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Gold Loan in Kokkirakulam

Kokkirakulam is a locality located about 6 km from the city center in tirunelveli. The tamirabharani river borders on one side of the locality. Since the land here is so fertile, lush rice fields are a popular sight in that area. Other localities such as vennarpettai, palayankottai and mgr nagar surround kokkirakulam. It stands at the junction of south bypass road and trivandrum road, two famous highways. Because of this the region enjoys seamless connectivity with thirunelveli and the other surrounding areas. Kokkirakulam is dotted with many businesses, several of which have developed along the south bypass route. Local people in kokkirakulam sometimes opt for gold loans to finance their companies.

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.

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 transfer my loan from my existing lender?

Yes! You can transfer your existing loan from another lender to Rupeek. There are several reasons why a borrower might choose to transfer their loan. It could be because of lower interest rates, higher per gram rates, enhanced gold security, or more flexible repayment options. If you are looking to transfer your existing loan, all you'll have to do is request for the renewal amount and Rupeek will take it from there. If you transfer your loan to Rupeek, rest assured it entails maximum security for your gold and flexible repayment options. Please visit our loan transfer page for more details

What is a gold loan?

A gold loan is a loan in which the borrower offers a certain amount of gold against a loan amount (called loan-to-value or LTV) for a certain period of time. This works like a normal secured loan in which the gold acts as collateral or asset. A secured loan is also known as a collateral-based loan. A secured loan is one of the best sources of funds available in the market, thanks to the flexibilty that it offers. Acquiring a gold loan is a very simple and smooth procedure. Usually, it doesn’t take more than an hour for the funds to get disbursed. Its flexibilty allows the borrower to obtain funds even when they have a poor credit history, if they have an irregular income or even if they are unemployed.
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