In Central Bangalore, Chamrajpet is the oldest locality that was founded in 1892. The locality is bordered by areas like Chickpet, Basavanagudi, Banashankari, and Majestic. This locality has emerged as a prominent location for real estate and commercial purposes due to its proximity to the Kempegowda International Airport, Kranthiveera Sangolli Rayanna Metro Station, Krishna Rajendra Market Metro Station, BMTC, and Bangalore City Railway Station. The industrial hotspot of this area is Bazar Street. Fort High School, Minto Hospital, Kote Sri Prasanna Venkateshwara Swamy Temple, and Tipu Sultan Summer Palace are some of the historical structures found in this locality. The Kannada Sahitya Parishath's headquarters is located in Chamrajpet. In order to set up their shops and homes, people often opt for a gold loan in Chamrajpet.
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.
A gold loan is the perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:
Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.
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