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Gold Loan in cimap

The area which houses the central institute of medicinal and aromatic plants is popularly known as cimap in lucknow. It is the council of science and industrial research's (csir) frontier plant research laboratory. It was originally founded in 1959 as central Indian medicinal plant organization (cimpo). Cimap conducts high-quality, multidisciplinary studies in the biological and chemical sciences. With its research headquarters at lucknow and research centers in bangalore, Hyderabad, pantnagar and purara, it is expanding technology and services to farmers and entrepreneurs of medicinal and aromatic plants (maps). gold loan is very common and easily accessible in cimap.

What is an online gold loan?

Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.

Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

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Frequently asked questions

What kind of repayments can I do?

All kinds of loan repayment options can be done and completed online. No matter what type of repayment of the gold loan in Lucknow it is that the lender wants to complete, it can be done online. The repayment option that the lender is resorting to complete online can include:

  1. EMI payments – which is the monthly repayment towards the loan
  2. Bullet payment – which is the total bundle of the outstanding principal amount and the interest component at the maturity of the loan.
  3. Closure payment – which is the amount that the borrower pays to receive all their collateral assets back
  4. Part-payment – which is a repayment option where the borrower pays more towards the loan repayment by paying more than the EMI but less than the whole amount to be repaid. The borrower does this in an attempt to close the loan prematurely. 

Can I get immediate cash with gold loan?

Yes, you can get immediate cash with a gold loan in Lucknow with the help of Rupeek. One of the most attractive features of all online gold loans in Lucknow, including Rupeek is that the gold loans can be obtained instantly. Within minutes from the approval of your loan, the loan amount will get disbursed into your account. If you are looking for immediate funds or emergency loans, then applying for a gold loan in Lucknow is your best bet. The security associated with a collateral-based loan such as a gold loan allows the lender to provide the borrowers with many benefits. The whole process when acquiring an online gold loan in Lucknow, from the loan application to the disbursal of the amount, does not take more than an hour. 
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