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Gold Loan in pahariya mandi

Pahariya mandi is a famous locality in uttar pradesh's holy city of varanasi. This town is renowned for having the city's main farmers market. Every morning small shops are set up by farmers on the roadside, and fress harvests are sold to varanasi residents. Farmers arriving here rely on their revenues to cover their daily expenses. This makes the financial schemes in pahariya mandi such as gold loan very common among the farmers. People from nearby and far distant localities visit this area early in the morning to get the cheapest prices of fresh vegetables and fruits.

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!

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.

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Frequently asked questions

How does gold loan work?

Gold loans are those loans that require you to secure your credit amount with collateral, collateral in this case being gold. Lenders usually only accept gold in the form of jewelry or ornaments as opposed to gold coins or bars. It is noteworthy that the gold valuation is almost always different from the market value. This is because the lender arrives at the gold gram rate based on the average rate from the past 30 days. The loan amount that you are eligible to receive depends on the valuation of your gold. This amount is then transferred to you within 10 minutes. 

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.
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