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Gold Loan in Chattarpur

Chattarpur is one of the desirable residential neighbourhoods located near affluent neighbourhoods. It witnesses an amalgamation of urban and rural population. It is not as developed as other residential zones in Delhi. The reason behind the lack of development is owed to the fact that it is covered by a forest at one of its nodes. The area is famous tourist destination since some popular sites such as Chhatarpur Temple and Qutub Minar. Tourists often rely on gold loans in Chattarpur to invest in gold jewellery

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

Are all gold items accepted?

Most lenders accept all gold items as only the purity of gold determines the gold value. Rupeek currently does not accept gold coins or bars. Our lending partners only accept gold jewelry of 18 carats and above, which is subject to valuation reports for any loan on gold. Gold exists in various levels of purity, ranging from 18 karat to 24 karat. Gold, at these different levels of purity, exists in different forms, also depending on the properties of its alloys. At 18 karat to 22 karat, gold can exist in the form of ornaments, its alloys lending their properties of malleability and ductility to the gold. At 24 karat, gold exists as coins and bars. Rupeek only accepts gold ornaments as collateral. 

Which cities is Rupeek currently operational in?

Rupeek has been in the industry since 2015 and has since been giving urgent and immediate loans to its customers. It has been gaining popularity since its commencement, thanks to the quick, transparent, and hassle-free procedure it follows. It has been operating in over a three thousand location spread over the following cities:

  1. Bangalore
  2. Mumbai
  3. Delhi
  4. Chennai
  5. Kolkata
  6. Ahmedabad
  7. Pune
  8. Hyderabad
  9. Surat
  10. Jaipur
  11. Coimbatore.

Growing by leaps and bounds, it has become India’s largest growing platform for online gold loans. Rupeek is also under a mission to expand to other cities in India as well. It has embarked on a mission to provide the best gold loans at affordable interest rates to people across the country.

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