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

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3,545*
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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 Guntur

Located to the right of the river Krishna, Guntur is one of the most populous cities in coastal Andhra Pradesh. The city being a part of the Andhra Pradesh Capital region has a coastline of over 100 kms and is bordered by the districts Nalgonda, Mahaboobnagar, Prakasam and Krishna and the Bay of Bengal. People and business groups rely on gold loans in Guntur for their financial purposes.Their primary source of revenue is agriculture and some of the crops that are produced in great quantities are Groundnut, Paddy, Cotton, Jowar, Sunflower, Red Gram, Green Gram, Maize, Bajra, Coriander and Chillies. One of the specialties of the city is the Red Chili market yard which is the biggest yard of its kind in Asia. The city also has amusements like forts, parks and temples and the most celebrated ones are the Kondaveedu Fort, Jinnah Tower and Uppalapadu Bird Sanctuary. Guntur figures significantly in the sports map of India. Some of the famous sports preferred in the city are badminton, swimming, volleyball, boxing, athletics and cricket.

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Eligibility criteria for an online gold loan

As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-

1) Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.

2) You must be an independent major, that is of the age 18 or above

3) Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.

4) The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)

It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days.

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

  • Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to:

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

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Frequently asked questions

What is gold loan renewal and how is it done?

Rupeek strives to provide flexible, convenient, and affordable solutions for everyone. Most of the gold loan schemes available are of short tenure and our generally one of the below three:

1) 3 Months

2) 6 Months

3) 12 Months

Some lenders give the customers the option to extend the tenure of their loan. This process of availing an extension is known as gold loan renewals. It is noteworthy that your lender might levy a renewal fee if you choose to transfer your loan.

Can I get immediate cash with gold loan?

Yes, you can get immediate cash with a gold loan in Guntur with the help of Rupeek. One of the most attractive features of all online gold loans in Guntur, including Rupeek is that the gold loans can be obtained instantly. Within minutes from the approval of your loan, the loan amount will get disbursed into your account. If you are looking for immediate funds or emergency loans, then applying for a gold loan in Guntur is your best bet. The security associated with a collateral-based loan such as a gold loan allows the lender to provide the borrowers with many benefits. The whole process when acquiring an online gold loan in Guntur, from the loan application to the disbursal of the amount, does not take more than an hour.

How do I repay the gold loan?

Repaying a gold loan is just as easy as applying for one. However, repayment schemes do differ from one lender to another. Certain lenders allow you to make your repayment at the end of your loan tenure, whereas some others require you to pay it in part as EMI. This payment can be made via cash, cheques, DDs, or Cards. Repayments with Rupeek are made as easy as ABC! This can be done either on the payment portal or the app. All you'll have to do is log in using the OTP sent to your registered mobile number, navigate to the payment page, and complete your repayment.

Is a gold loan taxable?

Though gold loans can be spent as per the discretion of the borrower, whether or not your gold loan is taxable primarily depends on the purpose for which it is being availed. For instance, gold loans that are availed for business purposes are taxable. Additionally, a tax rebate can be claimed on the interest component as well. However, this is not the case if the gold loan is being availed for personal use. That is if the loan is being availed to be spent on educational purposes, a wedding, medical emergencies, purchase a vehicle, or remodel your house, then the borrower cannot claim a deduction.