A gold loan is a type of loan where borrowers pledge their gold ornaments or coins. As security to the lender to get a loan in return. It is a form of secured loan. Since it’s a loan, interest should be paid on it. And most frequently the moneylender charges interest rates higher than whatever you would find at a bank.
The impact of this is that your regularly scheduled installments to take care of your thing will be considerably more costly than assuming you had acquired the whole expense of the thing front and center. But with Rupeek, you can dodge these high interest rates. Not only that, you can take a gold loan for as little as 0.49% per month. This makes taking gold loans from Rupeek way cheaper than even established banks.
To start this blog from the very basics let us understand the process of repayment of a gold loan. When you take a gold loan you have to pledge your gold ornaments or any other form of gold assets, upfront. As soon as you complete the process of KYC and the ornament validation is completed, which hardly takes 3-4 hours with Rupeek and is served at your doorstep by company executives that follow all the COVID-19 safety protocols, the ornament is sent to the nearest locker.
During the duration of your gold loan term, rest assured that your precious gold ornaments are securely stored. Upon completing the repayment of your gold loan, you will promptly receive your beloved ornaments back unharmed.
However, if for any reason you are unable to meet the repayment terms, there will be opportunities for fine extensions. Should these extensions expire without resolution, the jewelry will be auctioned to facilitate the retrieval of the initial monetary exchange. Your assets will always be handled carefully and transparently within the terms outlined.
You can repay your loans either way i.e., as a lump sum or in equated monthly installments. With Rupeek you can further increase your repayment flexibility by choosing to pay a part of your loan amount amidst your ongoing EMIs. The Gold Loan EMI calculator is an online apparatus to ascertain month-to-month EMI on your loan. The calculator assesses the chief sum and interest sum you want to pay during the loan residency.
In order to utilize the calculator efficiently, all you have to do is input precise details along with the loan amount, interest fee (which is routinely detected and displayed through the Rupeek EMI calculator), loan time period length, and the resulting EMI amount will then be as it should be calculated for you. By providing those essential parameters, the calculator can unexpectedly procedure the necessary information, making it less complicated and a good way to decide your mortgage reimbursement information efficiently.
To use and calculate the Gold loan EMI with Rupeek’s EMI Calculator, follow the steps as referenced underneath:
During the summer, your business might experience fewer customers or hordes more visitors. This will depend on the industry you…
Full stack developers are highly sought after across industries including software, retail, healthcare, education, and financial services. Businesses of all…
Modern businesses are under growing pressure to improve asset performance, minimise downtime and reduce maintenance costs. For many, the shift…
Platforms such as UPLARN.com have appeared in the continually transforming world of online study to support the educational needs of…
In today's competitive world of the hotel business, it is important to optimize multiple distribution channels to maximize the hotel’s…
Introduction Cleaning the office is much more than beautification it will certainly contribute to the environment being healthier and more…