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Gold Loan in Malkapuram

Malkapuram is considered to be the major residential area in Vishakhapatnam, Andhra Pradesh. It is situated within the jurisdiction of the Greater Visakhapatnam Municipal Corporation which is responsible for the civic amenities in the locality. The distance of Visakhapatnam Airport from this area is about 12 kilometers and 11km from Visakhapatnam railway station. The economy of the city gets its major boost from the heavy industries established here like Hindustan Petroleum Corporation Limited, Hindustan Shipyard Limited, Naval Dockyard Visakhapatnam and Coromandel International lie in close proximity of Malkapuram. Employees of these industries like to opt for gold loans in Malkapuram to meet their financial needs. It lies to the south fringe of Visakhapatnam City and is loosely bordered by Gajuwaka to the west and Naval Coast Guard to the east.

What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.

Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

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Frequently asked questions

Is there a possibility of damage to the ornaments at the time of appraising?

We are very respectful of your gold and take all the necessary precautions during appraisal of the same. While you might have your fair share of concerns as a borrower, Rupeek adheres to supreme safety standards and will ahndle your gold utmost care. And whats more, you can witness this in person ! Your gold is evaluated right in front of your eyes in your homground. Post evaluation, your gold will have a 100% insurance cover as long as it is in our possession.

How is the interest rate calculated for gold loans?

Narrowing down on the right lender after careful consideration is an integral part of availing a loan. As a rational borrower, you might have noticed that all the elements of a gold loan scheme such as loan term, loan interest rates, loan amount as well as repayment options differ from one lender to another. To ascertain the specifics of your loan, especially the interest rate you will have to directly contact the lender of your choice. Your lender will be able to guide you through all the various features and rates of the gold loans they disburse.
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