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

Gold Loan in vadipatti

Vadipatti is a established panchayat town, located in Madurai district of Tamil Nadu. It is about 28 km from Madurai town centre. The town enjoys fast connectivity via the Salem-Madurai road with Madurai. Among the town's other major roads are Vadipatti main road and Semmanipatti road, which enhance its connectivity. Vadipatti railway station and Vadipatti bus stand serve the town. Vadipatti residents enjoy a decent standard of life as the neighborhood has all sorts of civic facilities like hospitals, courts, banks, atms, schools, worship sites, etc. even the town is lined with many business facilities, such as restaurants, shopping marts, bakeries, convenience stores, and others.Locals frequently apply for gold loans in Vadipatti to meet their immediate financial needs. One of the town's major festivals is Erudhukattu vizha or bull fight.

Gold Loans at the privacy of your home

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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

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

KYC, abbreviated as Know Your Customer is a customer background check process carried out by the lender while initiating a gold loan request. The lenders need some mandatory documentation to disburse a gold loan amount for the borrower in case of any fraudulence or arrear in payment. Most of the lenders for quite a while were accepting driving license, voters ID, pan card as KYC documents. But due to stricter RBI regulations after reports of people faking these documents, most lenders now require Aadhar card of the customers to avail a gold loan as it has a retina scan, fingerprint and are essentially foolproof.

Can I get immediate cash with gold loan?

Yes, you can get immediate cash with a gold loan in Madurai with the help of Rupeek. One of the most attractive features of all online gold loans in Madurai, including Rupeek is that the gold loans can be obtained instantly. Within minutes from the approval of your loan, the loan amount will get disbursed into your account. If you are looking for immediate funds or emergency loans, then applying for a gold loan in Madurai is your best bet. The security associated with a collateral-based loan such as a gold loan allows the lender to provide the borrowers with many benefits. The whole process when acquiring an online gold loan in Madurai, from the loan application to the disbursal of the amount, does not take more than an hour. 
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