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Gold Loan in chikkabanavara

Chikkabanavara is home to one of the hugest water bodies in Bangalore, the Chikkabanavara Lake. This area falls under the Dasarahalli jurisdiction and the Bangalore North parliamentary body electorate. The closest railroad station is Chikka Banavara Junction, and the Kempegowda International Airport is around 37kms away. One of the most arterial roads in this region are the Hesarghatta Main Road, which ensures connectivity to different parts of Bangalore. The BMTC forms a seamless network of transportation to areas such as KR Market, Majestic, Kengeri, KR Puram, Peenya, Jalahalli, Vijaynagar. The significant clinics in that can be found in this area are Sapthagiri Hospital, N P R Hospital,Sri Maruthi Nilaya, and Chikkabanavara Government Primary Healthcare Center. Citizens turn to gold loans in Chikkabanavara, as it is the most effortless approach to get quick cash.

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!

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

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Frequently asked questions

My payment has failed, what do I do?

If you have applied for an online gold loan, the lender will send you regular reminders before your payment is due. If you have set up an auto-debit from your account and if due to some unfortunate circumstance, if the incorrect amount gets debited from your account, it should automatically be reversed within 72 hours or according to your bank’s guidelines. In case your choice of payment method was NEFT, the refund process may take longer. If you require further assistance, you can always reach out to the lender's support team. We at Rupeek especially are just a call away and always happy to help!

What kind of repayments can I do?

Borrowers have the flexibility to choose from different types of gold loan repayment schemes. These include Interest payments, Closure payments, and Part payments.

1) Interest payment: Interest payment is the method of repayment in which the interest you need to pay on your principal is paid on a monthly basis.

2) Closure payment: Closure payments is the method of repayment in which the jewelry you have pledged is returned once the closure payment is made.

3) Part-payment: Part payment is the method of repayment in which you can make at any point in time which is more than the interest payable for that month 

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