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Gold Loan in khuldabad

In the district of Aurangabad, Maharashtra , India, Khuladabad is a taluka. The city was popularly referred to as 'Rauza' during ancient times; the garden of paradise. The name of the 'Valley of Saints' is also well known. People love to fly to Khuldabad on foot to give their prayers on the occasion of Hanuman Jayanti at the Bhadra Maruti Temple.The city's other major attractions are the Tomb of Aurangzeb, the Tomb of Azam Shah and his wife, Zainuddin Shirazi Dargah, and the Makbara of Bani Begum.Industrialists are seeking gold loans in Khuldabad to set up travel agencies and hotels. The town thrives on the tourism revenue generated. You can fly to Khuldabad by taking a bus from Aurangabad Railway Station to the Khuldabad Bus Stand. You can contact Khuldabad Police Station and the hospital in the event of an emergencies.

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

Documents required for an online gold loan

A gold loan is the perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:

  1. Identity proof – any document such as voter ID, PAN Card, Aadhaar Card, Passport, or driving license can act as the identity proof of the borrower.
  2. Address proof – the same documents as mentioned above, except for voter ID and PAN card can act as the address proof of the borrower.

Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.

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Frequently asked questions

Do I need to update the bank in the event of a change in address due to relocation or any other reason?

As a borrower, you are required to submit address and identity proof before being eligible to avail the loan. This is primarily to ascertain your nationality, as well as to keep track of your whereabouts in case necessary. Hence, if you happen to shift your place of residence during the tenure of your loan, you are required to promptly inform your Rupeek executive in-charge. If necessary, your loan manager will schedule a visit and visit you at your new address. If not, your new address will simply be updated in our records provide you submit a proof of address online. 

What is an LTV?

LTV stands for Loan to Value ratio. In a gold loan in Aurangabad, when a borrower pledges the gold ornaments with the lender to receive funds in exchange for it, the lender has to calculate the amount of the loan that can be disbursed for the given value of gold. The amount that can be disbursed with respect to the value of the gold is known as the Loan to Value ratio. In the case of a gold loan in Aurangabad, the LTV is high where the borrower can get up to 75% of the market value of the pledged gold. How much loan amount can be obtained by submitting the borrower’s collateral gold can be calculated online. Several lenders, including Rupeek provide this facility online.
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