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

Gold Loan in yakutpura

Yakutpura lies in hyderabad's old district. Yakut means the precious gemstone ruby, in the persian language. The hyderabad nizam called the area yakutpura because it was a precious part of his kingdom. Yakutpura lies about 2 km away from the historic mecca masjid and the popular charminar. It is one of hyderabad's main localities in the old city. The region offers convenient access to the laad bazar, one of hyderabad's oldest and most popular shopping destinations. Located within 2 km of the locality are popular tourist attractions such as the salar jung museum and the nizam museum. In yakutpura residents frequently depend on gold loans to fulfill their financial needs. The city is home to the islamia women's graduation college and the yakut mahal deluxe, one of hyderabad's oldest movie theatres.

Gold Loans at the privacy of your home

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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

The benefits a borrower can reap from an online gold loan are boundless! All you need to do to avail an online gold loan is download the lender's app and place a loan request. One of the best features of a gold loan is that this process can be done online entirely without manual intervention provided that is what the borrower prefers. The borrower also has the flexibility to place a call on the lender's customer care number to avail the same if he/she were to feel like they might need assistance with the process. All this happens right from the comforts of your home. Even when it comes to gold valuation, you do not need to venture out with expensive gold in your pocket! The lender assigns a representative that will visit you at a location and time as stipulated by you. While an online gold loan does require a few basic documents, you can also avail a loan with just your Aadhar card! As a borrower, you are eligible to receive up to 75% of the gold you are pledging. If both parties are in agreement with the loan amount, the loan is disbursed to your account within a matter of 10 minutes. What's more, the entire process takes only an hour end-end!

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Frequently asked questions

Is part withdrawal of gold Jewellery allowed post part closure of gold loan?

No, it is not possible to withdraw the gold ornaments that you have pledged after part payment. The gold that you have pledged with the lender is what acts as a security. It is the collateral that guarantees the repayment of the gold loan in Hyderabad by the borrower. It is also this collateral that enables the lender to provide the borrower with various benefits, such as flexibility and lower interest rates. Although part payments are an option for the borrower, the gold ornaments can only be withdrawn after the entire loan amount, which is comprised of both the principal amount and the interest amount have been repaid. It is only after the close of the loan account and after the entire debt has been cleared that the lender will release the gold collateral of the borrower.

How is KYC done at home for online gold loan?

KYC documents are documents that prove the borrower’s identity and address. It can be the borrower’s Aadhaar card, PAN card, voter ID, driving license, or passport. These are the only two documents that a secured loan demands from its borrowers. When the representative from the company arrives at your doorstep to verify your documents and your gold, your documents will have to be uploaded to check its validity. The official will take pictures of the documents and upload them to the company’s system. Within minutes, the documents will be verified and the process will be completed.
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