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Gold Loan in Central Secundrabad

Secundrabad boasts the honour of housing a landmark clock tower in the area. Hindus, followed by Muslims and Christians, inhabit the area. Central Secundrabad is home to many temples, hospitals, clinics as well as diagnostic centres. The area is also characterised by its lively showrooms, restaurants, shopping malls and companies. The people in this area reportedly Invest a lot in gold by availing gold loans in Central Secundrabad. Secundrabad is an important spot in the public transportation system since it's an important metro junction. Due to the high cost of living is high, people often choose to invest in gold to secure their financial position.

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.

Eligibility criteria for an online gold loan

As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-

1) Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.

2) You must be an independent major, that is of the age 18 or above

3) Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.

4) The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)

It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days. 

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Frequently asked questions

Can I pledge anything other than gold?

Lenders don't accept any other form of collateral apart from gold. This is so because their lending partners only accept gold jewelry. It is noteworthy that gold again in turn will not be accepted in the form of coins or bars. Lenders only accept gold jewelry or ornaments. This jewelry will then be appraised right in front of your eyes, and the loan amount will be conveyed to the borrower. Post gold valuation and loan disbursal, your gold will be safely transported to a locker where it will be stored until loan repayment. As long as your gold is in the possession of Rupeek, your gold will have 100% insurance cover.

How is gold appraisal done at home for online gold loan?

One of the several benefits of availing a gold loan is that the lender’s representative comes to your doorstep for gold valuation. This lender appointed loan manager will weigh each of your gold ornaments and enter the price/weight details on their system. It is noteworthy that this gold needs to be in the form of jewelry or ornaments and not gold coins or bars. The loan manager will also verify the quality of your gold through industry-standard tests done in front of you. These details are then passed on for approval to our team who will respond shortly after the submission.&nbsp

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