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Gold Loan in goraya

Goraya is a district in punjab, in jalandhar. It lies between nh stretch phagwara and phillaur - 44. It is a small town housing about 15,000 residents (as per census for 2001). Every year the area encounters dry conditions during july-august with a fleeting rainfall. There are several government and private schools and colleges covering the district. The appearance of temples, mosques, and gurudwaras all over produces a optimistic atmosphere. Moreover, these establishments serve as some of the zone's tourist hot-spots! for its inhabitants these services foster self-sufficiency. In goraya, people sometimes apply for gold loans to meet personal and technical requirements.

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

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.

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Frequently asked questions

Can I partially repay the gold loan amount?

Yes! Since Rupeek strives to provide affordable solutions for everyone, we provide the flexibility to repay your loan amount as per your convenience. If the borrower wishes, he/she can choose to repay their gold loan in part. This partial repayment option is also known as part release of a gold loan. The partial repayment amount can vary between monthly interest and full-closure amount. However, the gold jewelry or ornaments pledged will be returned only after the entire loan amount is repaid.

Can I get immediate cash with gold loan?

With Rupeek, of course, you can! As opposed to other loans like personal loans, housing loans, or auto loans, a gold loan in Jalandhar is one of the most convenient types of loans because of how short the loan processing time is. If you are looking to borrow a loan rendering immediate cash then applying for an online gold loan in Jalandhar is probably the best option you could avail in the loan market. The most immediate loan you could ever avail is gold loans. On the lender's website, you can fill out the application form, post which gold loan process will be initiated on the lender's end by checking your credit score, KYC procedure and the money will be credited in your bank account almost instantly. 
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