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Gold Loan in baranagar

An upmarket residential area to the north of Kolkata, the Indian Statistical Institute (ISI) is located in Baranagar. On one side, Baranagar is surrounded by Dunlop, Belgharia, Dakshineshwar, and Sinthee More on one side and on the other side, flow the River Ganges. The place is well connected, thanks to Dumdum, the nearest railway station, and Noapara, the nearest metro station. Located in the middle of Barrackpore and Esplanade, Baranagar is situated on BT Road. Some of the best-known schools in the area include Calcutta Public School, Baranagar Ramkrishna Mission Ashrama High School, and Central Modern School. Within a range of 10-15kms from Baranagar, the major employment hubs of Kolkata City are located. This makes it a demanded area for residential apartments. To be able to meet their urgent financial needs, the residents procure gold loans in Baranagar.

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.

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Frequently asked questions

My payment has failed, what do I do?

Since all the transactions take place online, in the case of an online gold loan in Kolkata, it is possible that due to some error, the transaction may fail. If this should happen to you, rest assured since within 72 hours from when the amount was debited from your account, it will be credited back to you. This is what the guidelines of the bank state. In case it doesn’t refund within that duration, make sure to get in touch with your bank. If you attempted to make the transaction via NEFT, it will take longer to get refunded to your account. If you still need help with the transaction error, you can always get guidance and help from the support team of the lender.

Do I need to update the bank in the event of a change in address due to relocation or any other reason?

Yes, it is mandatory for you to inform the lender in the event of you shifting your house or changing your location after the loan has been placed. This is important, since your identity proof is one of the only two mandatory documents you have to submit before you are sanctioned a gold loan in Kolkata. Besides, since your loan is online, it is an official from the company who will come to your address for further requirements, such as the closing of the loan. The representative from the company may even come to your new address soon after you notify them for security reasons. 
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