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

Gold Loan in butala

Butala is a village in tehsil baba bakala in the amritsar district in the punjab Indian province. It is distributed over a 644 hectare area with a total of 569 households. Some of butala's neighboring villages are tapiala, sattowal, pallah, bedadpur, gaggar bhana and kammonke. It is also conveniently linked to other major cities in the state within 10 km from the village, through a railway station. It also operates various public and private bus services. The village was previously named butan-wala, and was built by bal jatt zamindars. In and near the city there are various commercial banks from which the locals can apply for an gold loan in butala. There are also many atm available in the village when they need some fast cash from the locals.
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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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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.

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

Can I avail EMI facility on gold loan?

Yes, EMIs are available for a gold loan in cityname. EMI stands for Equated Monthly Installment where a fixed amount is paid every month towards the repayment of the loan. The EMI consists of both the principal amount as well as the compound interest. EMIs are fixed and consistent and make sure that the repayment of the loan does not burn a hole in the pocket of the borrower. Before you place an application for a loan, using the online gold calculator, it is possible for you to check the amount you will have to pay as EMI for your gold loan in cityname.

How do I repay the gold loan?

There are several repayment options from which borrowers can pick the one most suited to them. The gold loan in cityname can be repaid as a bullet payment at the end of the loan term, together with the interest amount as well as the principal amount. It can also be paid as EMIs and even as a prepayment. The loan amount can be repaid in the form of cash, cheque, DD, or card. Using Rupeek’s loan repayment portal, the loan amount can be repaid in just three simple steps. You can log in with the OTP sent to the registered phone number. The gold loan repayment can then be completed from your profile.
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