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Gold Loan in tondiarpet

Located in the northern part of Chennai, Tondiarpet 's commercial neighborhood is about 7.5 km from the city centre. Kunangudi Masthan Sahib, a Muslim Saint of the 17th century who used to meditate there and whom the locals used to call Thondiar, gave Tondiarpet its name. The area has its own railway station, which is a part of the Chennai Central-Gummidipoondi Branch, named Tondiarpet Railway Station. There are many processing and distribution companies in the township of Tondiarpet. Tondiarpet also has a significant number of export houses trading with jewellery and silk garments. The suburb has many shops specializing with metal ware and plastic ware. In order to meet their financial needs, traders and company organizations also use gold loans in Tondiarpet. Located near the Bay of Bengal, the place is also home to a fishing harbour.

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

* Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

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Frequently asked questions

What are the documents that I need to submit while applying for a gold loan?

One of the main benefits of a gold loan is the minimum paperwork associated with it. The only documents that the borrower has to submit before the lender to sanction their loan are their identity proof and their address proof. Any of the documents in the long list of PAN Card, Aadhaar card, voter ID, passport, driving license, etc can function as their identity proof. Except for the PAN card and the voter ID, any of the mentioned documents can also be used as their address proof. It is also possible to get a gold loan with just an Aadhaar card. On the other hand, when getting an unsecured loan, the required documents are numerous.

Can I pledge anything other than gold?

Lenders are specific about the kind of loans that they specialise in. For example, a lender that deals in online gold loans, only stick to online gold loan. Rupeek only provides the service of online gold loans and they specialise in them, offering their customers one of the best services that include low interest rates, high loan amount as well as flexible loan repayment options. In fact, Rupeek offers one of the best and the fastest-growing online gold loans in the company. Rupeek also only accepts gold collateral that is in the form of ornaments. While gold also exists as coins and bars, Rupeek only deals in gold ornaments since its partner banks only accept ornaments. 
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