Churchgate is a bustling locality in the southern part of Mumbai. The area was once a significant entry point to the walled city of Mumbai which received its name from the St. Thomas Cathedra. The locality is full of tourist spots and other must-see locations. It is known to be one of the 'toniest' localities of the City. This neighborhood is flooded with several historically important areas as well as touristy spots such as the Flora Fountain, Bombay High Court, Marine Drive Promenade, Cricket Club of India, and the National Centre for Performing Arts building. Managing business and financial expenses with the help of gold loans in Churchgate is a common practice among residents. This part of the city has some of the most expensive, and top-notch hotels in India, including the Oberoi Hotel, Trident Hotel, and Intercontinental hotel, where many tourists decide to stay as they explore the city.
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.
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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