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Gold Loan in jigani

Jigani comes under Anekal that is located in South Bangalore and it is only at a distance of 28 km from the Bangalore city railway station. Due to the presence of various granite factories in the area, the locality became famous as the Granite Hub of Bangalore. The Jigani Industrial Area is pretty famous because of being the home of several leading organizations like OTIS, Toyota, HCL, APC, and others. Odia, Kannada, and Tamil are the most spoken languages in this area. People looking for affordable homes often visit this locality that is situated near to Electronics City. Hennagara Lake and Jigani Lake are the two main lakes of this locality. Three highways are passing through this city. People often take up a gold loan in Jigani to participate in this booming locality.

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.

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

Do I need to update the bank in the event of a change in address due to relocation or any other reason?

Yes, it is mandatory for you to inform the lender in the event of you shifting your house or changing your location after the loan has been placed. This is important, since your identity proof is one of the only two mandatory documents you have to submit before you are sanctioned a gold loan in Bangalore. Besides, since your loan is online, it is an official from the company who will come to your address for further requirements, such as the closing of the loan. The representative from the company may even come to your new address soon after you notify them for security reasons. 

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

A gold loan offers better benefits than a personal loan or credit card loan. This is because a gold loan is secured with the gold, and a personal loan and a credit card loan are unsecured. Therefore, gold loans offer may benefits that are not offered by an unsecured loan. For example, gold loans have much lower interest rates and are not as heavy on document work. In fact, gold loans require minimal document work with only KYC needed. Moreover, gold loans do not require a credit score or history and have the highest loan-to-value ratio (LTV). Loans amounts are also disbursed much faster, usually within a few hours, making it a great option for those in need of an emergency loan.
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