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Gold Loan in ponneri

Arranged along the banks of the River Arani in Thiruvallur District's Ponneri Taluk, Ponneri is a swiftly developing area. Netaji Subhash Chandra Bose is rumored to have remained here during the reign of the colonizers. It has been decided for the Smart City Development Project. Ponneri is home to several significant places of attraction such as Sri Selva Vinayakar Kovil, Sri Balasubramaniaswamy Temple, Sri Kari Krishna Perumal Temple, Agatheeswarar Temple, St. James Church, Nootreteshwarar Temple, and Sri Ranganatha Perumal Devadhanam, Anupampattu. Which is why it has been adopted under the scope of the Smart City Development Project. Some of the leading academic institutions in the area are Velammal Matric. Hr. Sec. School, St. John's Matriculation School, Velammal International Residential School, LNG Arts and Science College, Sri Devi College of Nursing, and Fisheries College and Research Institute. Residents of Andhra Pradesh often visit Ponneri for trade purposes. Both visitors as well as locals apply for gold loans in Ponneri to help meet their fund requirements.

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

Can I partially repay the gold loan amount?

Gold loans in Chennai are pervasively availed because of how flexible they are. Rupeek especially strives to provide affordable solutions and offers borrower's the opportunity to partially repay your gold amount. Yes, that's right! This process of partial repayment is known as part release of the gold loan. If you wish to complete a partial repayment on the loan, the amount can range between the monthly interest and any amount less than the full-closure amount. However, gold jewelry or ornaments you pledged as collateral will only be returned once the entire loan amount has been repaid completely.

What can I do if my lender is charging high interest?

After the start of your loan tenure if you realise that your financial institution or lender is charging high interest rate on the loan against your gold, you always have the option of transferring your loan from the existing lender to another lender. Most lenders offer a gold loan transfer facility if you have a consistent history of repaying the loan amount. Certain lenders like Rupeek takes care of the entire transfer process in case you want to process a balance transfer for an existing loan from your current gold loan company to Rupeek. The only work required from the customer's end will be to arrange for the renewal amount. 
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