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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in Habsiguda

Habsiguda stands out from other localities not only due to its popularity in the field of education but also due to its unique name. The locality derives its name from the African and Abyssinian people who stayed there. The area served as cattle grazing ground for the cattle of the Deccan Nizams earlier. It houses some of the finest educational institutions in the state such as the Indian Statistical Institute, the Indian Institute of Chemical Technology and Centre for Cellular and Molecular Biology. The area also boasts the honour of housing many tech, media and other service industries and companies. It is one of the few localities where one could spot the existence of active, state- run courier facilities such as DTDC and FedEx. Mostly, residents take gold loans in Habsiguda to direct the investment towards education in future.

Gold Loans at the privacy of your home

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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.

What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.

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Frequently asked questions

Are all gold items accepted?

Gold exists in different forms, depending on its purity. The purity of the gold is determined by the internationally recognized term, ‘karat’ where the karat is directly proportional to the purity of the gold. The higher the karat, the higher the purity. The 18 karat gold is the cheapest and the least pure form of gold that exists. Its constituents are gold and other alloys that give it the property to be molded into ornaments. Ornaments are made of 18 karat gold or above. The purest form of gold is 24 karat gold. In its purest form, it exists as coins or bars. Rupeek accepts only gold that is in the form of ornaments. This is because the banks Rupeek have partnered with only accept gold ornament and not gold coins or gold bars.

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

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 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.

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