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Gold Loan in narendra nagar

Narendra nagar is a town in the indian state of Maharashtra in nagpur. Marathi is the official language of this locality. This region is also home to the prasana prayas research center. In this area are located some of the famous temples common among worshippers, such as hanuman mandir, siddhivinayak ganesh mandir, ayyappa devasthan, and tatsam (madrasi mandir). The area has its own municipality, too. Any of this area's well-known colleges are the central business management school, and jyotiba fule college. Students are admitted to these colleges in this locality by applying for an gold loan in narendra nagar. The gold loans serve as a salvation and help students pursue their profession as they wish. Kherde maternity and nursing home and roy nursing home are some of the well-known hospitals surrounding this locality.

Documents required for an online gold loan

A gold loan is the perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:

  1. Identity proof – any document such as voter ID, PAN Card, Aadhaar Card, Passport, or driving license can act as the identity proof of the borrower.
  2. Address proof – the same documents as mentioned above, except for voter ID and PAN card can act as the address proof of the borrower.

Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.

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

How to apply for a gold loan with Rupeek?

Applying for a gold loan using Rupeek is a very smooth and hassle-free process. The online gold loan owes its popularity to the simplicity associated with acquiring them. The gold loans can be acquired in a few easy steps. With Rupeek, you can place an application for the loan both online as well as offline. The steps are as follows:

  1. Place the loan request – you can visit the lender’s web portal, download their app as well as call up at their customer service to place a loan request.
  2. Schedule of appointment – as soon as the loan request has been placed, an official from the company will get in touch with you. An appointment will be fixed.
  3. Evaluation of the gold and verification of the documents – the authenticity of the gold has to be established and the documents have to be verified.
  4. Loan approval – when the borrower’s document s and the assets have been successfully verified, it will be immediately approved.
  5. Disbursement of the funds – as soon as the loan has been approved, the funds will get immediately transferred into the borrower’s account.

The whole process – from the loan application to the disbursement of funds takes place within an hour. 

Can I close the gold loan earlier than intended?

Yes, you can choose to close the gold loan earlier than originally planned if you prefer. Whether or not you have to pay additional charges due to this depends on your lender. Rupeek for instance doesn't levy any lock-in period or prepayment penalties in case of early repayment. Whereas some other lenders might have small penalties ranging up to 200 rupees if you wish to foreclose your loan account before 3 months or 1 month, the lock-in period set upon the respective lender's discretion. The penalty also depends on the loan amount availed.
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