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Gold Loan in chikkabanavara

Chikkabanavara is home to one of the hugest water bodies in Bangalore, the Chikkabanavara Lake. This area falls under the Dasarahalli jurisdiction and the Bangalore North parliamentary body electorate. The closest railroad station is Chikka Banavara Junction, and the Kempegowda International Airport is around 37kms away. One of the most arterial roads in this region are the Hesarghatta Main Road, which ensures connectivity to different parts of Bangalore. The BMTC forms a seamless network of transportation to areas such as KR Market, Majestic, Kengeri, KR Puram, Peenya, Jalahalli, Vijaynagar. The significant clinics in that can be found in this area are Sapthagiri Hospital, N P R Hospital,Sri Maruthi Nilaya, and Chikkabanavara Government Primary Healthcare Center. Citizens turn to gold loans in Chikkabanavara, as it is the most effortless approach to get quick cash.

What is an online gold loan?

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:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

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.

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

* Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

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Frequently asked questions

Can I get immediate cash with gold loan?

With Rupeek, of course, you can! As opposed to other loans like personal loans, housing loans, or auto loans, a gold loan in Bangalore is one of the most convenient types of loans because of how short the loan processing time is. If you are looking to borrow a loan rendering immediate cash then applying for an online gold loan in Bangalore is probably the best option you could avail in the loan market. The most immediate loan you could ever avail is gold loans. On the lender's website, you can fill out the application form, post which gold loan process will be initiated on the lender's end by checking your credit score, KYC procedure and the money will be credited in your bank account almost instantly. 

Can my gold loan be written off?

Written off' is a term used in the CIBIL credit scorecard which means that one has not repaid the loan amount borrowed over 180 days and the lender has to do away with the outstanding amount to be repaid. This can reflect badly on your credit scorecard and prevent further granting of loans. However in the case of gold loan, the lender/financial institution has the right to auction off your gold ornaments if the borrower is unable to repay three consequetive times or more during the loan tenure. Though the value of used gold is lower in the market, the lender settles the losses incurred for granting loan to that customer with the auctioned money.
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