Low Interest Gold Loans in Indiastarting @ 0.49%P.M. (5.88%* P.A.)

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low interest gold loan

Get a New Gold Loan

IconInstant 30 minuntes

Shift your Existing Gold Loan

IconSave ₹37,131*

We offer the highest per gram rate on our gold loans.

3,545*
lender banks

Gold Loan in Faridabad

Faridabad is one of the largest cities in the NCR region in Northern India. It was named after Shaik Farid, the Mughal emperor who served as the treasurer of emperor Jahangir. He discovered the city and today, Faridabad is known as the crown jewel of Haryana. It is well connected with Gurgaon, Ghaziabad, Delhi and Noida. The eastern side of Faridabad is lined by the river Yamuna, which then flows into mainland UP. It is an industrial hub and is also a big supplier of agriculture to the region. Faridabad is the third fastest growing city in India and is well known for its Henna production, motorcycles, paper factories, refrigerators, steel tubes, tractors, garments and much more. Since it's home to so many businesses, locals here have a huge interest in gold investments. If you’re looking for a gold loan in Faridabad, you will find enough options. Not only are gold loans in Faridabad famous but also tourist destinations such as Anandpur Dam, Nahar Singh Palace, Mughal Bridge, Rose garden, Surajkund, Golf course, and the famous Gymkhana club. It boasts of an excellent vehicular and traffic management system and also has great eateries, street food and restaurants.

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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:

  • Low loan interest rates
    • the interest rates are less because of the security of the collateral.
  • Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  • 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%.
  • No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  • No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  • No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  • Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  • Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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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Gold Loan Calculator

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Frequently asked questions

How is the interest rate calculated for gold loans?

Different lenders offer different rates for gold loans. The interest that is calculated by the lender, the loan amount, as well as the loan term, differs from lender to lender. The schemes that the lenders offer are also different from each other. There are several schemes that each lender offers, comprising of different combinations of the loan amount, the loan term, and the loan interest. You can know about the various schemes that the lender offers by visiting their sites. It should be after a careful evaluation of the scheme that the lender offers and of your financial health that you should narrow down to a scheme that is best suited to you.

What are the documents that I need to submit while applying for a gold loan?

A gold loan only requires you to submit KYC documents for verification before the loan can be processed and disbursed. This includes ID proof and address proof, which can be a driver’s license, Aadhar card, voter ID, PAN card, or passport. Along with this, a utility bill or lease agreement must be provided. One of the main advantages of a secured loan is the minimum documents that it requires. It means that the loans are easy to procure as well as flexible, thanks to the relaxed eligibility criteria. While other sources of funds, such as unsecured loans demand several documents to prove your financial health, a secured loan can be obtained with just the Aadhaar card.

Can I avail EMI facility on gold loan?

Yes, you can avail EMI facility on gold loan in Faridabad. Equated Monthly Installment is the amount that you pay every month to your lender for the loan you have received against your gold. EMI includes both the principal amount and the compound interest. Most of the time while applying for a gold loan online you can use the online gold loan calculator and check the EMI applicable for your loan amount. EMIs are one of the best methods of repayment of the loan. The consistency, as well as the fixed amount in an EMI, makes sure that the borrower doesn’t have to dip into their savings during the course of their gold loan in Faridabad.

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!