Asaripallam is a city that falls under the kanyakumari district nagercoil municipality in Tamil Nadu, Indian state. Tamil is the official language of this region. This town is on the list of kanyakumari's most educated cities, with an 82% literacy rate. Here the males have a literacy rate of 51% and the other 49% are the females. In this area, the kanyakumari government medical college was established. People here are educating themselves by getting inducted into good colleges without caring about money due to gold loan facilities in asaripallam. The town lies about 24 kilometers from kanyakumari beach. The town has numerous sports of action that visitors enjoy when visiting this town there.
Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:
Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.
Since a gold loan is a secured loan, it offers many benefits that the other sources of funds do not offer. Some of the benefits offered by a gold loan include:
The requirement for eligibility for a gold loan isn’t much. To avail a gold loan, the borrower has to fulfill the below-mentioned criteria:
The loan amount is then calculated by the lender by multiplying the quality, purity, and weight of the gold. The lender then multiplies it with the average price of gold for the past thirty days. The resultant amount id the loan amount that the borrower can borrow.
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