Towards the south of Bangalore, Bannerghatta Road is situated that stretches a length of 49 km. It begins from Adugodi Christian Cemetery and ends at Anekal. It is a major road in entire Bangalore with enhanced connectivity. There are several supermarkets, hotels, restaurants, and pharmacies like Fortis and Apollo that have been located on the Bannerghatta Road. Near Bannerghatta Road, there is an Industrial Area of Jigani, which holds some prime companies like Federal-Mogul Goetze Magnum, Kirloskar Toyota, Robert Bosch Engineering, Mahindra & Mahindra, etc. It is also a home of major tech parks like IBC Knowledge Park, Divyashree Tech Park, and Kalyani Magnum. It is an excellent locality for starting a small-scale business. Still, it would be a bit costly in the area of Bannerghatta Road. Due to this reason, several people opt for a gold loan in Bannerghatta Road for balancing their income and expenses.
An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.
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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