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Gold Loan in K.G Koppal

Kannegowdana Koppal is famous as K. G. Koppal and it is a locality in Chamarajapura, Mysore, Karnataka. The region got its name from a renowned wrestler named Kannegowda. Chamarajapura is one of the oldest locality in Mysore and it is situated in the centre of the city. Mysuru University or The University of Mysore is situated in this locality. During the rule of Krishnaraja Wodeyar IV, who was the Maharaja of Mysore, this university had been found. Students from all over India come for studying in this public state university. In order to meet the daily expenses, these students rely on a gold loan in K G Koppal.

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.

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

* Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

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Frequently asked questions

How is gold appraisal done at home for online gold loan?

When you want to get a gold loan, the two most important factors that need to be verified and validated are your KYC documents and your collateral asset, which in this case, is the gold. An official from the lending company will be sent to your house to accomplish both the tasks. For the gold valuation, the representative will weigh your gold. It should be taken care that the pledged gold has to be in the form of ornaments and not in the form of coins or bars. The quality of the gold will be appraised before your eyes, through industry-standard tests. Details regarding the gold – such as its weight and price will be uploaded in the company’s system. Once these details are approved by the approval team online, the official will proceed with the rest of the process.

How long will it take for me to get my gold loan?

Aside from the range of flexibility available, another important feature of a gold loan is the speed at which these loans are approved and disbursed. Once the loan request has been placed, a Rupeek executive will arrive at a location of your preference to verify your KYC documents and value your gold. Once the executive has determined your eligible loan amount, the amount will be credited to your account within 10 minutes! The entire process from the point of submission of the loan application to loan disbursal takes approximately just about an hour! 
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