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:
A gold loan is the perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:
Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.
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.
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