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

Gold Loan in Nanganallur

Nanganallur is a famous residential area around Kanchipuram in Southwest Chennai. People residing here enjoy closeness to the Chennai International Airport. It is also a hub of historically significant temples. The closest railway stations are Palavanthangal and the neaest metro station is Meenambakkam. There also a few state-of-the-art schools around this area which is why people like to settle here. Gold loans in Nanganallur is often prefered for its promppt processing and sanctioned schemes.
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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 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!

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

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Frequently asked questions

Is my gold safe with Rupeek?

Our processes are ISO 9011:2015 certified and we have completed 25,000+ loans with utmost care and safety. To ensure the safety of your gold ornaments, we have partnered with reputed banks that are trusted across India - Karur Vysya Bank, Federal Bank, and ICICI Bank. a network of bank branches and regional offices. Your ornaments are sealed in a GPS secured bag while being transported by our security partner Brinks, an internationally trusted security service, from your home to the bank branches, where upon arrival, is stored in secure bank lockers under bank-grade security and surveillance to ensure utmost safety. Your gold is also fully insured with trusted New India Assurance against any theft or accident during transit from and to your doorstep.

What is gold loan renewal and how is it done?

Gold loan renewal is the process by which a borrower can renew the gold loan in cityname that they have obtained from a lender. Gold loans in cityname are usually for short durations - the loan terms extending over periods as short as 3 months and not more than 12 months. If the borrower is in a continued requirement of funds even after their loan term has come to an end, a fresh loan can be acquired from the same lender by repledging the same gold ornaments. It has to be noted that some lender levy a charge for the renewal of the gold loan in cityname.
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