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Gold Loan in vellalore

Vellalore, otherwise called Vellalur, is a panchayat town situated under the Coimbatore's jurisdiction. It is located around 13 km from the core of Coimbatore city. Standing on the southern bank of the Noyyal River, the suburb of Vellalore presents an image of quietness. The organization of the area is overseen by a Town Panchayat. Although the underlying idea was to incorporate Vellalore in the Coimbatore Corporation for managerial purposes, the arrangement was eventually dropped off. According to studies from 2001, the pace of education in this rural area is 64%. gold loans in Vellalore are the most well-known form of credit.

What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.

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.

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Frequently asked questions

How do I repay the gold loan?

Gold loan repayment options vary for different companies where some can be paid at the end of the loan tenure, while some require you to pay as EMIs. Rupeek offers various repayment options and the borrower is free to pick whichever option is best suited for them. The gold loan in Coimbatore can be repaid through cash, cheque, DD, or card. Gold loan repayment is made easy with Rupeek’s online gold loan payment portal and app. Simply login with an OTP sent to your registered mobile number and view your profile to view and complete gold loan repayments.

Is there any maximum and minimum limit for availing gold loan?

The minimum amount to avail a gold loan with Rupeek is Rs. 15,000, and the maximum loan amount that can be sanctioned is Rs. 1.5 Crores. Gold loans are the perfect source of funds for you if you are looking for high-value loans with low interest rates, as long as you have the collateral. The amount of loan amount that you are eligible for depends on the value of the gold you have pledged with the lender. When you take a gold loan, you can get funds equivalent to 75% of the market value of the pledged gold. It can also go up to 90% in some cases.
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