city
Mumbai

Low Interest Gold Loans in India

Get a New Gold Loan
flashInstant 30 minuntes
Shift your Existing Gold Loan
saveSave ₹37,131*

Low Interest Loans

Get a New Gold Loan
flash Instant 30 minuntes
Shift your Existing Gold Loan
save Save ₹37,131*

Gold secured by
Trusted Bank Partners

lender banks
max LTV

We offer the highest per gram rate on our gold loans.

We offer the highest per gram rate on our gold loans.

Today’s max loan value/gm (): *

Today’s max loan value/gm: ()
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Gold secured by
Trusted Bank Partners

lender banks

Gold Loan in Mumbai

Mumbai, the most populous city in the country, was under the control of indigenious empires before being conceded to the Portuguese and then to the British. The city’s proximity to the sea increased its worth in terms of trade and services for the British East India Company. Currently, the city holds a great deal of significance as it is the commercial capital of India. The Bombay Stock Exchange was found here and it precedes the National Stock Exchange. Mumbai has the highest number of billionaires with respect to the other cities of the country. The city is home to numerous Bollywood icons and it is also well recognised for domains like telecommunications, tourism, sports, media and entertainment.The city’s various opportunities attracts people from all over India and this diversity becomes a huge part of the city’s essence. The locals and business groups highly depend on gold loans in Mumbai so that they can handle their financial needs. The places of tourist interest in the city includes Elephanta Caves, MCG Stadium, the Gateway of India, Chatrapati Shivaji Maharaj Vastu Sangrahalaya and Marine Drive.
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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.

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!

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Frequently Asked Questions

Can I increase my loan amount after taking the loan?

Yes, Rupeek can increase your loan amount after you have taken out a loan on gold. Based on the present gold rate, Rupeek will pay you the additional loan amount for your gold. Rupeek is one of the best online providers of gold loan in cityname. It makes sure that its customers are satisifed with the gold loan service that it provides. All kinds of services that its borrowers request, it tries its best to accommodate. Contact us to learn more. 

Is a gold loan taxable?

Though gold loans can be spent as per the discretion of the borrower, whether or not your gold loan is taxable primarily depends on the purpose for which it is being availed. For instance, gold loans that are availed for business purposes are taxable. Additionally, a tax rebate can be claimed on the interest component as well. However, this is not the case if the gold loan is being availed for personal use. That is if the loan is being availed to be spent on educational purposes, a wedding, medical emergencies, purchase a vehicle, or remodel your house, then the borrower cannot claim a deduction.

Are banks or NBFCs better for availing gold loan

If you are looking for a gold loan in cityname but find yourself confused about the source from where to procure the funds, it is important to understand the pros and cons of each source. Since there are many lending institutions today that supply funds both offline and online, they all have their specific list of advantages and disadvantages. While banks and NBFCs look like the obvious choices, the borrower has to evaluate both of the sources with respect to their financial status. Banks usually take a longer time to process the loan, to verify the CIBIL score and they also offer lower LTV and have a strict EMI model. On the other hand, although NBFCs offer higher Loan to Value ratio, they charge higher interest rates. 

My payment has failed, what do I do?

If you have applied for an online gold loan, in <cityname>, the lender will put out reminders before the payment is finally due. In case of an auto-debit setup, if an incorrect amount gets debited it will get reverted to your back within 72 hours or according to your bank guidelines. If the payment mode is NEFT, it may take longer to process the refund. For further assistance, the lender's support team is always at reach. We at Rupeek are only a call away and are always happy to help!

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