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

Gold Loan in shankar nagar

Shankar nagar is a nagpur city locality in Maharashtra, indian state. Some of shankar nagar's nearby localities include om sai nagar, shriashish, and shivaji nagar. The railway station at nagpur junction is very close from this spot. The locality has some famous movie theaters like sudama theater and punam theatre. Hanuman mandir and maharana pratap smruti mandir are some of the temples in this district. Any of the nearest mosques in this locality are sailani darga and ajni masjid. Hospitals such as wockhardt super speciality hospital, medwin hospital, and bhagwati hospital are plentiful at the locality. Because of the availability of gold loan in shankar nagar, people here don't face any trouble about hospital fee. There are also several lovely parks in the vicinity, such as trikoni park and ritz safari park.

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.

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

What is a gold loan?

A gold loan is a type of collateral-based loan. A collateral-based loan is one that requires the borrower to submit their collateral (in this case, gold) before the lender. This makes their loan secured. The security of the loan also benefits the borrower in many ways, such as:

  1. Lower interest rates
  2. Flexibility in repayment options
  3. Minimal documentation etc.

A secured loan also makes it possible for the lender to disburse more funds. Up to 75% of the market value of the pledged gold can be disbursed in the form of loans. In some cases, the borrower also obtian 90% of the market value of the loans as collateral.

Can I get immediate cash with gold loan?

Yes, you can get immediate cash with a gold loan in Nagpur with the help of Rupeek. One of the most attractive features of all online gold loans in Nagpur, including Rupeek is that the gold loans can be obtained instantly. Within minutes from the approval of your loan, the loan amount will get disbursed into your account. If you are looking for immediate funds or emergency loans, then applying for a gold loan in Nagpur is your best bet. The security associated with a collateral-based loan such as a gold loan allows the lender to provide the borrowers with many benefits. The whole process when acquiring an online gold loan in Nagpur, from the loan application to the disbursal of the amount, does not take more than an hour. 
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