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

Gold Loan in lakkireddy palli

Lakkireddy palli is situated within Andhra Pradesh's kadapa district. The village falls under the rajampet revenue division lakkireddipalle mandal. Lakkireddy palli has all important civic facilities traditionally found in this district's villages. There are many government institutions and offices in the village including a police station and circle building, court complex, government hospital, mandal revenue office (mro), meo office, vro office, and office of the rwss subdivision. Other services in the village include a bus station, high school, bank, worship spots, fair shops, and general stores. Although some of this village's residents make their living by farming, many people have set up their own businesses. The availability of gold loan in lakkireddy palli allows these people with the least paperwork to obtain funds.

Gold Loans at the privacy of your home

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Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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.

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Frequently asked questions

What are the documents that I need to submit while applying for a gold loan?

One of the main benefits of a gold loan is the minimum paperwork associated with it. The only documents that the borrower has to submit before the lender to sanction their loan are their identity proof and their address proof. Any of the documents in the long list of PAN Card, Aadhaar card, voter ID, passport, driving license, etc can function as their identity proof. Except for the PAN card and the voter ID, any of the mentioned documents can also be used as their address proof. It is also possible to get a gold loan with just an Aadhaar card. On the other hand, when getting an unsecured loan, the required documents are numerous.

What are the different gold schemes available at Rupeek?

Rupeek is one of the best online gold loan platforms that makes sure that it provides its borrowers with flexible repayment options so that they do not have to land themselves in trouble over repayment of the loan. Rupeek offers its borrowers with a range of schemes from which the borrower is free to pick that is best suited for them. Rupeek takes into consideration the convenience of the borrower to evade any problems in the future. Three different schemes under each amount are available when opting for a gold loan under Rupeek. It is listed in the table below.

Amount

Interest rate

Less than 2 lakh

The interest rate is at 1.29% at the lowest and 1.69% at the highest.

Between 2 lakh and 5 lakh

The interest rate can range between 0.99% and 1.59%

Between 5 lakh and 20 lakh

The interest rate can be as low as 0.89% and as high as 1.39%

Above 20 lakh

The interest rate falls between 0.89% and 1.39%.

Under each loan amount, Rupeek offers you a range of choices to pick from. They are classified into three:

  1. High-value loan (which has the lowest interest rate)
  2. Max value loan
  3. No tension max value loan (which has the highest interest rate)

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