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Gold Loan in faridabad sector 29

Faridabad Sector 29 is an extremely promising residential area with all sorts of modern facilities available, like school, colleges, offices, commercial shopping centres, cinema halls, bus stands, railway stations, and hospitals. This area is under the assembly constituency of Tigaon and Parliamentary Constituency of Faridabad. The primary medium of transportation is the Faridabad Bypass Road, as it goes through the heart of the area. Sector 29 is bordered by New Bhoor Colony, Sector 30, Old Chungi, Sector 28, and Shastri Colony. The Nearest Railway Station is the Faridabad New Town railway station. The hospitals of this locality are Shri Balaji Hospital and Heart Center and Carewell Hospital. Important government buildings are located here, like the National Academy Of Customs, Indirect Taxes and Narcotics. Also one can find the Hermann Gmeiner School, Community Centre, and Saraswati Park spots worth visiting. People often tend to do more shopping and travels, for that gold loans in Faridabad Sector 29 are profitable options.

Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

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Frequently asked questions

What is a gold loan?

Gold loans are those loans that are availed by securing gold against your loan amount until the repayment of the loan. The value of this gold has to be at least 30% more than the loan amount. This functions like any other secured or collateral-based loan, where the gold operates as the collateral. Several factors make gold loans such a widely popular source of credit: 

1) Flexibility- Borrowers have the latitude to apply for a loan and choose the loan terms, loan amount, loan interest rates, and repayment schemes as per their requirement.

2) Speedy Disbursal- Gold loans take only about an hour to get approved and disbursed since the point of the loan application.

3) Minimal Documentation- Gold loans require minimal documentation. At times, the lender even approves loans with just collateral and the borrower's Aadhar card.

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

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