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Jamshedpur

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
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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 Jamshedpur

The industrial city of Jamshedpur is one of the earliest planned Indian cities. The city’s roots are strongly connected to heavy metals, literally as well as metaphorically. This city in Jharkhand was founded by Jamshedji Nusserwanji Tata, the founder of Tata groups. The city was initially named as Sakchi but it was later changed as Jamshedpur by Lord Chelmsford in 1919 since he wanted to honour the founder of the city. Jamshedpur is home to multiple industrial plants ranging from prominent companies like Tayo Rolls Limited, Tata Powers, Tata Cummins Pvt to Timken India, JUSCO. The residents of the city are interested in the yellow metal as much as the steel plants. Gold loans are availed by many and people often check on the market. The city might be flooded with industries but locations such as the Bhubaneshwari Temple, Hudco Lake, Jubilee Park, Sir Dorabji Tata Park and Rivers Meet retain the city’s tranquility.
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Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

Eligibility criteria for an online gold loan

Since a gold loan is a secured loan, it offers many benefits that the other sources of funds do not offer. Some of the benefits offered by a gold loan include:

  1. Low rate of interest
  2. Minimal documentation
  3. High loan amount
  4. Flexibility in repayment options
  5. Instant loan approval, etc.

The requirement for eligibility for a gold loan isn’t much. To avail a gold loan, the borrower has to fulfill the below-mentioned criteria:

  1. The borrower shouldn’t be a minor
  2. The mortgage loan should be of 18 karat or above
  3. The gold should be in the form of ornaments or jewelry.

The loan amount is then calculated by the lender by multiplying the quality, purity, and weight of the gold. The lender then multiplies it with the average price of gold for the past thirty days. The resultant amount id the loan amount that the borrower can borrow.

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Frequently Asked Questions

How do I repay the gold loan?

There are several repayment options from which borrowers can pick the one most suited to them. The gold loan in cityname can be repaid as a bullet payment at the end of the loan term, together with the interest amount as well as the principal amount. It can also be paid as EMIs and even as a prepayment. The loan amount can be repaid in the form of cash, cheque, DD, or card. Using Rupeek’s loan repayment portal, the loan amount can be repaid in just three simple steps. You can log in with the OTP sent to the registered phone number. The gold loan repayment can then be completed from your profile.

Can I close the gold loan earlier than intended?

Yes, you can choose to close the gold loan earlier than originally planned if you prefer. Whether or not you have to pay additional charges due to this depends on your lender. Rupeek for instance doesn't levy any lock-in period or prepayment penalties in case of early repayment. Whereas some other lenders might have small penalties ranging up to 200 rupees if you wish to foreclose your loan account before 3 months or 1 month, the lock-in period set upon the respective lender's discretion. The penalty also depends on the loan amount availed.

Can I partially repay the gold loan amount?

Gold loans in <cityname> are pervasively availed because of how flexible they are. Rupeek especially strives to provide affordable solutions and offers borrower's the opportunity to partially repay your gold amount. Yes, that's right! This process of partial repayment is known as part release of the gold loan. If you wish to complete a partial repayment on the loan, the amount can range between the monthly interest and any amount less than the full-closure amount. However, gold jewelry or ornaments you pledged as collateral will only be returned once the entire loan amount has been repaid completely.

Do I need to update the bank in the event of a change in address due to relocation or any other reason?

Yes, if at all you shift your house or your location address changes you need to promptly notify the lender, bank whose loan managers will come to that address hereafter for all purposes until closing of the gold loan in cityname. Your address proof is an important document that you have to submit before you are given a loan. If there is a change in the document as submitted with the lender, you are obligated to inform the lender of this change. Your address proof is an important factor, as long as a loan in concerned. The lender may even send an official from the company to verify your new address.

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