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

Gold Loan in manjusar

Majusar is a bustling neighborhood in Vadodara, Gujarat. The name of this locality is derived from the ample amount of Banyan (Vad) trees found here. The area is often known as Sanskari Nagari and Kala Nagari (the city of art) of India. Manjusar is popular for its Bhimnath Mahadev temple and the Manjusar GIDC. The neighborhood has developed quite quickly as a result several financial service providers offer gold loans in Manjusar. The Bhimnat Mahadev temple is a major tourist attraction here. It is a historic temple, believed to be built in the Mahabharat era by the Pandavas who would then give their offerings to the Hindu deity Shiva here.a

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What is an online gold loan?

Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.

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.

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Frequently asked questions

Can I get immediate cash with gold loan?

Yes, you can get immediate cash with a gold loan in Vadodara with the help of Rupeek. One of the most attractive features of all online gold loans in Vadodara, including Rupeek is that the gold loans can be obtained instantly. Within minutes from the approval of your loan, the loan amount will get disbursed into your account. If you are looking for immediate funds or emergency loans, then applying for a gold loan in Vadodara is your best bet. The security associated with a collateral-based loan such as a gold loan allows the lender to provide the borrowers with many benefits. The whole process when acquiring an online gold loan in Vadodara, from the loan application to the disbursal of the amount, does not take more than an hour. 

What happens if the loan amount is not repaid on the due date?

One of the main occurrences that the lender, as well as the borrower, try to avert before sanctioning a gold loan in Vadodara is a failure of repayment in the future. The borrower is provided with an array of repayment options from which the best suited and the most convenient one can be picked, keeping in mind the financial status as well as the personal expenses of the borrower. But even with these precautionary measures, it is still probable for the borrower to meet with an unprecedented financial emergency in the future. If the borrower fails to make the EMI payment on time, a penalty charge will be added to the next EMI. If the problem persists and the borrower defaults his repayment again, the loan will be auctioned off. The credit score of the borrower will also be adversely affected. It is advised that as soon as the borrower meets with a financial emergency, the lender has to be immediately contacted. 

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