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

Gold Loan in mulki

Situated on the banks of the shambhavi river, mulki is a small panchayat town in karnataka's dakshina kannada district. It stands about 24 km from the city of mangalore. The area, once known as moolikapur, has several small-scale cottage industries produced by skilled workers. In mulki, the simple availability of gold loans serves as a major aid in setting up and developing such entrepreneurial projects. The other two major sources of income for this town are fisheries and agriculture. Mulki remains very well linked by road and rail. The city has its own beach, named mulki railway station.
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We offer the highest per gram rate on our gold loans.

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Today’s max loan value/gm ()
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Gold Loans at the privacy of your home

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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.

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.

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Frequently asked questions

Does gold loan affect CIBIL?

Yes, availing a gold loan in <cityname> will reflect on your CIBIL credit score depending on how you finish repaying your loan amount at the end of your loan tenure. This score directly reflects on how well you manage your monthly loan repayments. Availing a gold loan is bound to reflect positively on your CIBIL score provided you are prompt with your payment. The lender considers your loan as 'closed' in your credit report only when you have repaid the entire amount along with the interest component. However, if you were irregular in your interest payments or failed to repay the entire loan amount the lender will mark it as 'settled' or 'written off' in the credit report which makes you a defaulter and reduces the chances of availing any loan further.

What do I do if I have found a discrepancy in the returned gold?

At Rupeek, we are very keen on customer satisfaction. In the unlikely event that you find any qualms with our usually stellar customer service, you can always reach out to us for instant redressal. If at all you find that the gold jewelry or ornaments that you pledged as collateral is damaged or tarnished in any way upon return after loan repayment, you can raise a complaint on the Rupeek app from your profile. Alternately you can get in touch with a Rupeek executive on the Customer care number. A Rupeek loan manager will be assigned to tend to you and will go through your loan history and sort this out for you.
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