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

Gold Loan in thorapadi

Thorapadi is one of the residential plus commercial area of Vellore. This place is under the Anaikattu assembly constituency & Vellore Parliamentary constituency. Vellore Central Prison, Wardr's Training institute, Academy of Prisons, & Correctional Administration, Women's Jail, Thanthai Periyar Govt. Engineering College & Polytechnic, & Parade Grounds are situated here. Katpadi junction and Vellore cantt are nearest railway stations. Some major city connecting roads passing through here are Azad road, Jail road, Periyar College road, Netaji Street, CMC- Thanthai Periyar college road, & Periya Theru. Few educational institutes here are Thanthai Periyar Govt. institute of technology, Thorpadi Govt. Hr. Sec. School, & Newton Matric & nursery school. The best way to pay your fees for these institutes is by getting a gold loan in Thorapadi.
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Gold Loans at the privacy of your home

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What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

Benefits of an online gold loan

The benefits a borrower can reap from an online gold loan are boundless! All you need to do to avail an online gold loan is download the lender's app and place a loan request. One of the best features of a gold loan is that this process can be done online entirely without manual intervention provided that is what the borrower prefers. The borrower also has the flexibility to place a call on the lender's customer care number to avail the same if he/she were to feel like they might need assistance with the process. All this happens right from the comforts of your home. Even when it comes to gold valuation, you do not need to venture out with expensive gold in your pocket! The lender assigns a representative that will visit you at a location and time as stipulated by you. While an online gold loan does require a few basic documents, you can also avail a loan with just your Aadhar card! As a borrower, you are eligible to receive up to 75% of the gold you are pledging. If both parties are in agreement with the loan amount, the loan is disbursed to your account within a matter of 10 minutes. What's more, the entire process takes only an hour end-end!

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Frequently asked questions

How does gold loan work?

Gold loans are those loans that require you to secure your credit amount with collateral, collateral in this case being gold. Lenders usually only accept gold in the form of jewelry or ornaments as opposed to gold coins or bars. It is noteworthy that the gold valuation is almost always different from the market value. This is because the lender arrives at the gold gram rate based on the average rate from the past 30 days. The loan amount that you are eligible to receive depends on the valuation of your gold. This amount is then transferred to you within 10 minutes. 

Who can avail Rupeek gold loan?

A gold loan is one of the most flexible sources of funds. That is to say that the borrower doesn’t have to fulfill many criteria to be eligible for the online gold loan. Unlike other unsecured sources of funds, such as a personal loan, the borrower isn’t required to have a stable source of income or a high credit score. The security of the pledged asset opens up several doors of benefits for the borrower. 

The only eligibility criteria that the borrower has to fulfill are listed as follows:

  1. The borrower has to be above 18 years old to qualify for the loan. Usually, minors are not allowed to acquire loans in their name.
  2. The gold that is to be pledged has to be equal to or above 18 karat gold. 18 karat gold is the cheapest and the least pure form of gold that can be pledged before the lender. 
  3. The pledged gold has to be in the form of ornaments or jewelry. Gold, depending on its purity, exists in different forms. The only form of it that can be submitted before the lender is ornaments. 

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