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Gold Loan in islapur

Islapur is a small village located at kinwat taluka in maharashtra state's nanded district, india. Some of the villages in near proximity to islapur are nandgaon tanda (5 km), bhisi (7 km), bhandarwadi (8 km), lingi (9 km) and mangrul (9 km). Islapur is surrounded by kubeer taluka in south direction, kuntala taluka in south direction, boath taluka in east direction and kinwat taluka in north direction. Sahasrakund rail way station, mahimba rail way station are the islapur railway stations that are extremely close by. The village's popular bus stops are pimpalgaon van bus stop, and jannawar railway corner bus stop. Credit is available at the convenience of fingertips so citizens in islapur prefer gold loans over conventional loans.

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.

Benefits of an online gold loan

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:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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Frequently asked questions

Can I increase my loan amount after taking the loan?

Yes, Rupeek can increase your loan amount after you have taken out a loan on gold. Based on the present gold rate, Rupeek will pay you the additional loan amount for your gold. Rupeek is one of the best online providers of gold loan in Nanded. It makes sure that its customers are satisifed with the gold loan service that it provides. All kinds of services that its borrowers request, it tries its best to accommodate. Contact us to learn more. 

Is a gold loan taxable?

Whether or not the gold loan is taxable depends on the reason behind the procurement of the funds and where it is to be invested. If the gold loan is procured for business purposes, it is taxable. On the other hand, if the funds have been obtained for other uses that consittute personal use, such as medical emergencies, house renovation, to sponsor an event or to throw a marriage function, then the borrower cannot claim tax deduction. If the loan has been procured for your personal use, there can be tax deduction. Only as long as it has been procured for business purpose, there is tax deduction.
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