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Erode
bhavani
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Erode
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in bhavani

Bhavani is a major commercial town in the Erode District of Tamil Nadu, popularly known as the 'Carpet City'. The area falls under the constituency of the Bhavani Assembly and the parliamentary constituency of Tiruppur. It's well-known for its carpet industry. Businesspeople also use gold loans in Bhavani to set up a company in Bhavani. Erode Junction is the closest railway station.Some of the most prominent temples in the region are the Sangameswarar Temple, Munniyappan Temple, and Sri Kombu Muniappa Swami Temple. Adharsh Vidhyalaya College of Education, Aishwarya Polytechnic College, Best College of Education, Bhavani Polytechnic College, Adharsh Vidyalaya College of Arts and Science for Women, and Adharsh Vidhyalaya Higher Secondary School are the most prominent educational institutions in the area.
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We offer the highest per gram rate on our gold loans.

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Gold Loans at the privacy of your home

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Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

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Frequently asked questions

Why should I take a gold loan with my jewellery?

If you are in the lookout to have your short term goals financed, you can always use your gold jewelry that you aren't actively using and exchange it for cash. Once you have repaid your loan, you can reclaim your loan as it was. As gold loans in cityname are good in a rising market, a lender offering good LTV will get you the most out of your gold jewelry. If the expected appreciation in value is greater than the cost of the loan, it is better to take a loan bearing in mind to keep it short-term and being able to repay the principal. Gold loans in <cityname> are the go-to option if you require emergency funds.

Is part withdrawal of gold Jewellery allowed post part closure of gold loan?

No you cannot withdraw your pledged gold ornaments with a part payment as most lenders do not allow it due to chances of fraudulence. The gold pledged is like a surity for the lender that assures your repayment of borrowed loan amount. However making part payments of both principal and interest is allowed. Only when the entire principal and interest amount is repaid and the gold loan in cityname is deemed close, the loan manager will hand over the pledged gold ornaments to you and obtain an acknowledgement from you.
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