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Gold Loan in borunda

This small village is located 93 kilometers east of Jodhpur and has nearly 16,000 people. Not many tourists visit this place due to the lack of a railway station. This remote village lacks proper education and medical facilities. Residents are usually small businessmen and agriculturists who use gold loans in Borunda where there is a financial emergency. People are completely dependent on road transportation since the nearest railway station is more than 20 kilometers away. Most young residents move to other places to get better education and improve their career opportunities to obtain a better standard of living.

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.

What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.

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Frequently asked questions

Do online gold companies offer different schemes for different income groups?

No, the schemes are the same with most online gold companies. Any borrower that meets the basic eligibility criteria and minimum age requirement can avail of a gold loan, even if they are currently unemployed. The gold loan schemes vary by loan tenure and amount.and not by income groups. Unlike unsecured sources of funds, loan approval is not given after the evaluation of the borrower’s financial health, in the case of a secured loan. The schemes are the same for all the borrowers irrespective of the income. The schemes are chosen by the borrower, depening on the loan interest rate, loan term, as per their convenience.

Is there a Rupeek branch which I can visit? How do I find the nearest one?

Rupeek has over 3000 locations spread over 11 cities in India, that include Bangalore, Mumbai, Delhi, Chennai, Kolkata, Ahmedabad, Pune, Hyderabad, Surat, Jaipur, and Coimbatore. Lender branches have been set up with partnered banks to ensure that are branches within three kilometers from the main areas of the cities. Rupeek has a network of regional offices and bank branches spread across the country. If you wish to visit a branch, first you have to find out the branch that is closest to you. You can make a visit after you identify the branch. Rupeek will be more than happy to see to your requirements.
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