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Gold Loan in vastral

Vastral is the posh town of Ahmedabad, about 13 km from the center of the district. The town enjoys seamless connectivity, served by the Baroda Expressway and SP Ring Road. It is possible to reach Vastral via different transport modes, including buses and metro railways. The closest transport hubs to enter the neighborhood are Vastral Gam Metro station (550 m), Nirant Cross Road metro station (1.4 km), Mani Nagar railway station (7 km) and Sardar Vallabhbhai Patel International Airport (19.5 km). A strong mix of housing communities, educational establishments, hospitals, markets, and other social infrastructure is accessible in the area. Not far from the community, job hubs such as GIDC VATWA in Phase 4 are situated. Any of the area's employment-generating sectors are metalworks, rolling mills, pharma, packaging, and chemicals. People have the choice of using gold loans in Vastral to expand their business.

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.

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. 

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Frequently asked questions

Can I take more than one loan at a time?

Yes, it is possible to take more than one loan at a time. The loan amount that you get in the case of a secured loan depends on your collateral. If you have more collateral that can be pledged with the lender, it is possible to get more amount. As long as you have the collateral, you can obtain the funds. 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 Ahmedabad

Is there a possibility of damage to the ornaments at the time of appraising?

In a country like India, people tend to have a sentimental attachment to their gold. This is because gold gets handed down from generation to generation in the form of ancestral property. For this reason, it is hard to let go of a piece of jewelry, fearing some damage. The borrower might be worried that their property might be stolen/ misplaced or mishandled. At Rupeek, we fully understand how valuable your gold ornaments can be to you. We make sure that your ornaments are dealt with caution and care. The evaluation of your gold will happen right before your eyes, bearing you as a witness to the treatment that the ornaments get. From the moment that your gold gets transferred into the hands of Rupeek, they are 100% insured. 
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