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Jabalpur

Low Interest Gold Loans in India

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Low Interest Loans

Get a New Gold Loan
flash Instant 30 minuntes
Shift your Existing Gold Loan
save Save ₹37,131*

Gold secured by
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lender banks
max LTV

We offer the highest per gram rate on our gold loans.

We offer the highest per gram rate on our gold loans.

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Gold secured by
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lender banks

Gold Loan in Jabalpur

A city in the state of Madhya Pradesh, Jabalpur is bordered by low hill and blessed with enchanting water bodies. Alongside serving as an administrative center, it is also a business and an industrial hub. Jabalpur depends on its industries for its revenue. The industries include garment manufacturing, building materials, electrical goods, steel structures, industrial-safety goods, cinema, cement, etc. Another major source of income for the region is agriculture. The city is also a proud home to four Indian Ordnance factories and one of the largest cantonments in the country. Several army headquarters are located in the region, such as Odisha, Chhattisgarh, Jharkhand, Bihar, and Madhya Pradesh. Jabalpur is the cultural capital of Madhya Pradesh. Snooker is believed to have originated in Jabalpur. Dhuandhar Falls, Marble Rocks, Madan Mahla Fort, Balancing Rock, Rani Durgavati Museum, Chausath Yogini Temple, and Tilwara Ghat are among the major attractive spots for tourist in the area. To meet the cash requirements, the people depend on gold loans in Jabalpur.
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Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

Documents required for an online gold loan

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:

  1. Identity proof – any document such as voter ID, PAN Card, Aadhaar Card, Passport, or driving license can act as the identity proof of the borrower.
  2. Address proof – the same documents as mentioned above, except for voter ID and PAN card can act as the address proof of the borrower.

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.

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Frequently Asked Questions

What kind of repayments can I do?

All kinds of loan repayment options can be done and completed online. No matter what type of repayment of the gold loan in cityname it is that the lender wants to complete, it can be done online. The repayment option that the lender is resorting to complete online can include:

  1. EMI payments – which is the monthly repayment towards the loan
  2. Bullet payment – which is the total bundle of the outstanding principal amount and the interest component at the maturity of the loan.
  3. Closure payment – which is the amount that the borrower pays to receive all their collateral assets back
  4. Part-payment – which is a repayment option where the borrower pays more towards the loan repayment by paying more than the EMI but less than the whole amount to be repaid. The borrower does this in an attempt to close the loan prematurely. 

What about the tenure of the loan, lock-in period, and prepayment penalties?

The factors associated with a loan - such as the loan interest rate, the loan term, the processing charges and the loan amount vary from lender to lender. Different lender offer different schemes to its borrowers. For instance, the average loan term for gold loan at Rupeek is 12 months. But secured loans offer a lot of flexibility in repayment options to its borrowers. To begin with, there are several schemes from which the borrower can pick the option most convenient to them. The borrower can also opt to prepay the loan before the end of the tenure. There are neither any prepayment penalties, nor any lock-in period.

Who can avail Rupeek gold loan?

Rupeek's motto is to make loans easily available to everyone. It is because of this that the eligibility criteria have been intentionally relaxed. That is, any individual above the age of 18 and of Indian nationality is eligible to avail a loan with Rupeek. Since these are secured loans, the applicant is also expected to be in possession of gold with a purity of 18 Karat or above. Ideally, the gold is expected to be of the form of ornaments or jewelry. Gold coins and bars are not acceptable forms of collateral when you are looking to get a loan against gold.

What are the benefits of a gold loan?

Gold loans require the borrower to pledge their gold against the loan. The value of this gold needs to be at least 30% more than the loan amount being availed. In case of an arrear or a failure to repay the loan, the lender assumes full and permanent ownership of the collateral. Owing to this, availing an online gold loan comes with a lot of benefits that include but arent limited to:

1) Speedy Disbursal

2) High LTV (LOan-Value Ratio)

3) Low-Interest Rates

4) Minimal Documentation

5) Relaxed Eligibility Criteria

6) Waived Processing Fee

7) 100% Insurance Cover

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