Low Interest Gold Loans in Rajahmundrystarting @ 0.49%P.M. (5.88%* P.A.)

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

3,545*
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low interest gold loan

Get a New Gold Loan

IconInstant 30 minuntes

Shift your Existing Gold Loan

IconSave ₹37,131*

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

3,545*
lender banks

Gold Loan in Rajahmundry

Rajamahendravaram, also popularly known as Rajahmundry boasts the honor of being the cultural capital of Andhra Pradesh. Telugu is the most widely spoken language in the state of Andhra Pradesh. Rajamahendravaram is also the city that has been credited with the birth of the Telugu language. This is yet another jewel in its crown. Ammaraja Vishnuvardhana The First was the one who established Rajahmundry in the 10th century. It was a nodal center where India’s freedom struggle as well as social mobilization movements for widow remarriage and school for girls, took shape. While the city flourishes as an important socio-cultural center, on the one hand, it also functions as a growing industrial hub on the other. Several small and large-scale industries create employment opportunities primarily for the local population. People in the region make gold investments in order to improve their families’ financial status. Taking gold loans allows people in the area to secure their future and make ends meet. Prominent tourist attractions in the city include Markandeya Temple, the Kotilingeswara Temple, Papi Kondalu, and ISKCON Temple.

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Documents required for an online gold loan

A gold loan is a perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:

  • Identity proof – any document such as voter ID, PAN Card, Aadhaar Card, Passport, or driving license can act as the identity proof of the borrower.
  • Address proof – the same documents as mentioned above, except for voter ID and PAN card can act as the address proof of the borrower.

Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.

What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail of the loan right from the comfort of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender-appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

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Gold Loan Calculator

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Frequently asked questions

What are the gold items I can pledge ?

You can pledge gold in any form as long as it isn't gold bars or gold coins. Any form of gold with purity ranging between 18 Karats - 22 karats can be pledged. It includes gold ornaments such as:

  1. Chains
  2. Necklaces
  3. Haraam
  4. Mangalsutra
  5. Rings
  6. Bracelets
  7. Bangles
  8. Earrings
  9. Anklets
  10. Hip chains
  11. Cufflinks

The purity of the gold item is what will determine your loan amount. In that case, gold bars and coins have higher levels of purity and might fetch higher loan amounts. However, most of the lenders in the market don't accept gold bars.

What is KYC? Why is it necessary to avail gold loan?

Know Your Customer, fondly known as KYC is a customer identification process that is carried out by the lender while initiating a request for a gold loan. The lenders require some documentation/proof to avail the customer a gold loan amount in case of any fraudulence or payment default. Most of the lenders for a long time were accepting the driving license, voters ID, pan card as KYC documents, but due to stricter RBI regulations in the aftermath of borrowers faking these documents most lenders now require Aadhaar card of the customers to avail a gold loan as it has retina scan, fingerprint and these cannot be fabricated.

How is the interest rate calculated for gold loans?

Gold loans are one of the most flexible forms of credit. There are several elements to an online gold loan. As a rational borrower, it is important for you to do your research on the various schemes and terms that different lenders offer before zeroing in on one. Loan amount, Loan Interest Rates, Repayment Options, Loan Terms are all factors that vary from lender to lender. You can get in touch with your lender to understand how your gold loan interest rate will be calculated. Your lender will be able to guide you through the terms of your loan in their expert opinion.

Can I get immediate cash with gold loan?

Yes, you can. Compared to other loans such as personal loans, housing loans, or auto loans, gold loan is the most convenient type of loan where the cash processing time is short. If you want to borrow a loan rendering immediate cash then applying for a gold loan online is probably the best option available in the market, as gold loans are, by far, the most immediate loans. Once you go to the website of the lender and fill out the application form, the gold loan process will be initiated on the lender's end by checking your credit score, KYC procedure and the money will be credited in your bank account almost instantly.