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Gold Loan in Vasant Nagar

Vasant nagar is an place in the indian state of Maharashtra, in nagpur. Nagpur's majumdar cricket club is situated in this city, offering cricket training for those interested in a career in crickets. Thanks to the availability of gold loans in vasant nagar, the fees for this club do not give the parents any trouble. This loans simply take all the pressure away. In this field is located the national institute of environmental engineering science (neeri). Neeri's guest house is situated in this location too. Nagpur's central jail is only a stone's throw from vasant nagar. This region has health department deputy director's office. In this field lies dr. babasaheb ambedkar samajik nyay bhavan. This area also includes plenty of mandirs and masjids, making this area very famous.

Eligibility criteria for an online gold loan

As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-

1) Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.

2) You must be an independent major, that is of the age 18 or above

3) Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.

4) The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)

It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days. 

Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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Frequently asked questions

Does gold loan affect CIBIL?

All gold loan lenders do not consider the credit score before sanctioning a loan. Some lenders take into consideration the CIBIL score. Rupeek does not require the CIBIL score of the borrower before giving the loan approval. In that case, your CIBIL score is of no concern when you obtain a loan from Rupeek. But on the other hand, what can affect your CIBIL score is your repayment of the loan. If you have made all the repayment of the gold loan in Nagpur on time, your CIBIL score will take a boost. On the other hand, if your repayment has been poor, your CIBIL score will be adversely affected. This will, in turn, affect your eligibility of loans in the future.

Can I take more than one loan at a time?

At Rupeek, it is possible to take more than one loan at a time! It is noteworthy that if you are looking to avail secured loans, the loan amount you are eligible for depends entirely on the value of the collateral. Since according to the norms set by the industry, the borrower can get up to 75% of the market value of the pledged gold as gold loan in Nagpur. As long as your collateral is of a corresponding value, the minimum amount you are eligible to receive is INR 15,000 and the maximum amount is INR 1.5 Crores. 

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