Gold trimmings are not just a piece of adornments. They are a type of reinforcement that has the ability to safeguard you from monetarily difficult stretches. One of the speediest and least demanding routes through which your gold trimmings can help you is assuming you profit a loan against them. Loans profited by vowing your gold adornments with a bank are called Gold Loans. This is a type of secured loan i.e., a loan that is backed by some physical indemnification or collateral. Such loans are highly affordable in terms of the rate of interest and mental pressure of repayment. Because in any case if you fail to repay the loan, the bank or other private body has collateral to sell off and recover from your losses, so it will not trouble you in any way. Gold loans are way too easy to get these days. You can apply and get an online gold loan with Rupeek within an hour. The process is quite simple for anyone to follow and we will be discussing it in detail in upcoming sections of the blog. So, help us spread the word about this by sharing the blog among your family and friends.
What are the eligibility criteria to get a gold loan?
There are no particular gold loans qualification models to fulfill to get a gold loan. Anybody can apply for a gold loan with Rupeek, as long as the individual looking for loan claims the gold. The endorsing gold loan is controlled by the worth of gold the borrower submits. You can get a gold loan in the event that you meet the accompanying measures:
Our knowledgeable advisors will help you choose the best loan option. We will go over your small business loans bad credit and devise a plan to build together!
- The individual ought to be over the age of 18 years.
- The owner should himself claim the gold loan and should be physically present during the KYC.
What are the documents required to apply for a gold loan?
Not at all like different loans where documentation is a significant piece of the cycle, gold loan records needed to be submitted are just the fundamental KYC like:
- Two passport-sized photographs.
- A duplicate of character verification reports, for example, your visa, driving permit, Aadhar Card, apportion card, etc.
- A copy of address confirmation archives, for example, your power charge, phone charge, another service bill, and so forth
And this is the part that reduces the processing time of gold loans. The NBFCs like Rupeek understand the fact that it is not possible to preserve the original bill of purchase of the ornaments for a long time by anyone, so even if you don’t have a receipt for the jewelry you can qualify for the gold loan.
How to apply for a gold loan online with Rupeek?
The process of applying for a gold loan is quite simple and straightforward with Rupeek. All you need to do is to follow the steps explained below
Step 1: Do your own calculations if you want. Visit the official website of rupeek.com and use its Gold Loan calculator to pre-calculate your monthly EMI, rate of interest, or the tenure of the loan if you want to. This will help you plan your repayment journey with complete clarity.
Step 2: Apply for the gold loan right from their website or app by registering yourself on the portal. Alternatively, you can also call their customer care services to book a slot for yourself.
Step 3: As soon as the slot is booked, one of the customer executives will get in touch with you and visit your home within an hour, for the KYC and quality check.
Step 4: After a small KYC and quality check of the ornaments, the loan amount will be transferred to your account, and the gold will be collected and locked in the nearest security vault.
Step 5: Last steps include taking your gold loan card and repayment report that you need to follow to repay your loan from the available flexible repayment options.