Low Interest Gold Loans in Kakinadastarting @ 0.49%P.M. (5.88%* P.A.)

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low interest gold loan

Get a New Gold Loan

IconInstant 30 minuntes

Shift your Existing Gold Loan

IconSave ₹37,131*

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

3,548*
lender banks

Gold Loan in Kakinada

Kakinada is a sprawling port city in the state of Andhra Pradesh. It lies along the coast of the Bay of Bengal. It was once ruled over by the Dutch and later by the British. A trading city once upon a time, this well planned and peaceful city has been called a ‘Pensioner’s Paradise’. Depended mainly on agriculture, industrial units, and the Kakinada Port, the city also hosts many IT companies. On the region also is fixed the base for ONGC’s Eastern Offshore Asset. There are various income opportunities for people from all walks of life. The region is also home to some of the most prominent stars from the Telugu film industry as well as for some renowned scholars. The most frequented tourist destinations in the vicinity of the region include Shri Bhavanarayana Swamy Temple, Coringa Wildlife Sanctuary, Kakinada Beach, Hope Island, and Uppada Beach. One of the most popular music festivals in the region is the Kakinada Beach Festival, which is held annually. To meet the financial requirements, people opt for gold loans in Kakinada.

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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:

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:

  • The borrower shouldn’t be a minor
  • The mortgage loan should be of 18 karat or above
  • 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.

Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

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Gold Loan Calculator

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Frequently asked questions

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

It wouldn’t take more than an hour for you to get your online gold loan. One of the specialties of an online gold loan is its speed. The funds will get disbursed into your account within one hour from the time of the loan application. To get an online gold loan, follow the given steps:

  • Download the lender’s app or visit their web portal. You can also call up at the customer care service. Request a loan.
  • An official will get in touch with you via phone to schedule an appointment.
  • Usually, within thirty minutes from the phone call, the company representative will show up at your doorstep. Your gold will be evaluated and your documents will be verified.
  • The loan interest, loan amount, and the loan term will be calculated and set.
  • Your loan will be approved.
  • Within minutes, the amount will be transferred into your account.

Usually, the request for the loan amount to the disbursal of the funds do not take more than an hour. A gold loan is one of the easiest and the smoothest ways to get emergency funds.

What happens if the loan amount is not repaid on the due date?

Delay in repayment of loan reflects poorly on the borrower's credit score which affects the borrower's credit health if he/she were looking to avail a subsequent loan in the future. As a borrower your number one priority has to be prompt repayment of loans. Despite that if a borrower is unable to complete gold loan repayments because of unforeseen circumstances, the borrower will face extra charges with jumping interest rates. The loan manager will also be in touch with you to discuss the issue. If the loan amount remains unpaid beyond a stipulated date, the gold will be auctioned off.

Is there any age limit to avail a gold loan?

Lenders have their age eligibility criteria on individuals that are applying for a gold loan. Some lenders require the borrower to be a minimum of 18 years while some require the borrower to be 21 years of age and some have a limit of 65 years while others have 75 years as the age limit. However, largely, if you are an Indian citizen, above the age of 18 and possess the required KYC documents and gold, you can avail of a gold loan. The eligibility criteria for a gold loan in Kakinada is less compared to other sources of funds. As long as you are above 18 years of age, and the gold that you are providing as collateral is above 18 karat gold, you are eligible to get a gold loan. Normally, the gold that you keep as collateral can only be in the form of ornaments.

Why should I take a gold loan with Rupeek?

Rupeek strives to provide solutions to all your gold loan problems, which is why we provide doorstep services to all our customers. We offer unique and instant gold loan solutions with the best rates in the market. Our interest rates are as low as 0.89%, and we offer flexible repayment schemes as well to make gold loans affordable and convenient for all. We also offer 100% insurance cover for your ornaments. Unlike other sources of funds such as an unsecured loan, Rupeek requires minimum documentation. Rupeek doesn’t require its lenders to have a fixed income or a perfect credit score. This means that even if you are unemployed, do not have a stable source of income or if you have a poor credit history, the option to get urgent loans with a gold loan is still available to you.