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Gold Loan in Vadaj

Vadaj is a prosperous area in Ahmedabad. It is located strategically off 132 Feet Ring Road and hence enjoys good connectivity with all parts of the city. Balol Nagar Road, Bhimjipura Road and Nava Wadaj Road are some of the main roads in the area. Sabarmati Railway Station and Chandlodiya Railway Station are the nearest railway stations, both of which are 3 km from Vadaj. Sardar Vallabhbhai Patel International Airport is at a 15 minute drive at a distance of about 8 km from the Vadaj. All kinds of amenities are available to residents such as healthcare centers, educational institutions, banks, gyms, hostels and shopping outlets. Gold loans in Vadaj are easily available to the residents to meet their financial needs.

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.

Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

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Frequently asked questions

What kind of repayments can I do?

Gold loans in Ahmedabad are pervasively availed because of how flexible they are. Rupeek especially strives to provide affordable solutions and offers different flexible types of gold loans repayment schemes. They are classified as follows:

1) Interest Payment: In this method of repayment, you pay a monthly interest concerning only the principal amount

2) Closure Payment: In this method of repayment, your pledged jewelry will be returned once closure payment is made

3)Part-Payment: In this method of repayment, your monthly payment is more than the interest payable per month.

Can I get an interest-free gold loan?

Rupeek strives to provide flexible, convenient, and affordable solutions for everyone. However, this does come with certain limitations. For instance, it is not possible to get a zero-interest gold loan in Ahmedabad as this is the main source of revenue for lenders. The interest paid by the borrower every month is the charge levied on the loan amount. However various gold loan companies compete in the market for the lowest interest rates. The interest rates are calculated based on various factors like loan amount, loan tenure, and most importantly the repayment capacity of the borrower which is decided depending on the debt-income ratio,
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