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Gold Loan in shevapet

Shevapet is a village in tamil nadu province, in salem district. It is part of the district of the assembly in salem (north), and its representation in lok sabha is the constituency of the parliament in salem. The pin code for shevapet is 636002 and its post office is located within the village itself, that is, shevapet. Some of this village's nearest localities are statebank colony, sendarapatti, jagir reddipatti, gugai, and rajaram. One can travel by rail to and from shevapet, and salem town railway station and salem market railway station are some of the nearby railway stations to the locality. gold loans in shevapet are freely and conveniently accessible to people of the city and around it.

What is an online gold loan?

Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.

Benefits of an online gold loan

The benefits a borrower can reap from an online gold loan are boundless! All you need to do to avail an online gold loan is download the lender's app and place a loan request. One of the best features of a gold loan is that this process can be done online entirely without manual intervention provided that is what the borrower prefers. The borrower also has the flexibility to place a call on the lender's customer care number to avail the same if he/she were to feel like they might need assistance with the process. All this happens right from the comforts of your home. Even when it comes to gold valuation, you do not need to venture out with expensive gold in your pocket! The lender assigns a representative that will visit you at a location and time as stipulated by you. While an online gold loan does require a few basic documents, you can also avail a loan with just your Aadhar card! As a borrower, you are eligible to receive up to 75% of the gold you are pledging. If both parties are in agreement with the loan amount, the loan is disbursed to your account within a matter of 10 minutes. What's more, the entire process takes only an hour end-end!

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Frequently asked questions

My payment has failed, what do I do?

Since all the transactions take place online, in the case of an online gold loan in Salem, it is possible that due to some error, the transaction may fail. If this should happen to you, rest assured since within 72 hours from when the amount was debited from your account, it will be credited back to you. This is what the guidelines of the bank state. In case it doesn’t refund within that duration, make sure to get in touch with your bank. If you attempted to make the transaction via NEFT, it will take longer to get refunded to your account. If you still need help with the transaction error, you can always get guidance and help from the support team of the lender.

What are the gold items I can pledge

As per the regulations of Rupeek, only gold ornaments can be pledged as the collateral with the lender. Gold ornaments are usually between 18 karat and 22 karat. Purer forms of gold , that are between 22 karat and 24 karat exists in the form of coins or bars. Although there are lenders that accept gold coins and gold bars for gold loans in Salem, most lenders only accept gold ornaments. The gold ornaments that can be pledged with Rupeek include the following:

  1. Chains and necklaces
  2. Haraams
  3. Mangalsutra
  4. Rings
  5. Bracelets
  6. Bangles
  7. Earrings
  8. Anklets
  9. Hip chains
  10. Cufflinks
  11. Coins
  12. Bars

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