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

Gold Loan in Perungudi

A major residential area in South Chennai, Perungudi is bordered by Velachery, Madipakkam, Guindy, Nanganallur, and Taramani. It falls under the Shozhinganallur assembly constituency and Chennai South parliamentary constituency. Rajiv Gandhi IT Expressway, Old Mahabalipuram Road, East Coast Road, and Inner Ring Road are the prominent roads that connect the area to the rest of Chennai. The Chennai International Airport is only at a distance of 16km. Guindy and Tambaram are the nearest railway station and St. Thomas Mount and Alandur are the nearest Metro Stations. Indian Institute of Technology, Guru Nanak College, and National Institute of Fashion Technology are the popular educational institutions in the area. To get funds to meet their financial requirements, people rely on gold loans in Perungudi.
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Gold Loans at the privacy of your home

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What is an online gold loan?

Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.

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 do I close my loan on gold and release my jewels?

You can close your gold loan in cityname in one of several ways to finish complete repayment and have your collateral released. One of the options you can use is an option called 'close loan' online. In this method, the closure summary of your loan will be displayed in the app on your profile. The details enclosed are accrued interest, rebate amount(if applicable), the final payable amount for your gold loan. Your loan manager will handover the gold jewelry or ornaments you had pledged as collateral once your loan account has been closed.

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. 

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