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Gold Loan in Chakan

Chakan is a completely industrial area that is located in the western suburbs of Pune adjacent to the Expressway of Nashik Pune. For all the employees out there who are seeking job opportunities, Chakan has become pretty famous due to a huge growth in commercial as well as industrial sectors. Several small and large-scale industries like Mercedez-Benz, Volkswagen, and others are hosted in Chakan. The residential sector is experiencing the same amount of growth due to a boom in the industrial sector. People from other cities looking for jobs, often find Chakan a perfect place for themselves. Employees from different parts of the world consider moving to Chakan for getting an opportunity in an eminent corporation in Chakan. There could be any moment when somebody requires instant cash. Whether it is an outsider or a local person of Chakan, a gold loan in Chakan could be very helpful to get them some money effortlessly.

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. 

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.

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Frequently asked questions

Why should I take a gold loan with my jewellery?

If you are in urgent need of immediate loans, you can always use your gold to secure it against a loan. It is noteworthy that this gold has to be either in the form of jewelry or ornaments, as most lenders don't accept gold bars or coins. As gold loans in Pune are good in a rising market, a lender offering good LTV will get you the most out of your gold jewelry. After you have repaid your loan, you can reclaim your gold as it was. If at all you find that your jewelry is damaged or not returned in original condition, you can always contact us and we'll help you get it sorted instantly.

Can I pledge anything other than gold?

Lenders are specific about the kind of loans that they specialise in. For example, a lender that deals in online gold loans, only stick to online gold loan. Rupeek only provides the service of online gold loans and they specialise in them, offering their customers one of the best services that include low interest rates, high loan amount as well as flexible loan repayment options. In fact, Rupeek offers one of the best and the fastest-growing online gold loans in the company. Rupeek also only accepts gold collateral that is in the form of ornaments. While gold also exists as coins and bars, Rupeek only deals in gold ornaments since its partner banks only accept ornaments. 
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