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

Gold Loan in shivaji park

Shivaji park or officially known as Chhatrapati Shivaji Maharaj Park is the largest park in this island city, Mumbai. This place is of it is of historical and cultural value because of the political and social gatherings it has witnessed. Shivaji Park is renowned as the cradle of Indian cricket. It is home to eight cricket clubs, such as those of Anna Vaidya and Ramakant Acharekar, which produced plenty of International cricket players for India. It is one of the most important Budding grounds for Indian cricket, with numerous famous cricket legends being trained here like Sachin Tendulkar, Sanjay Manjrekar, Sunil Gavaskar, and Ajit Agarkar. Accessing a gold loan in Shivaji Park for meeting the financial requirements is a common norm here among locals. The upscale neighborhood is also one of the most luxurious residential localities of this city. The statue of Chatrapati Shivaji is the most important landmark for this area.
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Gold Loans at the privacy of your home

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Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

Eligibility criteria for an online gold loan

As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-

1) Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.

2) You must be an independent major, that is of the age 18 or above

3) Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.

4) The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)

It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days. 

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Frequently asked questions

Can I take a gold loan for my education?

Yes, you can take a gold loan in cityname for your educational purpose. In fact, one of the main reasons why gold loans in ciytname are taken is for educational purposes. A secured loan is one of the easiest and most flexible loans to take. The low-interest rates, the high loan to value ratio, and the flexible repayment schemes available with an online gold loan in cityname makes it one of the best sources of funds. The loan term for a gold loan in cityname can range from 6 months to 12 months. For these reasons, if you are pursuing higher education in India or abroad, a gold loan is one of the best options before you.

Can I take more than one loan at a time?

At Rupeek, it is possible to take more than one loan at a time! It is noteworthy that if you are looking to avail secured loans, the loan amount you are eligible for depends entirely on the value of the collateral. Since according to the norms set by the industry, the borrower can get up to 75% of the market value of the pledged gold as gold loan in cityname. As long as your collateral is of a corresponding value, the minimum amount you are eligible to receive is INR 15,000 and the maximum amount is INR 1.5 Crores. 

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