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

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3,503*
lender banks
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.

3,503*
lender banks

Gold Loan in Rajkot

Rajkot, the fourth-largest city in Gujarat, is the core of the Saurashtra region. It is located on the banks of Aji and Nyari rivers and this city has been reviewed as one of the cleanest cities in India. The father of our nation, Sri Mohandas Karamchand Gandhi, is from this magnificent city of Rajkot. The place is a proud home to people coming from different languages, such as Gujarati, Hindi, English, Bengali, Tamil and Malayalam. The city holds numerous historical structures such as the Connaught Hall, Vishwakarma Prabhuji Temple, Jubilee Garden, Swaminarayan Gurukul, Watson Museum, Rashtriya Shala, Rotary Dolls Museum, Kaba Gandhi No Delo and the Rotary Dolls Museum. The place is also a hub for several cultural, industrial and economic activities. Garba, a local festival celebrated during Navratri, is highly popular among the community. The people mostly depend on gold loans in Rajkot for expanding their businesses.

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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 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!

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 jewelry 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

Can I take more than one loan at a time?

At Rupeek, it is possible to take more than one loan at a time! It is noteworthy that if you are looking to avail of secured loans, the loan amount you are eligible for depends entirely on the value of the collateral. According to the norms set by the industry, the borrower can get up to 75% of the market value of the pledged gold as a gold loan in Rajkot. As long as your collateral is of a corresponding value, the minimum amount you are eligible to receive is INR 15,000 and the maximum amount is INR 1.5 Crores.

How do I know if the executive is authentic while applying for an online gold loan?

One of the highlights of availing an online gold loan is that it can be done end-end right from the comforts of your home! Once you have placed your loan request, a Rupeek executive will arrive at your doorstep to value your gold. If need be, you can verify the authenticity of the executive in the following ways:

  • In-app verification
    • Once the executive reaches your premises, an OTP will be sent to your number which the executive will then enter on his app to verify the match.
  • ID Card
    • The executive will display his identification card issued by Rupeek
  • ID Proof
    • On demand, the executive will display a government ID proof

What are the documents that I need to submit while applying for a gold loan?

A gold loan only requires you to submit KYC documents for verification before the loan can be processed and disbursed. This includes ID proof and address proof, which can be a driver’s license, Aadhar card, voter ID, PAN card, or passport. Along with this, a utility bill or lease agreement must be provided. One of the main advantages of a secured loan is the minimum documents that it requires. It means that the loans are easy to procure as well as flexible, thanks to the relaxed eligibility criteria. While other sources of funds, such as unsecured loans demand several documents to prove your financial health, a secured loan can be obtained with just the Aadhaar card.

Are there any charges levied for late payment of interest?

Lenders usually do tend to charge a penalty fee in case of default of payment or arrears. This charge is usually carried over to the next monthly payment. In case of default of payments or arrears of the next payment as well, the lender is left with no other choice but to hand over the issue to the respective loan managers. Stringent action will be taken against the borrower to ensure that the repayments are done on time. In order to avoid any such circumstances in the future, the borrower has to take care not to miss out on payments or delay the payments. As a borrower your number one priority has to be prompt repayment of loans.