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

Gold Loan in turangi

Turangi is a town area located in kakinada (rural) district of east godavari in andhra pradesh. This town's inhabitants are mostly dependent on the farming and cottage industries. This place is renowned for wholesalers and small markets that trade widely in fabric, handloom, household goods, plastic utensils and artificial jewellery. Literacy rates are low, and there are fewer educational institutes. gold loan in turangi, providing citizens with immediate assistance in fulfilling their educational aspirations and in developing their current or new enterprises. This further assists in the development of capital thereby improving the city and state economies.

Gold Loans at the privacy of your home

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Documents required for an online gold loan

A gold loan is the perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:

  1. Identity proof – any document such as voter ID, PAN Card, Aadhaar Card, Passport, or driving license can act as the identity proof of the borrower.
  2. Address proof – the same documents as mentioned above, except for voter ID and PAN card can act as the address proof of the borrower.

Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.

What is an online gold loan?

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

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Frequently asked questions

Are all gold items accepted?

Gold loans are those loans that are availed by securing it against gold. These gold loans are very simple to avail and have several benefits, the most important of them all being the range of flexibility offered by lenders. When it comes to gold loans, most lenders accept gold in any form, as only the purity and quality of your gold matters. Rupeek currently only accepts jewelry and ornaments. Gold bars and coins are not accepted by lenders. Our lending partners only accept gold jewelry of 18 carats and above, which is subject to valuation reports for any loan on gold. 

What is KYC? Why is it necessary to avail gold loan?

Know Your Customer, fondly known as KYC is a customer identification process that is carried out by the lender while initiating a request for a gold loan. The lenders require some documentation/proof to avail the customer a gold loan amount in case of any fraudulence or payment default. Most of the lenders for a long time were accepting the driving license, voters ID, pan card as KYC documents, but due to stricter RBI regulations in the aftermath of borrowers faking these documents most lenders now require Aadhar card of the customers to avail a gold loan as it has retina scan, fingerprint and these cannot be fabricated.
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