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Kanpur
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in Kanpur

Did you Know that the origin of Kanpur can be traced back to as early as 1207 when Raja Kanh Deo of the Kanhpuria tribe established reign of power over the region and called the settlement Kanhpur. Kanpur, which was once a garrison town under the command of the British, is now flourishing as a growing industrial hub. From breathtaking spiritual monuments to fun recreational hubs, from divine temples to sophisticated theatres and malls, the city has it all. Kanpur, the second largest city in Uttar Pradesh is also appreciated for its expertise in leather and textile production. People of Kanpur have also ventured into the gold market. They avail gold loans often and mostly use it either to buy jewellery for weddings or for investment purposes. The city is accessible to other parts of the country via air, road and rail networks.
Today's maximum loan value/gm **
max LTV

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Gold Loans at the privacy of your home

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Benefits of an online gold loan

The benefits a borrower can reap from an online gold loan are boundless! All you need to do to avail an online gold loan is download the lender's app and place a loan request. One of the best features of a gold loan is that this process can be done online entirely without manual intervention provided that is what the borrower prefers. The borrower also has the flexibility to place a call on the lender's customer care number to avail the same if he/she were to feel like they might need assistance with the process. All this happens right from the comforts of your home. Even when it comes to gold valuation, you do not need to venture out with expensive gold in your pocket! The lender assigns a representative that will visit you at a location and time as stipulated by you. While an online gold loan does require a few basic documents, you can also avail a loan with just your Aadhar card! As a borrower, you are eligible to receive up to 75% of the gold you are pledging. If both parties are in agreement with the loan amount, the loan is disbursed to your account within a matter of 10 minutes. What's more, the entire process takes only an hour end-end!

What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

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Frequently asked questions

Can I partially repay the gold loan amount?

Yes, it is possible to make partial prepayment of the loan. This is one mode of repayment of the gold loan in cityname where the borrower pays an amount larger than the fixed EMI and less than the full loan amount. The amount can range anywhere between the EMI and the remaining loan amount with the interest compound. Some borrowers resort to this method to finish off the loan prematurely. However, it has to be noted that the collateral will only be returned by the lender once the whole repayment has been completed. 

What about the tenure of the loan, lock-in period, and prepayment penalties?

The specifics of a loan vary from one lender to another. The loan tenure, prepayment penalties, lock-in period are all subject to change depending on the lender. For instance, at Rupeek the tenure of a loan is on average 12 months. However, the borrower can exercise a great range of flexibility and even choose to repay the loan within a few days as well. Rupeek strives to provide affordable, convenient, and flexible solutions that suit the requirements of every borrower, there is no lock-in period, nor are there any prepayment penalties! 

What is an LTV?

LTV abbreivated as Loan-to-Value Ratio is the financial term used by the lender to asses the risk of lending you a gold loan in <cityname> by determining the relationship between the loan amount and the value of the pledged collateral. Borrowers can ideally avail up to 75% of the value of the pledged gold as the loan amount. The loan amount that will be obtained by submitting the borrower’s collateral gold can be calculated online. Several lenders, including Rupeek provide this facility online.

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

In case 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 gold loan in cityname remains unpaid beyond a stipulated date, the gold will be auctioned off. But it is only in rare circumstances that such problems arise. It is to prevent such incidents in the future that the lender provides the borrower with a list of repayment options. This enables the borrower to pick a scheme that can help them manage their EMIs as well as their other personal expenses promptly. 
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