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

Gold Loan in boloor

Boloor stands in karnataka district of dakshina kannada, in the western part of mangalore region. It is a neighborhood centrally situated just 2 km away from mangalore railway station. The mangalore international airport is located approximately 13 km from this area. Boloor is flanked by mg road and krr lane, which makes it easy to enter the neighborhood from virtually any part of the world. People have access to all kinds of facilities in this area, including gold loan in boloor for short notice resolution of their fund crunch. Boloor is also filled with a few business establishments. Well-known factories like hindustan unilever are near to this neighbourhood.
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We offer the highest per gram rate on our gold loans.

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Gold Loans at the privacy of your home

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What is an online gold loan?

Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.

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

Under what cirumstances will my gold loan get rejected?

There are quite a few circumstances under which granting a gold loan can be rejected for the customer. In the very first step which is KYC. If the documentation provided by the borrower is not sufficient or of suspicious authenticity or found to be forged/fake then the gold loan will be rejected. Secondly, your credit score may be too low for the lender to trust your ability to repay the loan and hence will reject your loan. Thirdly, the gold you pledged may not be meeting the standards of purity which have to be a minimum 18 karat to be offered as security.

Can I get an interest-free gold loan?

Rupeek strives to provide flexible, convenient, and affordable solutions for everyone. However, this does come with certain limitations. For instance, it is not possible to get a zero-interest gold loan in <cityname> as this is the main source of revenue for lenders. The interest paid by the borrower every month is the charge levied on the loan amount. However various gold loan companies compete in the market for the lowest interest rates. The interest rates are calculated based on various factors like loan amount, loan tenure, and most importantly the repayment capacity of the borrower which is decided depending on the debt-income ratio,
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