Low Interest Gold Loans in Tirunelvelistarting @ 0.49%P.M. (5.88%* P.A.)

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low interest gold loan

Get a New Gold Loan

IconInstant 30 minuntes

Shift your Existing Gold Loan

IconSave ₹37,131*

We offer the highest per gram rate on our gold loans.

3,551*
lender banks

Gold Loan in Tirunelveli

At a distance of 73kms from Kanyakumari, the 2000-year-old city Tirunelveli is located. This was made as a separate district in 1790 by the British East India Company. This major city holds the legacy of the Pandyas, the Cholas, the Cheras, the Vijayanagar empire and the British. Presently known as the ‘City of Monuments’, the region functioned as an economic hub during British rule and it specialized in the production and export of materials like cotton, tobacco, jaggery, salt and chilies. Agriculture takes the supreme role in the district’s economy and it is followed by service-related sectors like paper, cement, power loom, spinning, etc. In order to manage business expansions and personal needs, the people seek the help of gold loans in Tirunelveli. The city’s outskirts comprise the Special Economic Zones where companies like Indian Oil Corporation Limited, Coca Cola, Bosch Limited and Yokohama Rubber Company have set up their manufacturing facilities. The Nellaiappar Temple in the city is considered the most popular temple.

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What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail of 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 of 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.

Eligibility criteria for an online gold loan

As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-

  1. Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.
  2. You must be an independent major, that is of the age 18 or above
  3. Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.
  4. The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)

It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days.

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Frequently asked questions

How is the interest rate calculated for gold loans?

Different lenders offer different rates for gold loans. The interest that is calculated by the lender, the loan amount, as well as the loan term, differs from lender to lender. The schemes that the lenders offer are also different from each other. There are several schemes that each lender offers, comprising of different combinations of the loan amount, the loan term, and the loan interest. You can know about the various schemes that the lender offers by visiting their sites. It should be after a careful evaluation of the scheme that the lender offers and of your financial health that you should narrow down to a scheme that is best suited to you.

Is there a Rupeek branch which I can visit? How do I find the nearest one?

Rupeek has over 3000 locations spread over 27 cities in India, that include Bangalore, Mumbai, Delhi, Chennai, Kolkata, Ahmedabad, Pune, Hyderabad, Surat, Jaipur, and Coimbatore. Lender branches have been set up with partnered banks to ensure that are branches within three kilometers from the main areas of the cities. Rupeek has a network of regional offices and bank branches spread across the country. If you wish to visit a branch, first you have to find out the branch that is closest to you. You can make a visit after you identify the branch. Rupeek will be more than happy to see to your requirements.

How do I make an interest payment?

Gold loans in Tirunelveli are so widely popular because of how flexible and speedy they are. These gold loans can also easily be availed online end-end except for the gold valuation process which requires a gold appraiser to visit you in person. Now most lenders provide the option to make your interest payment online. All you'll have to do is log in to the website portal or access your profile through the app. If you wish to make an interest payment, you can select the 'Pay Interest' as the payment option and continue with the payment method of your choice.

Can I pledge anything other than gold?

No. Most lenders do not accept anything other than a gold pledge as their lending partners accept only gold jewelry. The kind of collateral and the type of it that an online lender accepts also depends on the conditions of its partner banks. Rupeek only deals in gold ornaments and not in the other forms of gold – such as coins or bars because its partner banks only accept ornament. Further, lenders like to specialize in the kind of loan that they offer so that they can provide their customers with the maximum benefits and the best services.