Just opposite to the oldest multidisciplinary university in South Asia, the Calcutta University, is spread College Square, a human-made lake. The Presidency University, another reputed university also stands tall beside the Calcutta University. It is on College Street, which is one of the most famous streets in Kolkata that College Square is located. Multiple educational institutions and bookstores are lined on both sides of the street. College Square are the Medical College and Hospital, Sanskrit College and University, Indian Institute of Social Welfare and Business Management, Hare School, and Hindu School are the most popular educational institutions among them. The Indian Coffee House, which since its commencement, has been a favorite joint for the intellectuals of the city is also situated near the Square. The most availed source of loan is a gold loan in College Square.
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.
As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.
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