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

Gold Loan in muttom

The best way to view the town of muttom located in kanyakumari, Tamil Nadu is through a scenic beach, rustic cliffs, caves and sunset spot. The town has a british empire-built lighthouse which receives about four to five thousand visitors each year. The village is proud of its clean beach and as it isn't overly packed, it gives visitors an outstanding destination. People here are mostly engaged in fishing which is why it is one of the area's most popular fishing villages. Although the population is mainly catholic, it has a jain temple named thirunanthikarai cave temple dating back to 1003 ad. As this is a popular tourism destination, people in muttom are taking gold loans to start new businesses apart from fishing.
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Gold Loans at the privacy of your home

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Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

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Frequently asked questions

What do I do if the displayed information regarding my gold loan interest is incorrect?

If the information regarding your personal detail or your financial data is displayed incorrectly regarding your gold loan in cityname, you have to take care to take steps to fix the errors promptly. To do this, the borrower should get in touch with the lender immediately and ask for the errors to be rectified immediately. The borrower should be able to produce proofs to back their claim – whether it is regarding your personal details or your financial data. Your KYC documents can act as proof of your personal details and to prove your financial data, you can use the data on the portal. You can see your base scheme interest and post rebate interest amount under the Repay your Loan page, in the case of rebate schemes. The interest calculation for your gold loan in cityname is done automatically, considering your rebate schedule and your repayment history. 

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 cityname 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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