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Gold Loan in Thiruvallur

Thiruvallur is a fast moving, rapidly growing city in Tamil Nadu, and is just 46Km away from Chennai, one of India’s largest metropolitan cities. It lies on the banks of river Cooum and is home to a large number of temples of various shapes and sizes. The Veeraraghava temple is the most famous temple in Thiruvallur and attracts thousands of tourists every year. Other famous temples and structures in this town include the Sri Panchamukha Hanuman's 40-feet tall statue, the Poondi Reservoir, Maha Prathiyamgira temple, Veeraraghava Perumal temple pool and Sri Theertheswarar Devasthanam. This city attracts tourists from across the world. And during the Aadi Krithigai and Padi Bhujai festivals, the city sees tourists and devotees in the millions. It is also quite close to Tirupati, one of the most prominent religious destinations in the world. Thiruvallur is the manufacturing hub of several large companies such as Mitsubishi Lancer, Coca Cola, Hanil Lear, Kingfisher, TCL, Caterpillar, Hindustan Motors and more. It is a prominent industrial and manufacturing belt in the region. Gold is an important part of the culture here, and people follow gold rates very closely. Many people also take a gold loan in Thiruvallur to sustain or start a business.

Documents required for an online gold loan

A gold loan is the perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:

  1. Identity proof – any document such as voter ID, PAN Card, Aadhaar Card, Passport, or driving license can act as the identity proof of the borrower.
  2. Address proof – the same documents as mentioned above, except for voter ID and PAN card can act as the address proof of the borrower.

Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.

What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.

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Frequently asked questions

Who can avail Rupeek gold loan?

If you are above the age of 18 and possess the required KYC documents and gold amount, you can avail of a Rupeek gold loan! Our gold loan eligibility criteria are minimal in order to make gold loans more accessible to all. The eligibility criteria for a gold loan is less compared to other sources of funds. As long as you are above 18 years of age, and the gold that you are providing as collateral is above 18 karat gold, you are eligible to get a gold loan. Normally, the gold that you keep as collateral can only be in the form of ornaments.

Are there any charges levied for late payment of interest?

Yes, lenders usually charge a penalty fee on failure of repayment of the gold loan in Thiruvallur. This charge will be added to the next monthly payment. On failure of repayment of the next payment as well, the lender will be forced to hand over the matter to the respective loan managers. They are likely to be harsh with the borrowers to make sure that the repayments are done on time. In order to avoid any such circumstances in the future, the borrower has to take care not to miss out on payments or delay the payments. The EMI payment has to be a priority of the borrower.

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