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Kanchipuram
Enathur
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In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in Enathur

Enathur stands between the two large water bodies of Ponneri Lake and Vaiyavoor Lake. Enathur is also home to many educational institutions. One such prominent one is the Sri Chandrasekharendra Saraswathi Viswa Mahavidyalaya, which is spread over an area of 50 acres. Bhaktavatsalam Polytechnic College, Meenakshi Medical College Hospital And Research Institute, Sri Jayendra Golden Jubilee School, Kanchi Vani Vidyalaya, Sri Sankara Arts & Science College, University College of Engineering, Billabong High International School, Narasimma Pallavan Polytechnic College, and Pallavan College of Engineering are also among the other popular educational institutions. Kanchipuram and Kanchipuram East are the two railway stations nearest to the locality. To meet their educational needs such as tuition fees, hostel fees, etc, the people often rely on gold loans in Enathur.
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Gold Loans at the privacy of your home

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Eligibility criteria for an online gold loan

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:

  1. Low rate of interest
  2. Minimal documentation
  3. High loan amount
  4. Flexibility in repayment options
  5. Instant loan approval, etc.

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:

  1. The borrower shouldn’t be a minor
  2. The mortgage loan should be of 18 karat or above
  3. The gold should be in the form of ornaments or jewelry.

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.

What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

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Frequently asked questions

How do I close my loan on gold and release my jewels?

Applying and availing for a loan is as easy as can be. Most of this process occurs online, except for the gold valuation which occurs at your doorstep. However, when it comes to repaying your loan most lenders provide an option called 'Close loan' online. In this particular repayment scheme, the loan closure summary will be displayed on the app in your profile along with the complete details of accrued interest, rebate amount (if applicable), and the final payable amount for your online gold loan. Once the loan account is closed the loan manager will hand over the collateral gold to you. 

Can I take a gold loan for my education?

One of the most flexible features of a gold loan is that you can spend it as per your discretion provided it is not with the intent of laundering money, terrorism, gambling, or any other such illegal activities. This implies that you can very well avail a loan for educational purposes. Easy repayment terms where you only have to pay interest each month and a flexible loan tenure ranging anywhere between 6 months to 12 months depending on your repayment capacity makes gold loans in <cityname> one of the most favorable loans to opt for while pursuing higher education.
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