close btn

Service Update- (Covid-19)

In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

Gold Loan in mominpura

Mominpura is a town in the city of nagpur located in Maharashtra, indian state. This place is home to mustafa baba, who was a spiritual-powered sufi saint, and he has many worshippers in nagpur city. Some well-known hospitals such as central hospital, national medical hospital, and mayo hospital are situated at the locality. People here don't face any health challenges. People are also spared from the risk of spending a great deal of money in health problems due to the availability of gold loans in mominpura, which they can repay in small installments. This locality is also home to the renowned indira gandhi government medical college. There are temples and masjids in this locality that serve as attractions for worshippers. The locality also boasts several decent indian cuisine restaurants.

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.

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!

Rupeek ad

Gold Loan Calculator

Frequently asked questions

What is KYC? Why is it necessary to avail gold loan?

KYC in the KYC documents stands for Know Your Customer. This is a customer identification process where the lender obtains a couple of documents from the borrower to get some personal details about them. These document, which can consist of their PAN card, Aadhaar card, driving license, voter id and passport act as the identity proof and the address of the borrower. The lender has to have a copy of these documents for securlty reasons and to prevent unscrupulous behaviour by the borrower. Although the above listed documents were sufficient before, now it is mandatory for the borrower to present their Aadhaar card since it consists of all of their details, including their finger print and retina scan. These cannot be fabricated and it is also possible to get a gold loan against just your Aadhaar card today.

How is the market value of gold determined?

Gold is a key player when it comes to international trade. While money value keeps fluctuating, the value of gold has never dipped below zero in its 3000-year history. Many factors determine loan interest rates. A few of them are listed below:

1) Local production and demand for gold

2) Inflationary rates

3) Government's gold reserve

4) Import and interest rates

5) Taxes 

6) Levies

7) Global demand for gold

Gold value is so volatile because of these several factors that affect it. To know the current gold loan rate, you can check out our gold loan calculator.

Rupeek ad
gold img
Apply for Gold Loan 30 Minutes Doorstep Service
close
+91
Please enter valid Mobile Number
close
success img

Loan Request Successful

Your request has been received, our customer relationship manager has been notified and will call you shortly