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Vijayawada
patamata
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in patamata

Patamata is a residential and commercial community in the Krishna district of Andhra Pradesh. It belongs to the jurisdiction of the 12th ward of Vijayawada Municipal Corporation. It is very close to Auto Nagar or Jawahar Auto Nagar which proves to be advantageous. Many IT and government companies operate in Auto Nagar which Patamata the preferred location of residence for working professionals and their families. Lifestyle and business operations require both individuals and businesses to opt for gold loans in Patamata. Sentini, Ramesh, ESI and Ayush hospitals can be easily reached by road. Many educational institutions-schools and colleges span adjacent areas.
Today's maximum loan value/gm **
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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

How do I know if the executive is authentic while applying for an online gold loan?

Once your loan request has been placed for an online gold loan, a Rupeek executive will arrive at your doorstep to value your gold. It is very important to be vigilant about the identity of a person before you trust them and let them into your house. Which is why Rupeek has an executive verification process in place- The in-app verification. Once the executive has reached your location an OTP will be sent to your number which the executive will then have to enter on his app to verify the match. Additionally, you can also ask to see the executive's ID card, issued to him/her by Rupeek. The executive will also display a government ID proof if asked.

How is the market value of gold determined?

Gold is a key player when it comes to international trade. While money value keeps fluctuating, the value of gold has never dipped below zero in its 3000-year history. Many factors determine loan interest rates. A few of them are listed below:

1) Local production and demand for gold

2) Inflationary rates

3) Government's gold reserve

4) Import and interest rates

5) Taxes 

6) Levies

7) Global demand for gold

Gold value is so volatile because of these several factors that affect it. To know the current gold loan rate, you can check out our gold loan calculator.

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