Balesar is one of the 10 blocks in the Jodhpur district. There are around 271 villages in this block and about 400 families. The village is located at a distance of 65 kilometers from Jodhpur, in the rural area of Rajasthan and there is no train service. Taking the road is the only way to reach the village. The saddest part of the village is an incredibly high illiteracy rate, with an illiteracy rate of 38% for men and 68% for women. Most residents of the village unemployed due to the high illiteracy rate. The people employed are totally dependent on agriculture. Anyone who needs financial assistance apply for gold loans in Balesar.
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.
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.
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