One will be surprised to know that Kolkata, priorly named as ‘Calcutta’, was the functioning capital of India till 1911. The city was a conglomerate of three villages namely Sutanati, Kalikata and Gobindapur. The city has been a centre for the Indian Independence struggle from where various movements and freedom fighters originated. The place is named as the ‘cultural capital of India’ in view of its cultural, literary and architectural importance. One of the vastly celebrated festivals is the Durga Pooja, covering a span of 10 days where people pray to Lord Durga. The people of Kolkata are renowned for their ‘closely-knit’ neighborhoods and casual conversations, which is a chief part of their community’s essence. The place is known for being ahead of its time, it is where the first stock exchange was set up, metro line was constructed and an operational airport was built. The major tourist sites of Kolkata are the Indian Museum, Dakshineswar Temple, Eden Gardens, Victoria Memorial, Alipore Zoo, Birla Mandir, St. Paul’s Cathedral and National Library. The people mostly rely on gold loans in Kolkata for personal requirements.
Since a gold loan is a secured loan, it offers many benefits that the other sources of funds do not offer. Some of the benefits offered by a gold loan include:
The requirement for eligibility for a gold loan isn’t much. To avail a gold loan, the borrower has to fulfill the below-mentioned criteria:
The loan amount is then calculated by the lender by multiplying the quality, purity, and weight of the gold. The lender then multiplies it with the average price of gold for the past thirty days. The resultant amount id the loan amount that the borrower can borrow.
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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