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Gold Loan in dumas

Dumas is another neighbourhood in Surat City. Dumas is located at the entrance of the Tapi River and is primarily known for the amazing Dumas Beach and the Golden Beach that is lined by the Arabian Sea. These beaches have turned out to be a perfect location for day trips and a prime attraction for tourists because of the Chinese eateries, local snack stalls, swimming facilities, and camel rides. In order to enjoy all the activities, people apply for a gold loan in Dumas. At a distance of 5 km, the Surat International Airport has been situated. The locality is connected with all the major parts of the city through Surat-Dumas Road.

Documents required for an online gold loan

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

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

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!

Eligibility criteria for an online gold loan

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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Frequently asked questions

How will gold rate affect my gold loan amount

The loan amount you are eligible to receive is contingent on the value of the collateral you pledge. Usually, the loan amount you receive is about 75% of the market value of the gold you pledge. The value of the collateral however is ascertained by taking an average of the daily gold gram rate from the past 30 days. If the gold rate has been on a constant high, then the loan amount goes up and the borrower receives a higher amount of loan against their gold. But at the same time if gold hasn't been performing well, then the average gold gram rate will also not come up too much and hence, the loan amount the borrower is eligible to receive will also be correspondingly low.

How is gold appraisal done at home for online gold loan?

One of the several benefits of availing a gold loan is that the lender’s representative comes to your doorstep for gold valuation. This lender appointed loan manager will weigh each of your gold ornaments and enter the price/weight details on their system. It is noteworthy that this gold needs to be in the form of jewelry or ornaments and not gold coins or bars. The loan manager will also verify the quality of your gold through industry-standard tests done in front of you. These details are then passed on for approval to our team who will respond shortly after the submission.&nbsp

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