Dadar is a first planned area of Mumbai, Maharashtra. It is an upscale residential area which is densely populated. This locality is also a hub for the Marathi culture, which gradually replaced the native East Indian one, in Mumbai. Dadar west market is known as one of the best shopping destinations as many luxurious brands are present here. People often apply for gold loan in Dadar to buy luxury goods and everyday essentials or meet their financial requirements. The prominent places of interest in the area are Shivaji Park, Swatantrayaveer Savarkar Smarak Auditorium, Five Gardens, Veer Baji Prabhu Udyan, Veer Kotwal Udyan, and Vaidya Udyan. This locality is also a prominent railway and bus service hub with local and national connectivity. Dadar has growing importance in the current scenario because of its railway routes. This neighborhood has long been a cultural center for the native East Indians and Marathi speaking immigrants from the rest of Maharashtra.
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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