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

Gold Loan in Periyar Nagar

Periyar Nagar is a Chennai neighborhood that has been created. It is situated in the northern part of Chennai, approximately 8 km from the center of the district. The region derives its name from that of Periyar E. V. Ramasamy, the Tamil leader and social activist, considered the founder of the Dravidian revolution. Periyar Nagar is near some of Chennai's other famous neighborhoods, including Perambur, Kollathur, and Villivakkam. You can easily enter the neighborhood through road and rail networks. Just 3 km from Periyar Nagar, Perambur Railway Station is situated. Neighborhood residents often rely on gold loans in Periyar Nagar to meet their immediate financial needs.
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Gold Loans at the privacy of your home

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Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

Eligibility criteria for an online gold loan

As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-

1) Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.

2) You must be an independent major, that is of the age 18 or above

3) Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.

4) The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)

It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days. 

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Frequently asked questions

Can I take a gold loan for my education?

Yes, you can take a gold loan in cityname for your educational purpose. In fact, one of the main reasons why gold loans in ciytname are taken is for educational purposes. A secured loan is one of the easiest and most flexible loans to take. The low-interest rates, the high loan to value ratio, and the flexible repayment schemes available with an online gold loan in cityname makes it one of the best sources of funds. The loan term for a gold loan in cityname can range from 6 months to 12 months. For these reasons, if you are pursuing higher education in India or abroad, a gold loan is one of the best options before you.

Can I avail EMI facility on gold loan?

Yes, you can avail EMI facility on gold loan in cityname. Equated Monthly Installment is the amount that you pay every month to your lender for the loan you have received against your gold. EMI includes both the principal amount and the compound interest. Most of the time while applying for a gold loan online you can use the online gold loan calculator and check the EMI applicable for your loan amount. EMIs are one of the best methods of repayment of the loan. The consistency, as well as the fixed amount in an EMI, makes sure that the borrower doesn’t have to dip into their savings during the course of their gold loan in cityname.
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