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Gold Loan in bannerghatta

The Bannerghatta area is nearby to nature and any person can get into the powerhouse like Bangalore. Many zoos, national parks, animal centers for rescue, sanctuaries, aquariums, etc. are covered all over the area and thus make the dream place for every nature lover in Bangalore. People from all over the world come here to see the wildlife and the domestic animals and also try for safari rides. The main reason for the generation of revenue here is the tourism here that attracts most of the people and fulfill the needs of their own. Tourists also experience trekking, camping, hiking, etc. here and enjoy it. This area also has many temples where people go to pray with their faith. In this area, there are mainly six villages and as it has a high cost of living. People here need gold loan in Bannerghatta for their survival and a better life.

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

* Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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Frequently asked questions

Can I increase my loan amount after taking the loan?

Rupeek strives to provide flexible, convenient, affordable solutions for anybody that needs it. On the note, Rupeek provides the flexibility to increase your loan amount if you wish to, provided the collateral you have pledged meets the corresponding requirement, that is, the gold you have pledged needs to be about 33% higher than the total loan amount that you are looking to avail. You can always increase your loan amount while availing a gold loan in Bangalore with Rupeek, wherein depending on the market gold gram rate, Rupeek will transfer the surplus loan amount to your account. 

How are gold loans different from other loans like personal or credit card loan?

As far as urgent funds or emergency loans are concerned, as long as you have the collateral, a gold loan is your best bet. This is because gold loans offer the maximum benefits to the borrowers. The security of the asset that has been pledged with the lender enables the lender to offer many benefits to the borrowers. Since a personal loan or a credit card loan is an unsecured loan, as many benefits are not available to those borrowers. A secured loan has a lower interest rate. They also require much more paperwork than a collateral-bases loan. Further, the borrower will also be expected to have a high credit score – over 700 to get a favorable loan. 
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