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Sangli
kavathe mahankal
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in kavathe mahankal

Kavathe-mahankal is very popular for its tourist attractions in the sangli district of Maharashtra. This place is home to the famed temple of mahankali devi, temple of mallikarjun and sugar factory of goddess mahankali. Kavathe-mahankali has much to discover like the sangli fort, sagareshwar wildlife sanctuary, chadoli dam and many more. It is a peaceful town and with a five-day fair and celebration, its people usher in big festivals including shivratri, diwali, and ganesh. Students take up an gold loan in kavathe-mahankal because of the variety of educational institutions here, from pharmacy colleges to nursing school, to trade and technology. This place's literacy rate is the highest in Maharashtra, and the best in heritage terms.
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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.

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:

  1. Low rate of interest
  2. Minimal documentation
  3. High loan amount
  4. Flexibility in repayment options
  5. Instant loan approval, etc.

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:

  1. The borrower shouldn’t be a minor
  2. The mortgage loan should be of 18 karat or above
  3. 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.

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Frequently asked questions

Is there a possibility of damage to the ornaments at the time of appraising?

In a country like India, people tend to have a sentimental attachment to their gold. This is because gold gets handed down from generation to generation in the form of ancestral property. For this reason, it is hard to let go of a piece of jewelry, fearing some damage. The borrower might be worried that their property might be stolen/ misplaced or mishandled. At Rupeek, we fully understand how valuable your gold ornaments can be to you. We make sure that your ornaments are dealt with caution and care. The evaluation of your gold will happen right before your eyes, bearing you as a witness to the treatment that the ornaments get. From the moment that your gold gets transferred into the hands of Rupeek, they are 100% insured. 

Is a CIBIL score required for a gold loan?

A CIBIL score is not required for a gold loan. The CIBIL score is a document similar to a credit score. It is used to determine the financial health of the lender. A high CIBIL or credit score is preferred by the lenders. The borrowers need to have a minimum credit score of at least 700 to be eligible for a gold loan. But in the case of a secured loan, the borrowers are not required to present their credit score. A secured loan only requires minimal paperwork. The only documents that the borrower is expected to present before their loans can be sanctioned are the identity proof and the address proof. Sometimes, it is even possible to get a gold loan against just their Aadhaar card.

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