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Gold Loan in tripunithura

Tripunithura, formerly known as the residence of the royal families, is the site of ancient palaces. The Hill Palace Museum is an active heritage spot in the cultural centre of the city. Tripunithura is still known for the artistic ideals that have given way to the emergence of institutions that concentrate on the teaching of classical arts in different ways, such as martial arts, etc.Thus, in the locality, a large population of artisans thrives. The swarming small-scale industries are also benefiting from the gold loans in Tripunithura. The economy here is certainly flourishing with time.

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.

What is an online gold loan?

Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.

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Frequently asked questions

Do I need to update the bank in the event of a change in address due to relocation or any other reason?

As a borrower, you are required to submit address and identity proof before being eligible to avail the loan. This is primarily to ascertain your nationality, as well as to keep track of your whereabouts in case necessary. Hence, if you happen to shift your place of residence during the tenure of your loan, you are required to promptly inform your Rupeek executive in-charge. If necessary, your loan manager will schedule a visit and visit you at your new address. If not, your new address will simply be updated in our records provide you submit a proof of address online. 

How will gold rate affect my gold loan amount

The gold rate of that day isnt the only factor that decides the gold loan amount. The value of collateral pledged is ascertained upon the gold gram rate as per the past 30 days. If the gold rate rises, then the collateral value of loans given to the borrowers goes up and they can demand a higher amount of loan against their gold. But at the same time if the gold price corrects drastically during the loan tenure then some of the lenders may ask you to pledge more collateral or pay the difference margin in cash.
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