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Gold Loan in kovur

Kovur town is an integral member of nellore urban development authority, a progressive gram panchayat with self-government system. The birthplace of the famous poet thikkanna somayaji is familiar to the locals. It is known to the nearby villages as a booming town in recent years with new schools coming up. Covur townscape is surrounded by paddy and sugarcane fields. In the other hand, the town takes over from shrimp farms. For their survival the local population relies on both agriculture and aquaculture. In case of a sudden financial need their profession calls for immediate loan in kovur.

Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

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

Can I partially repay the gold loan amount?

Yes! Since Rupeek strives to provide affordable solutions for everyone, we provide the flexibility to repay your loan amount as per your convenience. If the borrower wishes, he/she can choose to repay their gold loan in part. This partial repayment option is also known as part release of a gold loan. The partial repayment amount can vary between monthly interest and full-closure amount. However, the gold jewelry or ornaments pledged will be returned only after the entire loan amount is repaid.

How to repledge my existing loan?

Most lenders adhere to different terms and conditions as per their discretion. Hence, the flexibility to repledge an existing gold loan may or may not be available with all lenders. Rupeek however strives to offers unparalleled features via peerless customer service. Hence, at Rupeek, if you want to continue an existing gold loan in Nellore and repledge your jewels, you can always contact our customer support team through your profile from the app. Alternately you can also place your request via the customer care number. A loan manager will be assigned to tend to you who will then guide you through the process.
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