KYC process from the comfort of your home
  3. Get money instantly: The loan amount is instantly transferred to your account

The whole process usually takes places inside an hour. One of the reasons why Rupeek is opted by people around the country is because of its smooth, fast and hassle-free process. Rupeek makes sure that the emergency funds required by the people can be availed as easily as it is possible.

Is there any age limit to avail a gold loan?

Each lender follows a different age limit criteria for people that are applying for a gold loan in <cityname>. Some lenders require the borrower to be a minimum of 18 years while some others require the borrower to be 21 years of age. Some have a limit of 65 years while others have 75 years as the age limit. However, largely, if you are an Indian citizen, above the age of 18 and possess the required KYC documents and gold amount, you can avail a gold loan. The eligibility criteria for a gold loan is less compared to other sources of funds. As long as you are above 18 years of age, and the gold that you are providing as collateral is above 18 karat gold, you are eligible to get a gold loan. The gold that you pledge as collateral can only be in the form of ornaments or jewelry. 
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