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

Gold Loan in velacheri

In southern Chennai, Velachery is a major residential cum commercial location. Thanks to the growth of the IT sector in this part of the region, the area has undergone rapid development over the last decade. Velachery functions as a strategic hub that links the Old Mahabalipuram Road (OMR) IT Corridor with the Central Business District and the GST Road. In the vicinity of the neighbourhood, many technology parks are situated, including the Olympia Technology Park, Ascendas IT Park, SP Infocity, Ramanujan IT Area, Prince InfoCity, etc. All of these factors serve as significant incentives for both investors and end-users, who often use gold loans in Velachari to invest in this area.

Gold Loans at the privacy of your home

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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.

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!

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Frequently asked questions

Is my gold safe with Rupeek?

Rupeek’s procedure has been certified by ISO 9011:2015. They have transacted over 25,000 plus loans with the utmost care and safety. Safety and security are top among the primary concerns of Rupeek. They ensure that the asset entrusted with them by the borrowers are put in the utmost safety. For this, they have partnered with some of the most reputed banks across India, such as Karur Vysya Bank, Federal Bank, and ICICI Bank. The ornaments that the borrowers present as collateral are sealed in bags that are GPS sealed while being transported. Safe transportation is ensured by Brinks, the security partner. They are an internationally trusted security service. Upon arrival at the bank branches, they are stores in bank lockers that are guarded round the clock and are monitored by surveillance. From the moment the asset is transferred into the hands of Rupeek, they are 100% insured with New India Assurance. The personal details of the borrowers are also protected using end-to-end encryption. 

Are there any charges levied for late payment of interest?

Yes, lenders usually charge a penalty fee on failure of repayment of the gold loan in Chennai. This charge will be added to the next monthly payment. On failure of repayment of the next payment as well, the lender will be forced to hand over the matter to the respective loan managers. They are likely to be harsh with the borrowers to make sure that the repayments are done on time. In order to avoid any such circumstances in the future, the borrower has to take care not to miss out on payments or delay the payments. The EMI payment has to be a priority of the borrower.

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