close btn

Service Update- (Covid-19)

In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

Gold Loan in uttur

Uttur is a village located in Maharashtra's kolhapur district. It is a member of tehsil ajara. Uttur is situated about 18 km from ajara, the headquarters of the sub-district. The kolhapur district headquarters is situated about 68 km from the village. The village's central governing body is a panchayat in gram. Uttur extends over an area of 1486 hectares. The nearest town is gadhinglaj, which is about 12 km from the village. In uttur people also make use of gold loans to prevail over their financial constraints. Every saturday, the weekly market takes place in uttur. It brings in many customers from the surrounding areas who come to the market to purchase or sell different goods.

What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

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.

Rupeek ad

Gold Loan Calculator

Frequently asked questions

Who can avail Rupeek gold loan?

A gold loan is one of the most flexible sources of funds. That is to say that the borrower doesn’t have to fulfill many criteria to be eligible for the online gold loan. Unlike other unsecured sources of funds, such as a personal loan, the borrower isn’t required to have a stable source of income or a high credit score. The security of the pledged asset opens up several doors of benefits for the borrower. 

The only eligibility criteria that the borrower has to fulfill are listed as follows:

  1. The borrower has to be above 18 years old to qualify for the loan. Usually, minors are not allowed to acquire loans in their name.
  2. The gold that is to be pledged has to be equal to or above 18 karat gold. 18 karat gold is the cheapest and the least pure form of gold that can be pledged before the lender. 
  3. The pledged gold has to be in the form of ornaments or jewelry. Gold, depending on its purity, exists in different forms. The only form of it that can be submitted before the lender is ornaments. 

What is gold loan renewal and how is it done?

Most of the schemes of gold loans in Kolhapur are of short tenure, generally ranging from anywhere between 3 to 6 to 12 months. Some lenders give the customers the option of extending the loan tenure through gold loan renewal if they are in need of fresh funds. However, renewal fees may be charged by some lenders. A borrower usually opts for a renewal of their gold loan in Kolhapur when they are still in need of funds. By opting for a second loan from the same lender by repledging the same gold ornaments, the borrower can meet the emergency fund requirement.
Rupeek ad
gold img
Apply for Gold Loan 30 Minutes Doorstep Service
close
+91
Please enter valid Mobile Number
close
success img

Loan Request Successful

Your request has been received, our customer relationship manager has been notified and will call you shortly