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Last Updated :
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:
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.
We’re passionate about making the Rupeek gold loan experience simple, smooth & happy for every customer.
I was paying double the interest with my earlier Gold loan company. I shifted to Rupeek and saved more than Rs. 40,000 due to Rupeek’s low interest rate. Thank you Rupeek.
Excellent experience the team was completely educated about covid-19 and took all the precautions. Good communication and supportive nature.
Franchise Owner, 33
Very good interest rates. I was paying double the interest in my previous gold loan company. Shifting helped me save Rs. 40,000. The branch is also near my place.
Shop owner, 37
I m very happy with the Rupeek schemes. Also the Loan Manager is supporting and helped me with understanding all processes as well.
Retail Business, 35
I am very happy to be associated with Rupeek, they have a transparent process and there is no hidden charge of any kind.
Business Owner, 48
Excellent service. Received what was promised with complete transparency and hassle free service.
Restaurant Owner, 36
The best trustworthy service with easy loan transfer system, Rupeek is safe and genuine.
A gold loan is a type of collateral-based loan. A collateral-based loan is one that requires the borrower to submit their collateral (in this case, gold) before the lender. This makes their loan secured. The security of the loan also benefits the borrower in many ways, such as:
A secured loan also makes it possible for the lender to disburse more funds. Up to 75% of the market value of the pledged gold can be disbursed in the form of loans. In some cases, the borrower also obtian 90% of the market value of the loans as collateral.
Rupeek provides one of the highest gold loan amount per gram in the market. It offers one of the lowest loan interest rates of 0.89%. Additionally, the loan terms are one of the longest you can ever find! Borrowers can avail various online schemes depending on your repayment capabilities. This gives the borrowers the latitude to choose whichever scheme suits them best. These schemes are classified into four categories depending on the loan amount.
1) Loans below 2 lakhs
2) Loans between 2 lakhs - 5 lakhs
3) Loans between 5 lakhs -20 lakhs
4) Loans above 20 lakh
It is noteworthy to identify that the loan amount is inversely proportional to the interest rate increases. The schemes available also vary based on the various loan amounts
1) High-Value Loans
2) Max Value Loans
3) No Tension Max Value Loan.
The loan interest rate ranges between o.898% - 1.69% This is decided based on the loan amount you are looking to borrow.
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