sub_locality
Lucknow
indira nagar
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in indira nagar

Indira nagar is a suburban area of uttar pradesh, situated in lucknow. It was produced by the u.p. Group of housing (awas vikas) which is one of asia's biggest colony. Bhoothnath temple in indira nagar is one of lucknow's oldest shrines and has a high religious significance. In the main temple grounds a statue of lord hanuman is built, and on tuesdays people can see a long line of devotees eagerly waiting to give their prayers. Hal accessories company, lucknow, founded in 1970 with the primary objective of manufacturing aircraft systems and accessories for aircraft, helicopters and engines, is also located here. It is also sought after gold loan in indira nagar among the affluent localities and inhabitants.
Today's maximum loan value/gm **
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Gold Loans at the privacy of your home

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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. 

What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

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Frequently asked questions

What happens if the loan amount is not repaid on the due date?

Delay in repayment of loan reflects poorly on the borrower's credit score which affects the borrower's credit health if he/she were looking to avail a subsequent loan in the future. As a borrower your number one priority has to be prompt repayment of loans. Despite that if a borrower is unable to complete gold loan repayments because of unforeseen circumstances, the borrower will face extra charges with jumping interest rates. The loan manager will also be in touch with you to discuss the issue. If the loan amount remains unpaid beyond a stipulated date, the gold will be auctioned off. 

Can I get an interest-free gold loan?

No it is not possible to get zero-interest gold loan in the country as the lenders are in the business to earn some sort of profit. The interest paid by the borrower every month is their profit/charge for borrowing money from them. However various gold loan companies compete in the market for extremely low interest rates to lure customers. The interest rates are calculated based on various factors like loan amount, loan tenure etc., which is upon the discretion of each lender. Banks and NBFCs charge different interest rates and most of them offer a gold loan calculator for customers while applying for gold loan online, where you can calculate the monthly interest amount to be paid.
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