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

Gold Loan in pendurthy

Pendurthi is considered to be the major residential and commercial area in Vishakhapatnam, India. It is located within the jurisdiction of the Greater Vishakhapatnam Municipal Corporation, which is responsible for the civic amenities in the vicinity. It is located on the western fringe of Visakhapatnam city. Banks and ATMs and gold loans in Pendurthi are also easily accessible. The locality enjoys good connectivity with other regions via road and railways. Pendurthi Railway Station is located on the Howrah-Chennai mainline. Some passenger trains stop at this station. It also has a Bus Rapid Transport System (BRTC) corridor connecting it from Vizag city.

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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.

Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

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Frequently asked questions

Is there a possibility of damage to the ornaments at the time of appraising?

Thanks to the affinity we feel towards ancestral jewelry we tend to tag a lot of sentimental value to our gold. This trend is pervasive especially in a country like India where gold is passed on from one generation to another. At Rupeek, we full well understand that your gold ornaments are of utmost value to you. We assure you that at Rupeek we maintain at high standard of safety and that our representatives will take all the necessary care and caution while handling your ornaments. The entire gold appraisal process will happen right in front of your eyes, during which you can witness our safekeeping in real-time!

Are banks or NBFCs better for availing gold loan

If you are looking for a gold loan in Visakhapatnam but find yourself confused about the source from where to procure the funds, it is important to understand the pros and cons of each source. Since there are many lending institutions today that supply funds both offline and online, they all have their specific list of advantages and disadvantages. While banks and NBFCs look like the obvious choices, the borrower has to evaluate both of the sources with respect to their financial status. Banks usually take a longer time to process the loan, to verify the CIBIL score and they also offer lower LTV and have a strict EMI model. On the other hand, although NBFCs offer higher Loan to Value ratio, they charge higher interest rates. 
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