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Gold Loan in Kolkata

One will be surprised to know that Kolkata, priorly named as ‘Calcutta’, was the functioning capital of India till 1911. The city was a conglomerate of three villages namely Sutanati, Kalikata and Gobindapur. The city has been a centre for the Indian Independence struggle from where various movements and freedom fighters originated. The place is named as the ‘cultural capital of India’ in view of its cultural, literary and architectural importance. One of the vastly celebrated festivals is the Durga Pooja, covering a span of 10 days where people pray to Lord Durga. The people of Kolkata are renowned for their ‘closely-knit’ neighborhoods and casual conversations, which is a chief part of their community’s essence. The place is known for being ahead of its time, it is where the first stock exchange was set up, metro line was constructed and an operational airport was built. The major tourist sites of Kolkata are the Indian Museum, Dakshineswar Temple, Eden Gardens, Victoria Memorial, Alipore Zoo, Birla Mandir, St. Paul’s Cathedral and National Library. The people mostly rely on gold loans in Kolkata for personal requirements.

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.

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

How is KYC done at home for online gold loan?

KYC documents are documents that prove the borrower’s identity and address. It can be the borrower’s Aadhaar card, PAN card, voter ID, driving license, or passport. These are the only two documents that a secured loan demands from its borrowers. When the representative from the company arrives at your doorstep to verify your documents and your gold, your documents will have to be uploaded to check its validity. The official will take pictures of the documents and upload them to the company’s system. Within minutes, the documents will be verified and the process will be completed.

Can I get immediate cash with gold loan?

Yes, you can get immediate cash with a gold loan in Kolkata with the help of Rupeek. One of the most attractive features of all online gold loans in Kolkata, including Rupeek is that the gold loans can be obtained instantly. Within minutes from the approval of your loan, the loan amount will get disbursed into your account. If you are looking for immediate funds or emergency loans, then applying for a gold loan in Kolkata is your best bet. The security associated with a collateral-based loan such as a gold loan allows the lender to provide the borrowers with many benefits. The whole process when acquiring an online gold loan in Kolkata, from the loan application to the disbursal of the amount, does not take more than an hour. 
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