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East Godavari
mori
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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

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

Gold Loan in mori

At first glimpse mori seems to be like every other village dotting Andhra Pradesh's east godavari district. But there's a lot which makes this hamlet stand out from the other district villages. For instance, mori boasts of becoming Andhra Pradesh's first super-smart town. This village has gone all digital, in other words, and villagers are well versed in the ways of making cashless purchases for anything from paying electricity bills to water taxes. This sleepy village is also a major exporter of cashew nuts taking in much of its profits. In mori, villagers also use gold loans to fulfill their cash requirements for the cashew exporting sector.
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We offer the highest per gram rate on our gold loans.

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Gold Loans at the privacy of your home

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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.

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.

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Frequently asked questions

Is there any age limit to avail a gold loan?

Each lender follows a different age limit criteria for people that are applying for a gold loan in <cityname>. Some lenders require the borrower to be a minimum of 18 years while some others require the borrower to be 21 years of age. Some have a limit of 65 years while others have 75 years as the age limit. However, largely, if you are an Indian citizen, above the age of 18 and possess the required KYC documents and gold amount, you can avail a gold loan. The eligibility criteria for a gold loan is less compared to other sources of funds. As long as you are above 18 years of age, and the gold that you are providing as collateral is above 18 karat gold, you are eligible to get a gold loan. The gold that you pledge as collateral can only be in the form of ornaments or jewelry. 

Can I pledge anything other than gold?

No. Most lenders do not accept anything other than a gold pledge as their lending partners accept only gold jewelry. The kind of collateral and the type of it that an online lender accepts also depends on the conditions of its partner banks. Rupeek only deals in gold ornaments and not in the other forms of gold – such as coins or bars because its partner banks only accept ornament. Further, lenders like to specialize in the kind of loan that they offer so that they can provide their customers with the maximum benefits and the best services. 

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