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Gold Loan in gandhinagar

Gandhinagar is reputed and rich commercial area of the Vellore district. This area comes under the Katpadi assembly & Araakkonam parliamentary constituency. This place is situated on the north of river Palar. Gandhinagar is divided into two sub-parts East and West. This place is surrounded by Old Katpadi, Balaji Nagar, & Vaibhav Nagar. Katpadi Junction & Vellore Town are two nearby railway stations. Some famous places nearby are Takshila School, Sneha Institute Of Para Medicals, Don Bosco Matriculation School, Vidyaniketan Matriculation Higher secondary school, Kumaran Hospital, Sri Devi Karumaariyamman Temple, CSI Christ Church. Gold loan in Gandhinagar is an easy way to get cash if you are in need of it.

Documents required for an online gold loan

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:

  1. Identity proof – any document such as voter ID, PAN Card, Aadhaar Card, Passport, or driving license can act as the identity proof of the borrower.
  2. Address proof – the same documents as mentioned above, except for voter ID and PAN card can act as the address proof of the borrower.

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.

Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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Frequently asked questions

Is a guarantor or introducer required for availing a gold loan? Do I need to open an account with a bank?

No. Most companies do not require a guarantor or introducer to avail of a gold loan in Mangalore. However, you will require a bank account in order to get the loan amount deposited and make gold loan repayments. A guarantor is required only in some cases when a borrower obtains an unsecured loan. For most gold loans in Mangalore, including Rupeek, there is no requirement of a guarantor. A bank account is mandatory, though, as it is to this account that the lender disburses the loan amount and the borrower has to make the gold loan repayment.

How will gold rate affect my gold loan amount

It is noteworthy that the gold valuation as per the lender is not always at par with the amount as per the current gold gram rate prevailing in the market. This difference arises because the lender calculates the market value of gold by adding up the individual gold rates of the past thirty days and divides it by 30. This rate is then applied to the weight of the gold. Owing to this, your gold valuation may be over or below the gold rate as of that day. If you are looking to avail a high-value loan, ensure to avail it in a month where the gold rate has been performing well.
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