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Chingleput
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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Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

Eligibility criteria for an online gold loan

Since a gold loan is a secured loan, it offers many benefits that the other sources of funds do not offer. Some of the benefits offered by a gold loan include:

  1. Low rate of interest
  2. Minimal documentation
  3. High loan amount
  4. Flexibility in repayment options
  5. Instant loan approval, etc.

The requirement for eligibility for a gold loan isn’t much. To avail a gold loan, the borrower has to fulfill the below-mentioned criteria:

  1. The borrower shouldn’t be a minor
  2. The mortgage loan should be of 18 karat or above
  3. The gold should be in the form of ornaments or jewelry.

The loan amount is then calculated by the lender by multiplying the quality, purity, and weight of the gold. The lender then multiplies it with the average price of gold for the past thirty days. The resultant amount id the loan amount that the borrower can borrow.

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Frequently asked questions

Is a gold loan taxable?

Though gold loans can be spent as per the discretion of the borrower, whether or not your gold loan is taxable primarily depends on the purpose for which it is being availed. For instance, gold loans that are availed for business purposes are taxable. Additionally, a tax rebate can be claimed on the interest component as well. However, this is not the case if the gold loan is being availed for personal use. That is if the loan is being availed to be spent on educational purposes, a wedding, medical emergencies, purchase a vehicle, or remodel your house, then the borrower cannot claim a deduction.

Which cities is Rupeek currently operational in?

At Rupeek, we understand that every loan applicant will have a different financial need and varying levels of urgency. At Rupeek, we ensure to serve each of these urgent loan requirements. Rupeek takes extreme pride in it’s fast, fair, and flexible loan services. Irrespective of whether or not you have all the required documentation or a healthy credit score, Rupeek ensures to have a solution for everybody. Which is how we have catered to about one lakh happy customers across the country! Here is a list of all the cities we currently operate in- 

  1. Bangalore
  2. Mumbai
  3. Delhi
  4. Chennai
  5. Kolkata
  6. Ahmedabad
  7. Pune
  8. Hyderabad
  9. Surat
  10. Jaipur
  11. Coimbatore

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