Borgaon is a small town in Maharashtra district of akola, and is situated between murtizapur and akola on national highway 6. It's a smart idea to opt for an gold loan in borgaon, since this town is rich in temples, farmland, small and large factories, utilities and more. The digambar jain temple is situated in the middle of the district, drawing devotees from the 23rd tirthankar lord neminath and other bhagwan idols with ancient idols. The fascinating borgaon dam, which is an earth-filled dam constructed on a local river near yavatmal, is another highlight of this district.
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.
Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:
Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.
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