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

Gold Loan in madukkarai

Madukkarai is a suburb in Coimbatore, situated around 12 km from the fringe of Kerala. It is viewed as the entryway to Coimbatore city from Kerala. Madukkarai is the regulatory center of the taluk of Madukkarai. The Coimbatore International Airport remains about 27km from this area. Madukkarai lies on the primary road that associates Coimbatore to the National Highway 47. Madukkarai has its own station, called the Madukkarai Railway Station, thanks to which passengers journey to and from the Palghat stop. It is also home to one of the oldest concrete plants in the nation, belonging to the ACC of the Holcim Group. This plant has been operating since the British invasion. The area doesn't offer have an active economic cycle owing to which locals frequently end up depending on gold loans in Madukkarai to meet their budgetary needs.
Today's maximum loan value/gm **
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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.

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

Does gold loan affect CIBIL?

All gold loan lenders do not consider the credit score before sanctioning a loan. Some lenders take into consideration the CIBIL score. Rupeek does not require the CIBIL score of the borrower before giving the loan approval. In that case, your CIBIL score is of no concern when you obtain a loan from Rupeek. But on the other hand, what can affect your CIBIL score is your repayment of the loan. If you have made all the repayment of the gold loan in cityname on time, your CIBIL score will take a boost. On the other hand, if your repayment has been poor, your CIBIL score will be adversely affected. This will, in turn, affect your eligibility of loans in the future.

What about the tenure of the loan, lock-in period, and prepayment penalties?

The components of a loan always vary from one lender to another. There is no standard method in which your gold is valued, the loan amount you are eligible to receive, the gold gram rate, and loan interest. As a rational borrower, you are required to conduct due research before availing an online gold loan as there are a lot of red flags you might overlook. Even minute factors like overhead charges can increase the cost of your loans. The processing fees for your gold loans can vary from one lender to another and range between 0.20% and 2% of the loan amount. The processing fee at Rupeek is at the lower end of the spectrum and is in fact, one of the lowest in the market.
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