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

Gold Loan in indore khajrana

Khajrana indore is world famous for its ganesh temple, an historic pilgrimage center devoted to lord ganesha in indore. In 1735 queen maharani ahilyabai holkar of the holkar dynasty founded this temple. The temple has grown from a small hut into a vast sanctuary, with even the eyes of the deity made of diamonds donated by a wealthy indore businessman. It is home to quaint lakes, soothing waterfalls, magnificent parks, splendid palaces and ancient temples the city revolves around maintaining the temple of khajrana and catering to the needs of the devotees who come from all over the world. And the tourist industry is doing well in this small town. gold loan in khajrana additionally lets people spend more in their current businesses and extend them to support the local economy.

Gold Loans at the privacy of your home

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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!

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!

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Frequently asked questions

How are gold loans different from other loans like personal or credit card loan?

As far as urgent funds or emergency loans are concerned, as long as you have the collateral, a gold loan is your best bet. This is because gold loans offer the maximum benefits to the borrowers. The security of the asset that has been pledged with the lender enables the lender to offer many benefits to the borrowers. Since a personal loan or a credit card loan is an unsecured loan, as many benefits are not available to those borrowers. A secured loan has a lower interest rate. They also require much more paperwork than a collateral-bases loan. Further, the borrower will also be expected to have a high credit score – over 700 to get a favorable loan. 

Can my gold loan be written off?

'Written off' refers to the term which implies that the borrower has not repaid the loan amount borrowed over 180 days ago. In such a case, the lender will have to do away with the outstanding amount that needs to be repaid. It is noteworthy that a 'written off' in your record will reflect poorly on your credit score which will not play out in your favor when you are looking to avail subsequent loans. However, in the case of a gold loan in Indore, the lender has the right to auction off your jewelry if you fail to make your repayments three or more consecutive times during the tenure of your loan. Though the value of used gold is lower in the market, the lender settles the losses incurred for granting a loan to that customer with the auctioned money.
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