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The pride of the Bahamani Dynasty, Gulbarga, is an ancient city in Karnataka. The historic landscape of Gulbarga is dotted with archaeological marvels in every nook and corner of the city. The architectural styles incorporated in heritage centres such as that Gulbarga Fort, Khawaja Bande Nawaz Dargah, Jama Masjid, Jevargi and Sharana Basaveshwara Temple are reflective of exquisite craftsmanship and architectural marvel. The tourism industry is a major contributor to the city’s wealth. Thousands of people visit Gulbarga during festivities to experience the city’s rich culture. Urs festival at the tomb of Khwaja Bande Nawaz is a prominent cultural and spiritual event. Gold jewellery and utensils are used during festivals to showcase people’s rich and glorious heritage. Hence, people are often dependent of gold loans. Gulbarga is accessible and well- connected to other parts of the state through rail, road as well as air networks. Sholapur is the closest airport to the city.


An **online gold loan** offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a [gold loan only with the Aadhaar Card](https://rupeek.com/blog/how-to-get-a-gold-loan-with-your-aadhar-card-explained/).



## Benefits of 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:

- Low rate of interest
- High-value loans
- [Minimal paperwork](https://rupeek.com/blog/how-to-get-a-gold-loan-with-your-aadhar-card-explained/)
- Flexible repayment options
- 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.



## What is an online gold loan?



LTV abbreivated as Loan-to-Value Ratio is the financial term used by the lender to asses the risk of lending you a gold loan in Gulbarga by determining the relationship between the loan amount and the value of the pledged collateral. Borrowers can ideally avail up to 75% of the value of the pledged gold as the loan amount. The loan amount that will be obtained by submitting the borrower’s collateral gold can be calculated online. Several lenders, including Rupeek provide this facility online.


## What is an LTV?


Gold loans come equipped with several benefits. One of the most important factors that make gold loans so flexible is the fact that it only requires minimal documentation to be eligible for a gold loan. The only [KYC documents](https://rupeek.com/blog/a-handy-guide-to-the-documents-required-for-gold-loans/?utm_source=SB) required are any form of proof of identification and address proof. This includes:

1) Aadhar Card

2) PAN Card

3) Voter's ID

4) Passport

5) Utility Bill

6) Lease/Rental Agreement

 This minimal documentation requirement makes it easy to avail gold loans. Unsecured loans demand several documents to prove your income profile whereas [a secured loan can be obtained with just the Aadhaar card](https://rupeek.com/blog/how-to-get-a-gold-loan-with-your-aadhar-card-explained/?utm_source=SB).

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





Yes, you can take more than one loan against gold at a time. In the case of a secured loan, it is the collateral that determines how much funds the borrower can obtain in the form of a gold loan in cityname. If the borrower has further collateral that can be submitted with the lender in exchange for cash, it is possible to do that. By pledging his asset, the borrower can get upto 75% of the market value of the gold as funds. Since a secured loan is secured with an asset of the borrower that can be sold in case of failure of repayment, the lender will not hesitate before sanctioning the loan. 


## Can I take more than one loan at a time?




Lenders are specific about the kind of loans that they specialise in. For example, a lender that deals in online gold loans, only stick to online gold loan. [Rupeek](https://rupeek.com/?utm_source=SB) only provides the service of online gold loans and they specialise in them, offering their customers one of the best services that include [low interest rates](https://rupeek.com/interest-payment??utm_source=SB), high [loan amount](https://rupeek.com/calculator?utm_source=SB) as well as [flexible loan repayment options](https://rupeek.com/blog/things-to-know-about-your-gold-loan-repayment/?utm_source=SB). In fact, Rupeek offers one of the best and the fastest-growing online gold loans in the company. Rupeek also only accepts gold collateral that is in the form of ornaments. While gold also exists as coins and bars, Rupeek only deals in gold ornaments since its partner banks only accept ornaments. 
