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Gold Loan in ravindra nagar

Ravindra nagar is a rural place in Andhra Pradesh, in the district of kadapa. The town lies approximately 3.8 km from kadapa junction railway station. It is located approximately 9 km from kadapa airport. Ravindra nagar is a busy town, dotted with numerous government and private institutions. Some of the locality's influential institutions include government iti, the sub registrar office, and the post office. Ravindra nagar residents have convenient access to banks, atms, worship sites, gas stations, general stores, fast food joints, internet cafes, kalyan mandapa (marriage hall), gym, etc., all of which are present in this area. In ravindra nagar, business owners also take advantage of gold loans to extend their business at this spot.

Documents required for an online gold loan

A gold loan is the 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:

  1. 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.
  2. 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.

Benefits of an online gold loan

The benefits a borrower can reap from an online gold loan are boundless! All you need to do to avail an online gold loan is download the lender's app and place a loan request. One of the best features of a gold loan is that this process can be done online entirely without manual intervention provided that is what the borrower prefers. The borrower also has the flexibility to place a call on the lender's customer care number to avail the same if he/she were to feel like they might need assistance with the process. All this happens right from the comforts of your home. Even when it comes to gold valuation, you do not need to venture out with expensive gold in your pocket! The lender assigns a representative that will visit you at a location and time as stipulated by you. While an online gold loan does require a few basic documents, you can also avail a loan with just your Aadhar card! As a borrower, you are eligible to receive up to 75% of the gold you are pledging. If both parties are in agreement with the loan amount, the loan is disbursed to your account within a matter of 10 minutes. What's more, the entire process takes only an hour end-end!

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Frequently asked questions

In case of default, when will the gold jewellery be auctioned off?

Your gold collateral will be auctioned off after 30 days from the end of the loan term. If the lender has arrived at a situation where he has to auction off the gold, it will only be carried out after informing the borrower. Any requests that the borrower would like to make in that event will be dealt by the lender on a case to case basis. In order to avoid these unfortunate circumstances after sanctioning the loan, the borrower has to make their EMI payment the first priority on their list. Even before entering into a contract with the lender, the borrower has to carefully evaluate the options available for them and come to a conclusion regarding a loan scheme after careful deliberation. The borrower has to consider the weight of the EMIs as well as the personal expenses on his pocket before opting for a scheme.

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

You can close your gold loan in Kadapa 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.
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