Chakan is a completely industrial area that is located in the western suburbs of Pune adjacent to the Expressway of Nashik Pune. For all the employees out there who are seeking job opportunities, Chakan has become pretty famous due to a huge growth in commercial as well as industrial sectors. Several small and large-scale industries like Mercedez-Benz, Volkswagen, and others are hosted in Chakan. The residential sector is experiencing the same amount of growth due to a boom in the industrial sector. People from other cities looking for jobs, often find Chakan a perfect place for themselves. Employees from different parts of the world consider moving to Chakan for getting an opportunity in an eminent corporation in Chakan. There could be any moment when somebody requires instant cash. Whether it is an outsider or a local person of Chakan, a gold loan in Chakan could be very helpful to get them some money effortlessly.
As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-
1) Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.
2) You must be an independent major, that is of the age 18 or above
3) Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.
4) The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)
It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days.
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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