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Gold Loan in tasgaon

Tasgaon is a town and a municipal council situated in sangli district, Maharashtra. With the development of sangli city, tasgaon has turned into a suburban satellite town renowned for its temple of ganapati, where lord ganesha's trunk is to the right. Tasgaon is named after parshuram bhau tasgaonkar, who narayanrao ballal peshwa received the town as a estate in 1774. The region is renowned for its grape production, exporting grapes grown here to the uae, uk, sri lanka, hong kong, bangladesh, and singapore. gold loan is very common among grape farmers in tasgaon, who grow twice the nashik grapes.

Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

Eligibility criteria for an online gold loan

Since a gold loan is a secured loan, it offers many benefits that the other sources of funds do not offer. Some of the benefits offered by a gold loan include:

  1. Low rate of interest
  2. Minimal documentation
  3. High loan amount
  4. Flexibility in repayment options
  5. Instant loan approval, etc.

The requirement for eligibility for a gold loan isn’t much. To avail a gold loan, the borrower has to fulfill the below-mentioned criteria:

  1. The borrower shouldn’t be a minor
  2. The mortgage loan should be of 18 karat or above
  3. The gold should be in the form of ornaments or jewelry.

The loan amount is then calculated by the lender by multiplying the quality, purity, and weight of the gold. The lender then multiplies it with the average price of gold for the past thirty days. The resultant amount id the loan amount that the borrower can borrow.

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Frequently asked questions

What is an LTV?

An LTV abbreviated as Loan-to-Value ratio is a financial term used by the lenders to basically assess the risk before approving a loan to the customer. It determines the relationship between the loan amount to be granted and the value of the asset pledged, in the case of gold loans, the value of the gold ornaments. Lenders can obtain up to 75% of the value of the pledged gold as the loan amount. The gold valuation is done by the lender and the amount that can be obtained can be calculated online, on the web portal of the lender, including Rupeek.

Is there any maximum and minimum limit for availing gold loan?

The minimum amount to avail a gold loan with Rupeek is Rs. 15,000, and the maximum loan amount that can be sanctioned is Rs. 1.5 Crores. Gold loans are the perfect source of funds for you if you are looking for high-value loans with low interest rates, as long as you have the collateral. The amount of loan amount that you are eligible for depends on the value of the gold you have pledged with the lender. When you take a gold loan, you can get funds equivalent to 75% of the market value of the pledged gold. It can also go up to 90% in some cases.
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