Everything that person wants to do something, and it requires the arrangement of funds. There might be cases when the person does not have enough of the savings that can fulfill the requirement. In such cases, taking the help of loan facilities from financial institutions is a great help. There are different types of loans available in the market like personal loan, gold loan, house loan, vehicle loan, etc.,and out of all of them, gold loan has gained a lot of popularity amount people.
Introduction to Gold Loan
A gold loan is a type of loan that is given against the gold ornaments or coins kept as the collateral with the lender. If any person is interested in getting the gold loan in Jaipur, it will be great for them to contact the nearby institutions that avail all such facilities. With time, the gold loan facility has improvised so much that they have become one of the leading ways to raise funds. There can be any situation like the expansion of business, going abroad for study, medical emergency, or any personal reason where the requirement of funds becomes necessary. In all such cases, getting the help of gold loan services will be a great and convenient option.
Certain Myths and Facts Related to Gold Loan
Different people have different perspectives related to the gold loan. Some of the myths and facts are stated below:
- Certain people believe that a gold loan is the type of loan that is offered only by jewellers. Although this was a fact in an earlier time, now things have become quite advanced. Many financial and non-financial institutions are the leading gold loan company in Jaipur. There is a myth that the gold kept as the collateral security is replaced by the fake jewels when they are returned to the person. This is completely a myth, but to take extra precautions, it is always better to get a gold loan from a highly reputable company that will keep your gold items safe.
- There’s a myth that gold loan has a loan process. But in reality, there is nothing like this. The person who wants to get a loan can apply for it through an online platform. The gold loan is accompanied by quick processing as certain KYC documents need to be provided to complete the process.
Eligibility Criteria for Gold Loan
- Any person who is a resident of India and falls in the age group of 18 to 70 years can easily apply for a gold loan. If the person who wants to apply for a gold loan is above the age of 70 years, there is a requirement of a co-borrower.
- The gold that needs to be kept as the collateral security for a loan should be a minimum of the purity of 18 karats. The maximum gold purity can go up to 22 to 24 karat. The gold loan amount will depend upon the gold value that is kept as the collateral security.
- Although the process of gold is not very lengthy, there is still a requirement of certain documents that need to be submitted while getting the gold loan. For this, the person needs to deposit ID proof and address proof according to KYC guidelines. Along with this, 2 passport-sized photographs are required that will be placed on the application form.
The online processing of the gold loan has made the overall processing of gold loans much easier than before. Now the person can easily check the current interest rates provided by different institutions on gold loans. Even the repayment guidelines can be checked before applying for a gold loan.
Ruptok- The Best Platform for Gold Loan
If you are looking for the best gold loan services, then you should contact Ruptok, one of the leading platforms that are availing the excellent services related to the gold loan. Even we are here to provide the gold loan service at your doorstep. We have all the technological and logistical advancements that have made us the fastest to avail of the services in the industry. You can easily get a loan against gold in Jaipur from Ruptok. Our team is making every possible effort to build a sound relationship with the customers. All the queries related to gold loans and their processes are resolved by our experienced team in just no time. You can trust us for the best gold loan services of all time.