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

Gold Loan in sailashree vihar

Sailashree vihar is one of the most famous towns in odisha state capital, bhubaneswar. The place is within a working distance of the town's it centre, i.e. patia. The town's it center is made up of the offices of some of the biggest multinational it firms including tcs, infosys, cognizant etc. The locality is also within a working distance of kiit university, one of odisha's prominent colleges. Via gold loans in sailashree vihar, people in this locality try to encourage their children to kiit university. There is also the cbse regional office located in this city. Some of bhubaneswar's prominent temples such as shirdi sai baba temple, tarini temple, ram temple, and shikhar chandi temple are in the locality. This is one of bhubaneswar's busiest localities.

Gold Loans at the privacy of your home

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What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.

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

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

You can close your gold loan in Bhubaneswar 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.

Can I close the gold loan earlier than intended?

Yes you can close the gold loan in Bhubaneswar earlier than the tenure as long as your lender has no lock-in period or prepayment penalties in place. Whereas some other lenders might have small penalties ranging up to 200 rupees if you wish to foreclose your loan account 3 months or 1 month before the lock-in period set upon the respective lender's discretion. The penalty also depends upon your loan amount. However, Rupeek does not levy any amount from its borrowers if they wish to close their loan account prematurely. Rupeek always makes sure that its borrowers are provided with the most convenient and hassle-free options regarding their gold loan in Bhubaneswar.
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