Located close to the popular Siddhi Vinayak temple which attracts millions of devotees every year, Ameerpet serves as the residential hub of Hyderabad. It houses one of the best business schools in the state, the reputed Priyadarshini College of Business. The locality is also well- known in the neighboring localities for its lodging facilities, fine hostels, dining facilities for students, many restaurants and of course, tech companies. People in this locality not only closely track and understand the functioning of their local economy, they also monitor gold rates and avail gold loans in Ameerpet to invest in the yellow metal. It is often used as collateral since the rent prices at this area, spikes every year.
An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!
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.
All kinds of loan repayment options can be done and completed online. No matter what type of repayment of the gold loan in Hyderabad it is that the lender wants to complete, it can be done online. The repayment option that the lender is resorting to complete online can include:
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