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Gold Loan in jaripatka

Jaripatka is in the indian state of Maharashtra, in nagpur. Some of the major hospitals in nagpur, such as rughwani child care hospital, alex hospital, punshi hospital, and janta maternity home and hospital, are located in this area. Central nagpur institute of mine planning and design is located in this area. This place also has a government medical college, making schooling easier for the kids in this town. Getting educated with the gold loan facilities in jaripatka has been made easier. Nagpur's ginger mall is also located in this location, thus serving as a good entertainment venue for the locals. For worshippers the place has several mandirs. With all those colleges and hospitals, it's fair to say it's one of nagpur's most popular locations.

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.

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. 

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Frequently asked questions

What do I do if the displayed information regarding my gold loan interest is incorrect?

If you have logged into the Rupeek app or the payment portal on the website, your profile will reflect your the terms of your loan including the pending loan amount. If your lender has displayed a personal detail or financial data incorrectly, it should be fixed by immediately by raising a complaint with the lender and submitting relevant proofs of payment to build your case. For rebate schemes, you will be able to see your base scheme interest (as per the highest interest slab as mentioned in your pledge card) and post-rebate interest amount on the 'Repay your Loan' page. The interest is calculated automatically considering the rebate schedule and your repayment history.

Are there any charges levied for late payment of interest?

Yes, lenders usually charge a penalty fee on failure of repayment of the gold loan in Nagpur. This charge will be added to the next monthly payment. On failure of repayment of the next payment as well, the lender will be forced to hand over the matter to the respective loan managers. They are likely to be harsh with the borrowers to make sure that the repayments are done on time. In order to avoid any such circumstances in the future, the borrower has to take care not to miss out on payments or delay the payments. The EMI payment has to be a priority of the borrower.

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