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

Gold Loan in sigra

Sigra is located in the downtowan area of Uttar Pradesh. It is mainly a residential zone with several amenities for a resident. The city also plays hos to the Sampurnand Stadium more commonly called as the Sigra Stadium. Kids from various localities around this region are well-trained in various martial arts like karate. Amenities like malls and shopping complex and access to public and private offices, schools, banks and hospitals plays as the enticing factor for residents to this region. Some of the surrounding localities to this place are Mahmoorganj, Rathyatra, etc. Multiple financial institutions provide gold loans in Sigra.
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Gold Loans at the privacy of your home

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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.

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

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Frequently asked questions

Can I take more than one loan at a time?

Yes, you can take more than one loan against gold at a time. In the case of a secured loan, it is the collateral that determines how much funds the borrower can obtain in the form of a gold loan in cityname. If the borrower has further collateral that can be submitted with the lender in exchange for cash, it is possible to do that. By pledging his asset, the borrower can get upto 75% of the market value of the gold as funds. Since a secured loan is secured with an asset of the borrower that can be sold in case of failure of repayment, the lender will not hesitate before sanctioning the loan. 

What kind of repayments can I do?

Gold loans in <cityname> are pervasively availed because of how flexible they are. Rupeek especially strives to provide affordable solutions and offers different flexible types of gold loans repayment schemes. They are classified as follows:

1) Interest Payment: In this method of repayment, you pay a monthly interest concerning only the principal amount

2) Closure Payment: In this method of repayment, your pledged jewelry will be returned once closure payment is made

3)Part-Payment: In this method of repayment, your monthly payment is more than the interest payable per month.

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