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

Gold Loan in LB Nagar

Lal Bahadur Nagar, also known as LB Nagar is situated 19 kms away from Begumpet Airport and it is located 16 kms away from the Secunderabad Railway station. It is a major commercial and residential hub in the city since it is connected to airport and railway station. LB Nagar is often seen as a lucrative centre by real estate dealers. It is surrounded by Saroornagar, Kothapet, Vanasthalipuram, and Nagole. Flagship real estate projects such as TNR, Sulakshna, HSR Amrut Akash, Manjeera Heights 1 and 2 and Alekhya Towers are being undertaken at LB Nagar. Residents of this locality are dependent on gold loans in LB Nagar to later invest in property.

Gold Loans at the privacy of your home

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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.

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

* Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

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Frequently asked questions

What kind of repayments can I do?

Borrowers have the flexibility to choose from different types of gold loan repayment schemes. These include Interest payments, Closure payments, and Part payments.

1) Interest payment: Interest payment is the method of repayment in which the interest you need to pay on your principal is paid on a monthly basis.

2) Closure payment: Closure payments is the method of repayment in which the jewelry you have pledged is returned once the closure payment is made.

3) Part-payment: Part payment is the method of repayment in which you can make at any point in time which is more than the interest payable for that month 

What is an LTV?

LTV stands for Loan to Value ratio. In a gold loan in Hyderabad, when a borrower pledges the gold ornaments with the lender to receive funds in exchange for it, the lender has to calculate the amount of the loan that can be disbursed for the given value of gold. The amount that can be disbursed with respect to the value of the gold is known as the Loan to Value ratio. In the case of a gold loan in Hyderabad, the LTV is high where the borrower can get up to 75% of the market value of the pledged gold. How much loan amount can be obtained by submitting the borrower’s collateral gold can be calculated online. Several lenders, including Rupeek provide this facility online.
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