close btn

Service Update- (Covid-19)

In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

Gold Loan in chickpet

One of the oldest neighbourhood in the entire city of Bangalore is Chickpet. Retail and wholesale shops are what this place is most famous for. The stalls and shops of Chickpet sell pretty much everything from clothing and jewellery to books and antiques. This is the reason why people often look forward to opening their shop in this area. The wholesale outlets are a perfect place for purchasing bulk items and people even prefer going with this option. Due to a huge amount of competition, the shopkeepers in this area have to struggle a lot. To become successful in this market, they have to always stay one step ahead of others. In such cases, somewhat urgent need of cash is nothing new. Instead of going with the long processes of loan, people like to go with some hassle-free option without much requirement of documentation. A gold loan in Chickpet is something that is preferred a lot by people.

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. 

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.

Rupeek ad

Gold Loan Calculator

Frequently asked questions

Is there a possibility of damage to the ornaments at the time of appraising?

We are very respectful of your gold and take all the necessary precautions during appraisal of the same. While you might have your fair share of concerns as a borrower, Rupeek adheres to supreme safety standards and will ahndle your gold utmost care. And whats more, you can witness this in person ! Your gold is evaluated right in front of your eyes in your homground. Post evaluation, your gold will have a 100% insurance cover as long as it is in our possession.

How is gold appraisal done at home for online gold loan?

When you want to get a gold loan, the two most important factors that need to be verified and validated are your KYC documents and your collateral asset, which in this case, is the gold. An official from the lending company will be sent to your house to accomplish both the tasks. For the gold valuation, the representative will weigh your gold. It should be taken care that the pledged gold has to be in the form of ornaments and not in the form of coins or bars. The quality of the gold will be appraised before your eyes, through industry-standard tests. Details regarding the gold – such as its weight and price will be uploaded in the company’s system. Once these details are approved by the approval team online, the official will proceed with the rest of the process.
Rupeek ad
gold img
Apply for Gold Loan 30 Minutes Doorstep Service
close
+91
Please enter valid Mobile Number
close
success img

Loan Request Successful

Your request has been received, our customer relationship manager has been notified and will call you shortly