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Gold Loan in dharmabad

Located in the Nanded district of Maharashtra, India, Dharmabad is a town and a metropolitan council. It is located close to the border of Telangana State. Dharmabad is closely connected to Mumbai, the state capital, Hyderabad, the capital of the neighboring state Telangana, and other important urban areas such as Nizamabad, Nanded and Secunderabad by train. Dharmabad is one of the largest revenue-generating stations on the Southern Central Railway. Dharmabad is also connected to other urban areas through the MSRTC bus service. For tourists who want to visit Lord Vitthal-Rakhumai, there is a bus from Dharmabad to Pandharpur. Gold loans in Dharmabad are much favoured by the residents since it is easier to avail them with the required term and tenure at their convenience.

Eligibility criteria for an online gold loan

Since a gold loan is a secured loan, it offers many benefits that the other sources of funds do not offer. Some of the benefits offered by a gold loan include:

  1. Low rate of interest
  2. Minimal documentation
  3. High loan amount
  4. Flexibility in repayment options
  5. Instant loan approval, etc.

The requirement for eligibility for a gold loan isn’t much. To avail a gold loan, the borrower has to fulfill the below-mentioned criteria:

  1. The borrower shouldn’t be a minor
  2. The mortgage loan should be of 18 karat or above
  3. The gold should be in the form of ornaments or jewelry.

The loan amount is then calculated by the lender by multiplying the quality, purity, and weight of the gold. The lender then multiplies it with the average price of gold for the past thirty days. The resultant amount id the loan amount that the borrower can borrow.

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

Is part withdrawal of gold Jewellery allowed post part closure of gold loan?

No you cannot withdraw your pledged gold ornaments with a part payment as most lenders do not allow it due to chances of fraudulence. The gold pledged is like a surity for the lender that assures your repayment of borrowed loan amount. However making part payments of both principal and interest is allowed. Only when the entire principal and interest amount is repaid and the gold loan in Nanded is deemed close, the loan manager will hand over the pledged gold ornaments to you and obtain an acknowledgement from you.

What payment methods are available for me for online gold loan?

Most lenders provide round-the-clock assistance if borrowers ever need it, to complete their gold loan repayment successfully or to pay their interest through their payment portal on the website or the app. The Rupeek team especially is only a phone call away! But irrespective of the platform you choose to make your payment on, both platforms offer the following modes of repayment:

1) Internet banking 

2) Debit card 

3) UPI 

4) Money transfer using RTGS/IMPS 

5) NEFT

Since all the options require the digital transfer of money, the borrower must have a bank account under his/her name.

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