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Gold Loan in cheruthuruthy

Known for its natural beauty, Cheruthrukuthy is a wondrous village stationed along the banks of the Nila river. The internationally acclaimed centre for performing arts is always bustling with students from India and abroad. Gold loans in Cheruthuruthy has fullfilled countless aspirations of budding students. A few important religious places of this region are Kozhimamparambu Bhagavathy temple, Nedumpura Kulasekharanellur Siva Temple, Nedumpura Chirakkulangara temple, Kaipanchery Narasimhamoorthy temple, Pangavu Siva temple, St.Thomas Church and Juma Mosque. Other major tourist attractions include Vallathol Museum, Siva Temple and Kochin Bridge.Vallathol Nagar railway station, Wadakkanchery Railway Station and Shoranur Railway Junction are all easily affordable.

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.

Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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Frequently asked questions

What are the different gold schemes available at Rupeek?

Rupeek is one of the best online gold loan platforms that makes sure that it provides its borrowers with flexible repayment options so that they do not have to land themselves in trouble over repayment of the loan. Rupeek offers its borrowers with a range of schemes from which the borrower is free to pick that is best suited for them. Rupeek takes into consideration the convenience of the borrower to evade any problems in the future. Three different schemes under each amount are available when opting for a gold loan under Rupeek. It is listed in the table below.

Amount

Interest rate

Less than 2 lakh

The interest rate is at 1.29% at the lowest and 1.69% at the highest.

Between 2 lakh and 5 lakh

The interest rate can range between 0.99% and 1.59%

Between 5 lakh and 20 lakh

The interest rate can be as low as 0.89% and as high as 1.39%

Above 20 lakh

The interest rate falls between 0.89% and 1.39%.

Under each loan amount, Rupeek offers you a range of choices to pick from. They are classified into three:

  1. High-value loan (which has the lowest interest rate)
  2. Max value loan
  3. No tension max value loan (which has the highest interest rate)

Can I close the gold loan earlier than intended?

Yes you can close the gold loan in Thrissur earlier than the tenure as long as your lender has no lock-in period or prepayment penalties in place. Whereas some other lenders might have small penalties ranging up to 200 rupees if you wish to foreclose your loan account 3 months or 1 month before the lock-in period set upon the respective lender's discretion. The penalty also depends upon your loan amount. However, Rupeek does not levy any amount from its borrowers if they wish to close their loan account prematurely. Rupeek always makes sure that its borrowers are provided with the most convenient and hassle-free options regarding their gold loan in Thrissur.
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