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Coimbatore
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Coimbatore
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in coimbatore tidel park

Set up in 2006, Coimbatore TIDEL Park is the biggest information technology park in Coimbatore. It is the result of a joint venture established between the Tamil Nadu Industrial Development Corporation (TIDCO) and the Electronics Corporation of Tamil Nadu (ELCOT). TIDCO and ELCOT came together to form the TIDEL Park. The Coimbatore TIDEL Park happens to be the largest single building IT Park in India in terms of area as it is built across 9.5 acres. Situated in ELCOT SEZ this park is just 4 km from the Coimbatore International Airport and is close to the Avinashi arterial road. A few companies whose employees are likely to avail an gold loan in Coimbatore TIDEL Park are Wipro Limited, Tata Consultancy Services, HCL Technologies, Bosch, and ASEC.
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We offer the highest per gram rate on our gold loans.

Today’s max loan value/gm () **

Today’s max loan value/gm ()
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Gold Loans at the privacy of your home

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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.

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

Can I close the gold loan earlier than intended?

Yes, you can choose to close the gold loan earlier than originally planned if you prefer. Whether or not you have to pay additional charges due to this depends on your lender. Rupeek for instance doesn't levy any lock-in period or prepayment penalties in case of early repayment. Whereas some other lenders might have small penalties ranging up to 200 rupees if you wish to foreclose your loan account before 3 months or 1 month, the lock-in period set upon the respective lender's discretion. The penalty also depends on the loan amount availed.

What is an LTV?

An LTV abbreviated as Loan-to-Value ratio is a financial term used by the lenders to basically assess the risk before approving a loan to the customer. It determines the relationship between the loan amount to be granted and the value of the asset pledged, in the case of gold loans, the value of the gold ornaments. Lenders can obtain up to 75% of the value of the pledged gold as the loan amount. The gold valuation is done by the lender and the amount that can be obtained can be calculated online, on the web portal of the lender, including Rupeek.
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