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Gold Loan in chepauk

A popular town in Chennai , Tamil Nadu, is Chepauk. Its name is popularly used in the sense of addressing the M.A. Chepauk Stadium is the Chidambaram International Cricket Stadium. It is part of the Chepauk-Triplicane assembly, which is part of the Chennai Lok Sabha Constituency. In order to travel around the region, the railway & buses operate as excellent transport modes.Host to the famous Chepauk Palace, the University of Madras, and the Central Research Laboratory, it attracts, for visitation and residential purposes, a significant population of visitors, students, and academic professionals, respectively. People apply for gold loans in Chepauk in order to appeal to personal requirements.

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

* Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

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

How does gold loan work?

Gold loans are those loans that require you to secure your credit amount with collateral, collateral in this case being gold. Lenders usually only accept gold in the form of jewelry or ornaments as opposed to gold coins or bars. It is noteworthy that the gold valuation is almost always different from the market value. This is because the lender arrives at the gold gram rate based on the average rate from the past 30 days. The loan amount that you are eligible to receive depends on the valuation of your gold. This amount is then transferred to you within 10 minutes. 

Can I partially repay the gold loan amount?

Gold loans in Chennai are pervasively availed because of how flexible they are. Rupeek especially strives to provide affordable solutions and offers borrower's the opportunity to partially repay your gold amount. Yes, that's right! This process of partial repayment is known as part release of the gold loan. If you wish to complete a partial repayment on the loan, the amount can range between the monthly interest and any amount less than the full-closure amount. However, gold jewelry or ornaments you pledged as collateral will only be returned once the entire loan amount has been repaid completely.
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