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Erode
chennimalai
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in chennimalai

The Chennimalai city, located 281 metres above sea level, is a town in the Erode district of Tamil Nadu. There are several cinema halls in the city, including the Murugan Theatre, the Annamar Theatre, and the Maha Laxmi Cinema Theatre, where people go to see the latest films. Posari Temple and Inthira Vinayagar Temple, where devotees go to pray, are popular temples in the area.Dr. R.A.N.M Arts, MPN Engineering College, Vidhya Mandhir Technology Institute, are the educational institutions in the locality. Ramakrishna Matriculation School, Middle School of Government, and Academy One. In Chennimalai, the local PWD office is also located. While the region has all the latest facilities and the town is thriving, there are still many expectations for individuals. Thus, to fulfil their ambitions, they choose to take up a gold loan in Chennimalai.
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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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What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

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Frequently asked questions

Is a gold loan taxable?

Though gold loans can be spent as per the discretion of the borrower, whether or not your gold loan is taxable primarily depends on the purpose for which it is being availed. For instance, gold loans that are availed for business purposes are taxable. Additionally, a tax rebate can be claimed on the interest component as well. However, this is not the case if the gold loan is being availed for personal use. That is if the loan is being availed to be spent on educational purposes, a wedding, medical emergencies, purchase a vehicle, or remodel your house, then the borrower cannot claim a deduction.

How long will it take for me to get my gold loan?

Not only is our process to apply for gold loan quick and easy, but our loan disbursal is too. When you apply for an online gold loan with Rupeek, you can expect instant loan disbursal after the KYC documents have been verified and the loan agreement has been signed, which can all be completed in 30 minutes. Not only is our process to apply for a gold loan quick and easy, but our loan disbursal is too. When you apply for an online gold loan with Rupeek, you can expect instant loan disbursal after the KYC documents have been verified and the loan agreement has been signed, which can all be completed in 30 minutes. You can take the loan both online as well as offline. The borrower can download the app and place a request. A request can also be placed by calling their customer care desk. A company official will then shortly show up at your doorstep to validate the documents and the gold. After the successful verification, the loan is approved. Immediately the loan amount will be transferred. The whole process doesn’t take more than an hour.

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