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Gold Loan in sakoti tanda

Sakoti tanda is a sardhana block village in the uttar pradesh state meerut district, india. The nearest villages are dadri, kapsarh, jitpur, kaili and jasrathpur. This town is well linked to an comprehensive rail and road network. In this small town with a plethora of or academic institutes such as st. charles college sardhana meerut, janta adarsh inter college kapsarh meerut and jawahar navoday vidyalya sardhana meeruf, educational opportunities prevail. Sakoti tanda has had its own significance at fort warangal in the first battle for india's independence in 1857. The zealous freedom fighters assaulted and destroyed much in the british settlers at the nearby prison castle. gold loaning in sakoti tanda is a common means for new business and industry prospects. The famous sadar bazaar, and chandani bagh and bagh business.

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

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.

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Frequently asked questions

What are the different gold schemes available at Rupeek?

Rupeek is one of the best online gold loan platforms that makes sure that it provides its borrowers with flexible repayment options so that they do not have to land themselves in trouble over repayment of the loan. Rupeek offers its borrowers with a range of schemes from which the borrower is free to pick that is best suited for them. Rupeek takes into consideration the convenience of the borrower to evade any problems in the future. Three different schemes under each amount are available when opting for a gold loan under Rupeek. It is listed in the table below.

Amount

Interest rate

Less than 2 lakh

The interest rate is at 1.29% at the lowest and 1.69% at the highest.

Between 2 lakh and 5 lakh

The interest rate can range between 0.99% and 1.59%

Between 5 lakh and 20 lakh

The interest rate can be as low as 0.89% and as high as 1.39%

Above 20 lakh

The interest rate falls between 0.89% and 1.39%.

Under each loan amount, Rupeek offers you a range of choices to pick from. They are classified into three:

  1. High-value loan (which has the lowest interest rate)
  2. Max value loan
  3. No tension max value loan (which has the highest interest rate)

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 Meerut. 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. 

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