In the north-eastern portion of Bangalore, a locality named Devanahalli is situated approximately 40 km from the city centre. It is considered to be a new home for the Kempegowda International Airport. The area would be experiencing a huge amount of change coming up in near future as a multibillion-dollar Devanahalli business park as there would be two IT Parks being set up near the Airport. Other than that, a $140 million Financial Park, Science Park, and an Aerospace Park are also going to come up in the vicinity. Plenty of people are attracted towards Devanahalli due to several new employment openings and infrastructures coming up. Various retail shops and small businesses are emerging too. In this developing region, people will need a handsome amount of money for satisfying their personal as well as business needs. Due to this reason, people often end up taking a gold loan in Devanahalli.
Since a gold loan is a secured loan, it offers many benefits that the other sources of funds do not offer. Some of the benefits offered by a gold loan include:
The requirement for eligibility for a gold loan isn’t much. To avail a gold loan, the borrower has to fulfill the below-mentioned criteria:
The loan amount is then calculated by the lender by multiplying the quality, purity, and weight of the gold. The lender then multiplies it with the average price of gold for the past thirty days. The resultant amount id the loan amount that the borrower can borrow.
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!
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