Begunia is a bocktown located in odisha district of khordha. Some popular tourism attractions in the city are bhubaneswar, chilika bay, cuttack and nandan kanan national park. Every year chilika lake draws thousands of visitors. It is a lagoon of water spread over 1100km, and is a unesco world heritage site. It is the main wintering ground for migratory birds, and is considered to support a variety of endangered species. It provides broad sources of fishery, and several villages are located on its shores. Locals depend on it for their survival. It has a large catholic minority, too. The town's inhabitants are primarily interested in fishing and other small enterprises, and are taking gold loans to support them in begunia.
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.
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.
As per the regulations of Rupeek, only gold ornaments can be pledged as the collateral with the lender. Gold ornaments are usually between 18 karat and 22 karat. Purer forms of gold , that are between 22 karat and 24 karat exists in the form of coins or bars. Although there are lenders that accept gold coins and gold bars for gold loans in Bhubaneswar, most lenders only accept gold ornaments. The gold ornaments that can be pledged with Rupeek include the following:
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