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Gold Loan in Thrissur

Thrissur is the cultural capital of Kerala. It is located 275 km north-west of Thiruvananthapuram. One of the oldest cities in Kerala, Thrissur has once served as the capital of the Kingdom of Cochin. Currently, it is a major commercial, financial, and education center. A hub of many professions, including the textile and jewelry business, the Kerala Sahitya Academy, and Kerala Lalithakala Akademi are situated also there. The city is also home to the headquarters of several major banks, such as Dhanalakshmi Bank, Catholic Syrian Bank, and South Indian Bank. The breeding ground of many Malayali entrepreneurs, businesses flourish in the city. The Vadakkunnathan Temple Guruvayur Temple, Basilica of Our Lady of Dolours, Paramekavu Bhagvathy Temple, Shakthan Thampuran Palace, Marottichal Waterfalls, and Chavakkad Beach are among the major tourist attractions in the area. Thrissur pooram is a spectacular temple festival that is celebrated annually. To meet their emergency fund requirements, the people rely on gold loans in Thrissur.

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.

Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

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Gold Loan Calculator

Frequently asked questions

Can I increase my loan amount after taking the loan?

Yes, Rupeek can increase your loan amount after you have taken out a loan on gold. Based on the present gold rate, Rupeek will pay you the additional loan amount for your gold. Rupeek is one of the best online providers of gold loan in Thrissur. It makes sure that its customers are satisifed with the gold loan service that it provides. All kinds of services that its borrowers request, it tries its best to accommodate. Contact us to learn more. 

Can I avail EMI facility on gold loan?

Yes, EMIs are available for a gold loan in Thrissur. EMI stands for Equated Monthly Installment where a fixed amount is paid every month towards the repayment of the loan. The EMI consists of both the principal amount as well as the compound interest. EMIs are fixed and consistent and make sure that the repayment of the loan does not burn a hole in the pocket of the borrower. Before you place an application for a loan, using the online gold calculator, it is possible for you to check the amount you will have to pay as EMI for your gold loan in Thrissur.
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