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Chennai
saidapet
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in saidapet

Saidapet was once the Chingleput district's administrative headquarters. Today, Chennai is a busy area. With the exception of the High Court of Madras, the Court of Saidapet is the only other court of justice in the region. The suburban train station at Saidapet services the area. The area also enjoys MTC buses and metro rail network access. Bazaar Road is the primary shopping spot for the residents of Saidapet. Saidapet's meat and fish markets draw customers from far-off localities. Vendors and traders also take advantage of easy gold loans in Saidapet to boost their companies. Any of the neighborhood 's popular places of worship are Karaneeswarar temple, Ilangaali Amman Kovil, Soundareswarar temple, Our Lady of Good Health Church, Little Mount Church, and Dastagir Sahib Jamia Mosque.
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Gold Loans at the privacy of your home

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Eligibility criteria for an online gold loan

As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-

1) Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.

2) You must be an independent major, that is of the age 18 or above

3) Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.

4) The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)

It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days. 

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

* Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

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Frequently asked questions

Is a guarantor or introducer required for availing a gold loan? Do I need to open an account with a bank?

No, the former is not a necessity, while the latter is. You do not require a guarantor or an introducer with most lenders if you are looking to avail a gold loan in <cityname>. However, one does mandatorily require a bank account. This is because the lender needs to direct funds and collect repayments from the borrower through this account. Rupeek also follows suit and does not require the borrower to have a guarantor or an introducer. Since the credit amount is transferred digitally, the bank account is considered mandatory. If you do not have a bank account, you can create one before applying for a gold loan. 

Can I transfer my loan from my existing lender?

Yes, at Rupeek you can transfer your loan from an existing lender to another. In case you want to process a balance transfer for an existing loan from your current gold loan company to Rupeek, all you will have to do is arrange for the renewal amount and we will help you with the rest. Additionally, when you transfer a loan with Rupeek, we send you a consolidated and personalized report detailing how much more you will save with the loan amount. A loan transfer with us also entails maximum security measures for your gold, and flexible repayment, such as the option to pay interest once in every 6 months Kindly visit our loan transfer page for more details
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