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

Gold Loan in kondalampatti

Kondalampatti is salem zonal area, a city in tamil nadu, south Indian state. Kondalampatti is made up of 15 wards, and m. And thiru and paramasivam. The new councillors from kondalampatti are n. meeanchi sundaram. According to India's 2011 census, this area had a population of about 20,000, where males and females lived in an even ratio of 50:50. The average literacy rate of kondalampatti at 52% is lower than the 59.5% average for national literacy. Yarn trade and silk sarees manufacturing and trading are the most common and coming modes of revenue generation in this area. Sri mariamman temple and kaliamman temple are some of the most famous temples in here. There is also a college named salem sowdeswari college in this area. gold loan is readily accessible to its residents at kondalampatti.

Gold Loans at the privacy of your home

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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.

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

What do I do if I have found a discrepancy in the returned gold?

If the returned collateral gold seems to be tarnished or damaged you can immediately raise a complaint with the lender, connect with your loan manager, and get it sorted. If you take a gold loan in Salem with Rupeek, you don’t have to worry about the safety of your gold ornaments. Rupeek provides the maximum protection to your collateral asset from step one. When the gold appraiser evaluates the gold, it is made sure that it takes place before you. The gold collateral is 100% insured from the moment it gets handed over to Rupeek. The collateral is heavily protected during transportation. Your collateral asset is also given the maximum safety and security at the partner bank.

Can I get immediate cash with gold loan?

Yes, you can get immediate cash with a gold loan in Salem with the help of Rupeek. One of the most attractive features of all online gold loans in Salem, 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 Salem 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 Salem, from the loan application to the disbursal of the amount, does not take more than an hour. 
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