close btn

Service Update- (Covid-19)

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

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.

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.

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.

Rupeek ad

Gold Loan Calculator

Frequently asked questions

What do I do if I have found a discrepancy in the returned gold?

At Rupeek, we are very keen on customer satisfaction. In the unlikely event that you find any qualms with our usually stellar customer service, you can always reach out to us for instant redressal. If at all you find that the gold jewelry or ornaments that you pledged as collateral is damaged or tarnished in any way upon return after loan repayment, you can raise a complaint on the Rupeek app from your profile. Alternately you can get in touch with a Rupeek executive on the Customer care number. A Rupeek loan manager will be assigned to tend to you and will go through your loan history and sort this out for you.

What are the things to keep in mind when taking a gold loan?

When taking a gold loan, a borrower should consider the following points before choosing a lender - 

  1. Loan-to-Value (LTV): The loan amount being sanctioned for the gold can vary between lenders. A borrower should ensure they are receiving the highest LTV amount for their gold.
  2. Interest rate: This rate determines how much a borrower will pay for the loan, so the lower this is, the better.
  3. Gold security: Without an insurance cover or secure transport of the collateral, there may be certain risks to consider which can result in major losses.
  4. Additional fees and charges: These can increase a loan amount immensely, so it’s important to look out for a lender that charges the minimum amount for services being provided.
  5. Repayment schemes: A borrower needs to be able to repay the loan amount based on their monthly budget and financial standing to avoid defaults. Borrowers should look for flexible repayment plans to ensure this is made possible.

Rupeek ad
gold img
Apply for Gold Loan 30 Minutes Doorstep Service
close
+91
Please enter valid Mobile Number
close
success img

Loan Request Successful

Your request has been received, our customer relationship manager has been notified and will call you shortly