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Kochi
kakkanad
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in kakkanad

The Cochin Special Economic Zone and Infopark are the icons of Kakkanad, renowned for being a major economic zone. Kakkanad has developed as the industrial base of Kochi from being a historically important location where economic activities are very prevalent. Given the economic upswing, there are a number of residential developments in the locality that invite the nearby working sector to do so.Personal loan companies are interested in the varied population in this area, which needs gold loans in Kakkanad for multiple modern day activities. The people of this town, being a part of a diverse society, go in the direction of a promised future.
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Gold Loans at the privacy of your home

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What is an online gold loan?

Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.

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.

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Frequently asked questions

Is a guarantor or introducer required for availing a gold loan? Do I need to open an account with a bank?

For most companies, including Rupeek, a guarantor is not a requirement to avail of a gold loan in cityname. When it comes to secured loans, there is a minimum requirement that the borrower has to meet. This is because the security of the collateral allows the lender to provide several benefits and flexibility to its borrowers. But a bank account is necessary even in the case of a secured loan. This is because a secured loan requires its borrower to hold a bank account to which the loan amount can be disbursed. It is also through this account that the borrower is expected to repay the loan amount.

What is KYC? Why is it necessary to avail gold loan?

KYC, abbreviated as Know Your Customer is a customer background check process carried out by the lender while initiating a gold loan request. The lenders need some mandatory documentation to disburse a gold loan amount for the borrower in case of any fraudulence or arrear in payment. Most of the lenders for quite a while were accepting driving license, voters ID, pan card as KYC documents. But due to stricter RBI regulations after reports of people faking these documents, most lenders now require Aadhar card of the customers to avail a gold loan as it has a retina scan, fingerprint and are essentially foolproof.
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