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Pune

Low Interest Gold Loans in India

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Low Interest Loans

Get a New Gold Loan
flash Instant 30 minuntes
Shift your Existing Gold Loan
save Save ₹37,131*

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We offer the highest per gram rate on our gold loans.

We offer the highest per gram rate on our gold loans.

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Gold secured by
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Gold Loan in Pune

Before independence, Pune has been ruled by some of the powerful empires such as the Mughals, the Marathas, Ahmadnagar Sultanate, the Peshwas and the British. The city has been the core of many revolutionary, socio-political ideas during the period of British administration and several freedom fighters emerged from here to struggle for Independence. Till date the city happens to exist as an aesthetic blend of many cultures, even the esteemed Maratha and Peshwa traditions is reflected among the people of the city. The place is a leading automobile hub in India and it also provides a superior space for learning with the help of established educational and research facilities. The common people and business groups resort to gold loans in Pune for managing their financial needs. The place is known for celebrating various festivals and Ganesh Chaturthi is immensely enjoyed among them. Apart from the many monuments, there are other places of tourist interest as well, like the Aga Khan Palace, Parvati Hills, Sinhagad Fort, Shaniwar Wada, Dagdusheth Halwai Ganesh Temple, National War Museum and Osho Ashram.
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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.

What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.

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Frequently Asked Questions

What are the benefits of a gold loan?

A gold loan offers many benefits when compared to other types of loans. Gold loan benefits include faster processing time, higher loan to value ratio, lower interest rates, the convenience of availability of the collateral, faster loan disbursal, and relaxed eligibility criteria. Based on the lender, you may also enjoy other benefits like a waiver on the processing fee and insurance cover. Since the lender has been provided with an asset of the borrower, it Is understood that in case of failure of repayment of the loan, the lender can sell the asset of the borrower to settle the debt. This is why the lender can offer various benefits to the borrower, in the case of a gold loan.

What happens if the loan amount is not repaid on the due date?

One of the main occurrences that the lender, as well as the borrower, try to avert before sanctioning a gold loan in cityname is a failure of repayment in the future. The borrower is provided with an array of repayment options from which the best suited and the most convenient one can be picked, keeping in mind the financial status as well as the personal expenses of the borrower. But even with these precautionary measures, it is still probable for the borrower to meet with an unprecedented financial emergency in the future. If the borrower fails to make the EMI payment on time, a penalty charge will be added to the next EMI. If the problem persists and the borrower defaults his repayment again, the loan will be auctioned off. The credit score of the borrower will also be adversely affected. It is advised that as soon as the borrower meets with a financial emergency, the lender has to be immediately contacted. 

How will gold rate affect my gold loan amount

It is noteworthy that the gold valuation as per the lender is not always at par with the amount as per the current gold gram rate prevailing in the market. This difference arises because the lender calculates the market value of gold by adding up the individual gold rates of the past thirty days and divides it by 30. This rate is then applied to the weight of the gold. Owing to this, your gold valuation may be over or below the gold rate as of that day. If you are looking to avail a high-value loan, ensure to avail it in a month where the gold rate has been performing well.

How does gold loan work?

Gold loans are those loans that require you to secure your credit amount with collateral, collateral in this case being gold. Lenders usually only accept gold in the form of jewelry or ornaments as opposed to gold coins or bars. It is noteworthy that the gold valuation is almost always different from the market value. This is because the lender arrives at the gold gram rate based on the average rate from the past 30 days. The loan amount that you are eligible to receive depends on the valuation of your gold. This amount is then transferred to you within 10 minutes. 

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