Chinchpokli is a neighborhood in the southern part of Mumbai, Maharashtra. It is also the name of a railway station on the central line of the Mumbai suburban railway. The term 'Chinchpokli' is originated from two Marathi words - Chinch, which means tamarind, and Pofali, which means betel nut. The Chinchpokli Railway station was opened in 1877. Gold loan in Chinchpokli is amongst the most sought-after amongst the residents for the betterment of their future. The largest hospital in the area is the Kasturba Hospital which is run by Municipal Corporation is located in Chinchpokli West. Opposite to this hospital lies the Mumbai Central Prison, also referred to as Arthur Road Jail. It was built in 1926.
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
2) Address Proof- Documents that serve as identity proof include but are not limited to:
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!
An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.
Gold is a key player when it comes to international trade. While money value keeps fluctuating, the value of gold has never dipped below zero in its 3000-year history. Many factors determine loan interest rates. A few of them are listed below:
1) Local production and demand for gold
2) Inflationary rates
3) Government's gold reserve
4) Import and interest rates
7) Global demand for gold
Gold value is so volatile because of these several factors that affect it. To know the current gold loan rate, you can check out our gold loan calculator.
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