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Gold Loan in khandsa

Khandsa, although it is under the Gurugram Mandal it is far from the city and is approximately 257 kms from Chandigarh. However, being on the NH8 highway it is quite close to the capital, New Delhi. It is also a significant place in a way that it has the Eklavya Temple which is dedicated to the character of Eklavya in Mahabharat. It is said that this is where he had cut his thumb and got it for Guru Dronacharya as a part of the punishment he received. Gold loan in Khandsa is quite popular among the residents.

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

Benefits of an online gold loan

The benefits a borrower can reap from an online gold loan are boundless! All you need to do to avail an online gold loan is download the lender's app and place a loan request. One of the best features of a gold loan is that this process can be done online entirely without manual intervention provided that is what the borrower prefers. The borrower also has the flexibility to place a call on the lender's customer care number to avail the same if he/she were to feel like they might need assistance with the process. All this happens right from the comforts of your home. Even when it comes to gold valuation, you do not need to venture out with expensive gold in your pocket! The lender assigns a representative that will visit you at a location and time as stipulated by you. While an online gold loan does require a few basic documents, you can also avail a loan with just your Aadhar card! As a borrower, you are eligible to receive up to 75% of the gold you are pledging. If both parties are in agreement with the loan amount, the loan is disbursed to your account within a matter of 10 minutes. What's more, the entire process takes only an hour end-end!

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Frequently asked questions

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

For starters, gold loans come equipped with a variety of benefits as opposed to any other form of credit. The reason lenders can afford to offer so many added benefits to borrowers of gold loans is because of the collateral pledged against the loan. Some of the stark difference between gold loans and other loans are: 

1) Gold loans have much lower interest rates 

2) Gold loans don't require as much documentation as to any other form of credit. Some lenders even approve gold loans with just the Aadhar Card for verification. 

3) Though other forms of credit require you to maintain a stellar credit history, gold loans can still be availed even with a poor credit score.

Can I avail EMI facility on gold loan?

Yes, you can avail EMI facility on gold loan in Gurgaon. Equated Monthly Installment is the amount that you pay every month to your lender for the loan you have received against your gold. EMI includes both the principal amount and the compound interest. Most of the time while applying for a gold loan online you can use the online gold loan calculator and check the EMI applicable for your loan amount. EMIs are one of the best methods of repayment of the loan. The consistency, as well as the fixed amount in an EMI, makes sure that the borrower doesn’t have to dip into their savings during the course of their gold loan in Gurgaon.
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