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Jammu
sainik colony
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In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

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

Gold Loan in sainik colony

One of jammu's most sought-after addresses is sainik colony, as it is situated near ravi university, many young students are taking gold loans in sainik nagar to fund their education and find a place to stay. There are many other schools and colleges in the area along with a few nearby hospitals which make it a prime residential area of course. Shiv mandir park is near the town bringing the natural beauty to the city. The region has many popular food chain outlets bringing more appeal to the city.
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Gold Loans at the privacy of your home

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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.

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

How to repledge my existing loan?

It is possible for the borrowers to repledge their gold for another loan once their gold loan in cityname comes to an end. They can apply for a fresh loan with the same collateral. This is possible with most lenders, although each lender offers different conditions before the loan can be repledged. With Rupeek, you can repledge your collateral for a fresh loan very easily. All you have to do is get in touch with the customer support team. You can get in touch with the team either online or offline. You can make a call to the customer desk or contact via the Rupeek app. Rupeek will assign a loan manager to you, who will guide you through the process. 

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

There are several ways to close your gold loan in cityname and get your collateral released. The lenders give the borrowers an option to close their loan account online. The entire loan closure summary along with the complete details associated with it – such as accrued interest, rebate amount (if applicable), and the closure amount for the gold loan in cityname will be displayed online. The loan manager will hand over the collateral asset once the loan account is closed by the borrower. Just as the other procedures associated with an online gold loan, the closure of the loan is also a hassle-free process.

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